A proprietorship is a type of unregistered business entity that is owned, managed and controlled by one person. Sole proprietorship’s are one of the most common forms of business in India, used by most micro and small businesses operating in the unorganised sectors. Proprietorship is the easiest form of business done in India since it isn’t governed by any specific laws. Under sole proprietorship’s, the compliance’s are minimal and easy to fulfill.
Documents for a Sole Proprietorship:
- Aadhar Card
- PAN Card
- Bank Account
- Registered office proof
Although sole proprietor doesn’t require any specific registrations, he is advised to obtain a few registrations to make his business function smoothly.
- Registering as SME
- Shop and Establishment Act License
- GST Registration