Sole Proprietorship Firm Sole Proprietorship Firm Registration is a single person firm registration which enables doing business in India, with less compliance and less costing. A popular registration among small traders and merchants, the proprietor once registered has complete control to carry out their business. The owner is in direct control of all elements and is legally accountable for the finances Registration of a business name for a sole proprietor is generally uncomplicated. The requirement for minimal legal entity proof in order to open a Current Bank Account makes it a much simpler way to start a business.
Documents Required for Proprietary Firms
- Photocopy of PAN Card/Aadhaar Card/Voter ID (the photograph must be clear).
- Bank statement no more than three months old with stamp and signature (bank letter confirming the name of the client, address and account number if not on the letterhead)
- Photocopy of utility bills (landline, electricity, gas bill – no more than three months old)
- Photocopy of passport with full address of the client.