1. How Do I Register A
Proprietorship?
Shantanu
4th Yr.
NLU, Odisha
2. Sole Proprietorship
• Simplest form of business organization.
• It is an extension of the personal finances of
the owner.
• It does not have a separate legal existence.
• Unlimited liability of the owner.
3. Registration
• Registration of sole proprietorship is not
necessary.
• Depending upon the rules of the local
authorities, you may be required to obtain
licenses.
4. Imp Pts on Registration (contd…)
• Go through your State laws:
Registration requirements could be different
in different States. Such information can be
obtained from the office of Secretary of the
State.
• Forms: Fill in the required forms carefully. Any
fault in the forms can result in delaying the
process of registration.
5. Imp Pts on Registration (contd…)
• Fees: The form must be accompanied with the
required amount of fees. It can be paid in the
form of DD, money order or cash.
• Time Taken: It is around 30 to 60 days. May
extend if there is any fault in the forms or in
the fee paid.
6. Opening a Bank Account
• It is advisable to have a different bank account
for your business concern than your own.
• Only a registered business can open a bank
account.
• A business can only operate a current account.
• To open an account, at least two documents
which are in the name of the business concern
must be submitted.
