Register Your Sole Proprietorship Business with Ebridge
Get your sole proprietorship business registered with the helping hands from Ebridge legal experts. We can guarantee the quickest possible time for registration of your business as a Sole Proprietor.
What is a Sole Proprietorship Business?
It typically occurs when a person has leadership characteristics, finds it exhausting to work for others, and feels compelled to launch their own company. A possibility to establish oneself as a leader is offered by a sole proprietorship business.
The most common business structure used by entrepreneurs all over Pakistan is the proprietorship. Grocery stores, pharmacies, restaurants, general stores, photographers, doctors, and attorneys are some examples of sole proprietorships that are often seen in the area.
Sole Proprietorship Registration
Registering a sole proprietorship is a simple online process that only requires a few documents and the assistance of an expert. Here, our legal professionals step in. Our team is expert in legal matters and takes full responsibility of your sole proprietorship business registration online. From opening a bank account in the name of the business entity to all the legal peculiarities, Ebridge makes it simpler for you to start your sole proprietorship business in Pakistan.
Benefits of a Sole Proprietorship Business in Pakistan
- No Separate Identity
- Unlimited Liabilities
- Lack of Legal Formalities
- Continuity of Business
- No profit or loss sharing
Procedure for Proprietorship Business Registration
Take the expert opinion and guidance from legal experts at Ebridge to register your sole proprietorship business. The procedure is fairly easy. We make sure your business documents are complete to run the registration process smoothly. The registration process involves the following:
- Registration of a unique business name.
- Making a business stamp.
- National Tax Number registration (NTN).
- Creation of a dedicated bank account.
- The NTN containing all of your data is the only document you will receive that serves as proof of the existence of your firm.
How To Register a Business with FBR as Sole Proprietor
Step 1: Create your FBR Login in IRIS as the first step.
Step 2: Complete Form 181 to register for the FBR System.
Step 3: Select Business Principal Activity and add your business and address.
Step 4: Submit Form 181 for NTN issue by attaching the necessary papers.
Step 5: After creating your NTN, go ahead and open a business bank account at any commercial bank so that you can start doing business.
Documents Required for Sole Proprietorship Registration in Pakistan
The following documents are needed for Sole Proprietorship Business Registration in Pakistan.
- Coloured CNIC scanned copy of both sides.
- Mobile number and email address of Sole Proprietor (not registered before with FBR).
- Business Name, Address, and Principal Activity of Business.
- Paid Electricity/Sui gas bill not older than 3 months.
- Ownership documents or rent agreement of business premises along with CNIC copy of premises owner (address on the utility bill and premises documents must be the same).
Sole Proprietorship Registration Fee in Pakistan
Ebridge Consultants can provide you with business registration if you’re interested in setting up your business as a sole proprietor. Please get in touch with us if you need more information.
SECP Sole Proprietorship
Single Member Private Limited Company or SMC-Pvt Ltd company is permitted by the SECP Act of 2017. In terms of the number of owners or directors, SMC Pvt Ltd is comparable to a sole proprietorship. SMC-Pvt Ltd registration, however, is more challenging and time consuming than sole proprietorship registration.
Consult the best legal partners here.