To start a business in proprietorship you can choose a name.For Example ABC Enterprises
Take two certificate which identify you as a proprietor.Depending on your business requirement you need to take some mandatory registrations such as Gumasta,TAN No etc.
Some banks even may accept one Certificate of a CA Certificate to open your bank a/c.However it is taken as secondary documents.
You need to take some more mandatory Certificates and registrations depending on your business requirement you need to take some mandatory certificates.
PAN Card copy of proprietor
Easy to Start
Let guided by experts to know what is the best way to register proprietorship
No Unneccessary Clutter, We will only advise you what is mandatory in law and No unneccesary Compliances just for sake of it , it will save you time and money through out your Business journey.
We will get your done on time without fails, Automated work status reminders and follow up wil save you time you spend following with other firms.
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Who can be a Proprietor?
The Proprietor must be an Indian citizen and a Resident of India.
Will Proprietorship Firm have Certificate of Incorporation?
Proprietorship firms do not have a Certificate of Incorporation.
How much money do I need to invest upfront in starting the business?
There is no limit on the minimum capital for starting a proprietorship. Therefore, a proprietorship can be started with any amount of minimum capital.
How to open a Bank account for a Proprietorship firm?
To open a bank account for a Proprietorship, Reserve Bank of India mandates that the proprietor must provide two forms of registration for the Proprietorship firm along with the PAN Card, identity proof and address proof of the Proprietor. The two forms of registration can be any two of the following:
service tax registration, MSME registration, GST registration, Shop and Establishment Act registration, Professional license, Chartered Accountant certificate or others as provided in the RBI Know Your Customer norms.
When to choose Proprietorship?
When You are starting a business and You don’t want to many compliances. Proprietorship is much better to try out new business as it is easy to start and shut down as well without much expenses and inconvenience.
Can I add other person in Proprietor?
No. Proprietorship is for single owner business firm.
In Proprietorship, Can I pay salary to myself?
No. Salary is not allowed in proprietorship.
Will my business be impacted , If I choose to form a Proprietorship?
Practically and legally No, you can do a big business in proprietorship.There is no limitation on it.However, in certain cases big companies, Government Agencies do not prefer to work with proprietorship due to practical and reliability issues.
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