Proprietorship Registration Services

Proprietorship Firm Registration in Hyderabad

A sole proprietorship is the simplest way to start a business in India. It is owned and run by one person, needs very little paperwork and has the lowest compliance of any business structure. It is a popular choice for shops, traders, freelancers and small service businesses in Hyderabad.

There is no single law under which a proprietorship is "registered". Instead, it gets its legal identity through business registrations such as GST, MSME (Udyam) and a trade licence. Naresh Pokala & Company helps you get the right registrations so you can open a current account and start trading quickly.

Registrations We Handle for Proprietors

• GST registration in the business name
• MSME (Udyam) registration
• GHMC or municipal trade licence
• FSSAI food licence, for food businesses
• Import Export Code (IEC), for import and export businesses
• Professional tax registration, where applicable
• Current account opening support

Documents Required

• PAN and Aadhaar of the proprietor
• Passport-size photograph
• Business address proof: rent agreement or ownership proof with a recent utility bill
• Owner's NOC, if the premises are rented
• Bank account details

Advantages of a Proprietorship

• Quick and low-cost to start
• Full control with the owner
• Minimal annual compliance
• Business income is taxed in the owner's personal income tax return

Points to Consider

• The owner has unlimited personal liability for business debts.
• It cannot bring in partners or investors without changing the structure.
• Raising large bank loans can be harder than for a company or LLP.

As your business grows, we can help you convert to an LLP or a Private Limited Company.

Frequently Asked Questions

What documents do banks need to open a current account for a proprietorship?
Banks usually ask for two proofs of the business in the proprietor's name, such as a GST certificate, Udyam certificate or trade licence.

Do I need GST registration?
GST registration is required once your turnover crosses the GST limit, or earlier in some cases such as inter-state sales of goods. Many proprietors also register voluntarily.

Start Your Business Today

Talk to Naresh Pokala & Company, Chartered Accountants, LB Nagar, Hyderabad. WhatsApp us on 73068 10570.