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There is no requirement under law for registration of a sole proprietorship. The only requirement would be to have a PAN card, GST registration and industry specific license, if required. The costs involved in fulfilling th...
Wazzeer Professional Network
ProfessionalSole proprietorship registration
Request of information
-
Wazzeer Professional Network
ProfessionalThere is no requirement under law for registration of a sole proprietorship. The only requirement would be to have a PAN card, GST registration and industry specific license, if required. The costs involved in fulfilling these requirements are not very high.
As your company grows, in case you convert the sole proprietorship into a Company (Pvt./Public/One Person Company), the same would require incorporation and necessary compliances under the Companies Act, 2013.
Note, In case you plan to raise funds, having an incorporated company is a better option since the company is bound for compliances and Corporate Governance under the Companies Act, 2013, which would attract investors and funds.
'Get a Wazzeer' to kick start the registration process early on to enter the market.
about 5 years ago
View answer
Sole proprietorship registration
Request of information
-
Wazzeer Professional Network
ProfessionalThere is no requirement under law for registration of a sole proprietorship. The only requirement would be to have a PAN card, GST registration and industry specific license, if required. The costs involved in fulfilling these requirements are not very high.
As your company grows, in case you convert the sole proprietorship into a Company (Pvt./Public/One Person Company), the same would require incorporation and necessary compliances under the Companies Act, 2013.
Note, In case you plan to raise funds, having an incorporated company is a better option since the company is bound for compliances and Corporate Governance under the Companies Act, 2013, which would attract investors and funds.
'Get a Wazzeer' to kick start the registration process early on to enter the market.
about 5 years ago
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