First Hand Holding
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First Hand Holdings offers proprietorship registration from Rs.2599/-
Overview
What is a Sole Proprietorship?

When a business is owned and governed by one person it is called a sole proprietorship entity. This form of entity can be started easily , hence this is very famous form of doing business in unorganized sector and for beginners of business. No direct registration is required to start proprietorship but it can be started with other alternative registration depending upon the nature of business and nature of industry. Like GST Registration, MSME Registration, Labour Dept Registration etc. Few Drawaback are
(a) the liability of the proprietor is unlimited i.e in case of loss proprietor has to pay from own pocket also.
(b) sole proprietorship business ceases to exist after the death of the proprietor

Sole Proprietorship: How Can We help?
  • - Service Pick
    We help you pick the right government registration
  • - Vendor Connect
    We connect you with a verified vendor to file the application
  • - Receipt of Registration
    We offer continuous support until you receive the registration
Benefits of Proprietorship
Why choose First Hand Holding?


Easy to start and easy to close

Registering a sole proprietorship is easiest way to start any business. It involve less efforts, less money and less time in comparison to any other form of doing business. It automatically begin with taking any legal registration and opening a current account with any bank. Proprietorship entity can easily be dissolve just by surrendering the legal registration

Minimum legal compliance

Proprietorship entity has very less legal compliances in comparison to any other form of doing business, it requires Annual Income tax return filing and GST Compliances

Less outflow of income tax

While calculating the income tax benefit of slab rates can be availed which leads to lessor income tax payable , also provision of advance tax are only applicable after certain limit of turnover

Value for Money

When compared to an OPC or One Person Company, a Sole Proprietorship is economical due to its minimum compliance requisites. Even in the long-term perspective, it is still inexpensive. It works out much cheaper because one would not need to hire an auditor.


Documents Required
To begin a sole proprietorship, you would need basic KYC Documents i.e an identity proof like Pan Card and address proof like aadhar card, passport etc. You need a business address proof whether rented or owned. Copy of contract/contract bond (if there arise a need of Shop and Establishment Act Registration).

Identity & Address Proof

  1. Under Second heading add “ Aadhar Card” along with all other documents
  2. Under third heading change it to “ Scanned Copy of Rent Agreement/Lease Deed/registry papers and Utility Bill like electricity bill, Property tax receipt
  3. Under forth heading remove line “ specimen signature (blank documents with signature, [directors only]
IDENTITY AND ADDRESS PROOF
Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
Scanned copy of Aadhar Card/Voter Id/Passport/Driver’s License.
Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill.
Scanned passport-sized photograph specimen signature (blank document with signature [directors only]).
Sole Proprietorship Registration Procedure
  • ON DAY 1: Professional guidance on the many processes.
  • ON DAY 5: Our team will put you in touch with an established vendor.
  • ON DAY 16: Full assistance until you get the registration you've have chosen.
Pricing
Pay as your grow

Basic

all inclusive fees

₹2599

  • TAN Registration
  • Udyog Aadhar Registration
  • Accounting Technical Assistance
  • Current Account Opening Assistance

Standard

all inclusive fees

₹5399

  • TAN Registration
  • Udyog Aadhar Registration
  • Current Account Opening Assistance
  • GST Registration

Premium

all inclusive fees

₹14299

  • TAN Registration
  • Udyog Aadhar Registration
  • Current Account Opening Assistance
  • GST Registration
  • Trademark Filing
FAQ on Sole Proprietorship
What are the requirements to be a Proprietor?
The Proprietor must be an Indian citizen and a Resident of India. Non-Resident Indians and Persons of Indian Origin can only invest in a Proprietorship with prior approval of the Government of India
What is the capital required to start a Proprietorship?
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 will First Hand Holding help me start a Proprietorship?
Our associate will comprehend your business necessities and help you begin a Proprietorship by acquiring the important enrollments.
How to register the name of a Proprietorship?
There is no registry or regulation for the registering the name of a Proprietorship. Therefore, proprietorship firms can adopt any name that do not infringe on registered trademarks. Since there are no registry or regulation for registering the name of a Proprietorship, the only way to ensure exclusive use of the business name is to obtain a trademark registration of the business name.
Can I later convert my Proprietorship into a Company or LLP?
Yes, there are procedures for converting your Proprietorship business into a Company or a LLP at a later date. However, the procedures to convert a proprietorship business into a Company or LLP are cumbersome, expensive and time-consuming. Therefore, it is wise for many entrepreneurs to consider and start a LLP or Company instead of a Proprietorship.
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