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01 August 2023
A proprietorship firm, also known as a sole proprietorship, is a kind of business structure where an individual owns and operates the business. The proprietor is considered the sole owner who is responsible for all aspects of the business, including investments, profits, losses, and liabilities. This is the simplest form of business entity and does not require formal registration, except for certain licences and permits. They may be necessary, which depends on the nature of the business. In a proprietorship firm, the owner and the business are considered the same legal entity, and there is no legal distinction between personal and business assets or liabilities.
Registering a Proprietorship Firm in Delhi involves several steps, including online application submission, document verification, and processing. Here's an outline of the process, required documents, and approximate processing time:
Step 1. Visit the official website of the Ministry of Corporate Affairs (MCA) or the portal designated by the Delhi government for business registrations.
Step 2. Create an account and login to the portal.
Step 3. Fill out the online application form for registering a Proprietorship Firm.
Step 4. Provide necessary details such as the firm's name, address, owner details, and business activities.
Step 5. Pay the required registration fee online.
The aforementioned process will be incomplete unless you submit supporting documents for verification. Here is the checklist of those papers.
After submitting the online application and required documents, the Registrar of Companies (RoC) or the concerned authority will review and verify the application.
The processing time for Proprietorship Firm registration can be different, which certainly depends on the workload of the authorities and the accuracy of the application and documents submitted.
Generally, the processing time is observed to be a few days to a couple of weeks long.
It's advisable to regularly check the status of the application on the online portal or contact the concerned authority for updates.
Note: The specific requirements, process, and processing time may vary based on the current regulations and guidelines issued by the Delhi government or the MCA. It is recommended to visit the official government websites or consult with a professional consultant or legal expert for the most up-to-date and accurate information regarding Proprietorship Firm registration in Delhi.
To register a proprietorship firm in Delhi, you should have an idea about these requirements. However, the registration itself is not mandatory, it is suggested to obtain the necessary licences and permits to operate legally and avail benefits. Here are the requirements for registering a proprietorship firm in Delhi:
Sole proprietorship registration in Delhi can be done online, requiring a unique business name, PAN card, separate bank account, relevant licenses/permits, and proof of identity/address. It is advisable to consult professionals for specific requirements.