A sole proprietorship is also popularly known as a sole trader. It means that a business is managed by a single owner who is the proprietor of that business. For a sole proprietorship registration in Kerala, you do not need to have two people to sole proprietorship registration in Kerala only a single person can open a sole proprietorship. It is not a separate legal entity; it means that business and owner are the same person. It is easily incorporated and very inexpensive.

Features of Sole Proprietorship Registration in Kerala:

Some Special and unique features of sole proprietorship Registration in Kerala business which others do not have are:

(1) You have complete control over your business.

(2) The liability of the owner is unlimited.

(3) If the owner dies, the firm stands closed.

(4) You can take any decision within the legal framework.

(5) The owner and the business are common.

Benefits of having registration in Kerala:

(1) It can be easily incorporated with very little headache.

(2) The tax benefit you need to pay initially at 10% also has a minimum exemption limit.

(3) Easily incorporated.

(4) Easy and less compliance.

Documents for registration in Kerala:

There is no formal process for registering a proprietorship firm in Kerala. But, to register a proprietorship company in Kerala you need to register you business under any two category minimum:

Shops and Establishments.

GST.

MSME.

TAN.

However, your proprietorship company in Kerala does not need to register under all registrations. The kind of registration will depend on your business and its turnover. Moreover, you also need to open a current account at a bank.

For a seamless registration process, please keep the following documents ready: These documents will serve for all the above registrations and also for opening a current account.

(1) A copy of your PAN card.

(2) Address proof in your name, such as a passport, voter ID, or utility bills.

(3) Your passport sized photographs.

(4) Proof of address for your business, such as telephone or electricity bills.

(5) Shops and Establishments registration certificate (for opening a current bank account).

(6) A bank account statement (for at least 6 months) from the current banker.

(7) Bank account details (for GST registration).

Fee for proprietorship company registration in Kerala:

The government fee and the professional fee depend on your registration needs.

Timeline for Registration of Sole Proprietorship Kerala:

It depends on the type of registration. Therefore, there is no fixed timeline. The process of registration may take anywhere between 2 to 20 business days. This timeline is further subject to government procedure and approval.

External Government Website Link: INCOME TAX