Cross Border Transactions

Get Cross Border Transactions Registration @ affordable price

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Procedure For Cross Border Transactions Registration

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.

  • Ease of setup- The entrepreneur can start operations and receive payments from clients as no registrations are required to start a proprietorship.
  • Ease of compliance- The other advantage of a Proprietorship is that it requires no additional compliance in most cases. The PAN of the proprietor and proprietorship are one and the same. Hence in most cases, only income tax return in Form ITR-3 must be filed every year.
  • Ease of dissolution- The proprietor does not have to particularly wind up the company incase he wants to cease operations. This saves a lot of time and effort.
  • Liability protection: A sole proprietorship does not provide the proprietor with limited liability protection. So the proprietor would be held personally liable in case of any loss or liability.
  • Transferability: Any license or registration obtained in the name of the proprietorship cannot be transferred to any other person or entity.
  • Lifespan: The existence of the sole proprietorship is tied to the proprietor hence it would cease to exist with the proprietor.
  • Fundraising: A proprietorship cannot raise equity funds from angel investors, venture capital firms or PE funds. Banks also tend to restrictions on the amount of credit they can lend.

Get Registered in 4 Steps

Step 1

Select Service

Select the desired service you want to avail

Step 2

Pay Fee

Pay the mentioned amount for the respective service

Step 3

Send Documents

Send the relevent documents for the service.

Step 4

Get it done

Now get registered and enjoy our service

Documents Required

Pan Card

PAN Card of shareholders and Directors. Foreign nationals must provide a valid passport.

Identity Proof

Aadhar card | Voter ID | Passport | Driving License of Shareholders and Directors.

Address Proof

Latest Telephone Bill | Electricity Bill | Bank Statement | Gas/Water Bill of Shareholders and Directors

Photograph

Latest Passport size Color photograph of Shareholders and Directors.

Registered office Proof

Latest Electricity Bill | Telephone Bill/Water/Gas Bill of the registered office address

NOC from owner

No Objection Certificate to be obtained from the owner(s) of registered office

Rent Agreement

If Property is taken on Rent, then rent agreement required. Agreement must be notarized.

For NRI

All the documents must be apostilled(if applicable) and notarized.

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Frequently asked questions

Only one person is required to start a proprietorship as it can have only one promoter.

The proprietor must be an Indian citizen and resident. Non-resident Indians and persons of Indian origin can only invest in a proprietorship with prior approval from the Government of India.

No, the proprietorship firm and the proprietor are one and the same legally. The PAN of the proprietor will be the PAN of the firm. Therefore, there will be no separate legal identity for the business. The assets and liabilities of the business and the proprietor will also be one and the same.

A business operated under a proprietor cannot be transferred to another person unlike a limited liability partnership or a private limited company. Only the assets in the proprietorship can be transferred to another person through sale. Intangible assets like government approvals, registrations, etc., cannot be transferred to another person.

Proprietorship firms are business entities that are owned, managed and controlled by one person. So they cannot issue shares or have investors.

Yes, there are procedures for converting your proprietorship business into a company or an LLP at a later date. However, the procedures for the same are cumbersome, expensive and time-consuming. Therefore, it is wise for entrepreneurs to consider and start an LLP or a company in case they are expecting it to be operational at a bigger scale or they want to raise investment.