PROPRIETORSHIP REGISTRATION

Call For Free Consultation

9313454647

Email address

Support@legalstartup.in

WHAT IS SOLE PROPRIETORSHIP REGISTRATION?

When a single person runs a business then such kind of business is called a proprietary business, and the owner of the business is called the proprietor. Proprietorship is the most widely recognized type of the business which is utilized in India. You can start and operate the business with least regulatory compliance. Be that as it may, there is no undeniable way available to register your proprietorship by the Indian Government. Tax registration and other business registration are the correct way to show the existence of your proprietary business. Following registrations can be utilized to show the existence of your proprietory Business

ADVANTAGES OF SOLE PROPRIETORSHIP REGISTRATION

Easy To Start and Close Business:

One a week’s time you can start your business saving your time and money.

Single Ownership:

Single ownership means less complications, also decision making is limited to one person.

No Restriction For Business Name:

There is no need to register or reserve the name for proprietorship purpose, you can directly start the business on any name of your choice.

Easy Closure:

Closure procedure is very simple with minimum formalities.

Disadvantages of Proprietorship

Starting a Proprietorship is very easy. Be that as it may, However, after the startup phase, a Proprietorship doesn’t offer the Proprietor a large group of advantages such as separate legal substance, limited liability proprietorship, corporate status, transferability, perpetual existence – which are desirable features for any business.

Separate Legal Entity::

A Sole Proprietorship doesn’t have a separate legal substance. Henceforth, opening a bank current account in the name of a business can be an increasingly protracted procedure for a proprietorship when compared to a Company or LLP.

Limited Liability Protection:

A Sole Proprietorship does not provide the Proprietor with limited liability protection. Hence, in case any loss or liability is created by the Proprietorship business, the Proprietor would be held personally liable for payment.

Transferability:

A Proprietorship business is linked to the PAN of the Proprietor. Hence, any license or registration obtained in the name of the Proprietorship cannot be transferred to any other person.

Perpetual Existence:

A Sole Proprietorship business and the Proprietor are one and the same. Hence, the existence of the Sole Proprietorship is tied to the Proprietor. In case the Sole Proprietor is no more – the existence of the Sole Proprietorship business would also end.

Fundraising:

A Proprietorship business cannot raise equity funds from Angel Investors, Venture Capital firms and Private Equity funds. Banks also have restrictions on the amount of money they can lend to a Sole Proprietorship business.

Common Registrations for Proprietorship

As the identity of a Sole Proprietorship is established through various other registrations and licenses, the following are some of the common registrations that are obtained for a Proprietorship.

MSME Registration:

MSME or Udyog Aadhaar registration can be obtained in the name of the business to establish that the Sole Proprietorship is registered under the Ministry of Micro, Small and Medium Enterprises.

TAN Registration:

TAN Registration must be obtained for the Proprietor from the Income Tax department if the Proprietor is making salary payments wherein TDS deduction is required.

GST Registration:

GST registration must be obtained if the Proprietor is selling goods or services that cross the GST turnover threshold limit for registration. In most states, GST registration is required for service providers having annual revenue of more than Rs.20 lakhs and in case of traders – annual revenue of more than Rs.40 lakhs.

Import Export Code: 

Import Export Code or IE Code can be obtained from the DGFT in the name of the business – in case of a Proprietorship business undertaking export and/or import of goods into India.

Required Documents

Applicant office


Applicant’s / Company Name


Business Type


Business details


Brand/logo/slogan name


Office / Business address

Basic

999
  • Free Trademark search report
  • Apply for trademark registration in one class and track status
  • Update Status

Standard

1999
  • Apply for trademark registration in one class and track status
  • MSME Registration
  • GST Registration
Popular

Premium

6999
  • MSME Registration
  • GST Registration
  • Apply for trademark registration in one class and track status
  • Free trademark objection Reply file

Recognized by Govt. of India

Data Security & Trust

Trained & Professional Experts

1 Lakh+ Happy Customers Across India

Why Us?

On Time Service

ISO Certified

Super Fast Service

Affordable Than Other Professionals

FAQ

The person who has registered his trademark can use various benefits, such as registered owners can create, establish and protect their trademark, this person has full rights

Anyone who is claiming to become a proprietor and needs to use the trademark for his/her firm can apply for Trademark registration Online. Legalstartup will help you to get the Trademark registration done in few simple steps.

Trademarks should be easy to speak, spelling as well as easy for everyone to remember. Trademarks should not include geographic names, common or personal aliases. Avoid using big words or words which describe the quality of the product.id.registration

LegalStartup will help you register your trademark with an easy process. Here you do not have to meet an agent, just relax at home and complete the registration process.

No, a foreign trademark cannot be used in India, as a registered Trademark has specific locations where it can be used.

It is not illegal to run the business without registration of Trademark, but it is necessary to protect the Trademark.

It will take 6 months or more for completing the renewal of Trademark.

Visit Legalstartup website and apply for Trademark registration, you will find the easiest and efficient service from us

Yes, few changes are allowed subject to the terms and conditions under Trademark registration.

Yes, it is possible to remove the trademark form the register.

No, Trademark registration is not mandatory in India, but it is advisable that the trademark should be registered to avoid duplication.

The trademark in India is designated as ® (for registered trademark), ™ (Unregistered trademark)

The service mark is similar to the trademark, just the difference is that it defines the service by it.

Yes, foreign owners can apply for trademark registration in India.

Yes, this is possible under Indian Trademark Law where a multi-class application can be filed.

Testimonials

Open chat