Documents Required for Proprietorship Registration
Form No. 1 (Application for registration under Partnership Act)
Original copy of Partnership Deed, signed by all partners
Affidavit declaring intention to become partner
Rental or lease agreement of the property/campus on which the business is set
Minimum Requirements for Proprietorship registration
You need to be citizen and resident of India having PAN card and valid address proof(voter id, passport, driving license and AADHAR).
Advantages of Proprietorship
- Easy To Start
- Full ownership and control.
- Less capital involved.
- Profits are not to be distributed.
- Ease of formation.
- Complete control over all the aspects of business.
- Strong Interpersonal relationships with clients, customers and employees.
- Low Income Tax.