Proprietorship Registration in Vijayawada
Proprietorship registration is the easiest type of business registration to start business for single owners with minimum compliance in Vijayawada. Sole Proprietorship is suitable for who are in business themselves like professional people, skilled workers, local business, consulting, manufacturing and other businesses.
Types of proprietorship:
- Registered Proprietorship
- This type involves registering the proprietorship under government regulations, which can offer certain legal benefits and protections.
- Unregistered Proprietorship
- This type operates without formal registration and is typically simpler to start but may lack some legal advantages of registration.
Additional registrations(if required):
- Goods and Service Tax (GST)
- One can register to GST for providing GST Invoice and benefit ITC.
- Udyam Registration (MSME)
- Helpful for Micro, Small & Medium Enterprise to obtain various benefits provided by the government for their establishment and growth.
- Importer Exporter Code (IEC)
- mandatory for firms which import to India or export from India.
- Digital Signaure (DSC)
- Digital Signature Certificate is an electronic, secure and authentic way to submit documents electronically for e-fillings, Govt.tenders.
Advantages of Proprietorship:
As the sole proprietor has single owner it has many benefits in operating and managing the business. we are mentioning few of them:
- Affordable and Simple
- Easy to form
- less Paper work
- Full control over business
- Simple taxation
- Direct Business management
Limitations of Proprietorship:
Sole proprietorship has few limitations. Few of them are:
- Dependent on Owner
- Unlimited liability
- Harder to raise funding
- Business continuity after death
- Higher tax slabs
- Dependent Business management
Process for registering Proprietorship in Vijayawada:
- Choose a Business Name
- Select a unique name for your proprietorship.
- Business Address Proof
- Obtain passport size photo, proof of the business address (e.g., utility bill, rental agreement) where the proprietorship will operate.
- Receive Certificate
- Once processed, you will receive a proprietorship registration certificate. This certificate serves as proof of the existence of your business entity.
- Open a Bank Account
- Open a current account in the name of the proprietorship with any bank of your choice.
Documents Checklist:
Following documents are required for registering sole Proprietorship in Vijayawada:
- Proprietor's Aadhar Card & PAN Card
- Address proof (e.g., utility bill, rental agreement)
Start registering your proprietorship in Vijayawada with Cqubes
Choose CQUBES to guide and register your proprietorship registration in Vijayawada, either for your new business venture or formalizing an existing venture. Our dedicated team will navigate you in obtaining essential registrations, certifications and compliance in every step of your business growth.
