Registration of sole proprietorship

Natural person-entrepreneur is an individual who conducts, independently and at his/her own risk, systemic business activity.

Such form of business activity has considerable number of advantages, as it provides for minimum of arrangements and procedures, and it is quite simple in terms of registration. Natural person-entrepreneur is independent as for decision-making. There is no need to draw up any incorporation documents, to make up and pay contributions to the authorized capital stock, to maintain an office and so on. Moreover, this form of business activity is rather attractive from taxation point of view, as the applicable tax laws provide for a possibility for natural persons-entrepreneurs (NPE) to apply both general and simplified system of taxation. Furthermore, simplified system of taxation is quite flexible and offers several variants of its application, which will definitely meet the needs of almost all entrepreneurs.

A certain disadvantage of this form of business activity is that a natural person-entrepreneur is held independently liable for his/her obligations with all his/her property.

‘KD CONSULTING’ law & consulting firm will always assist in making a right decision on appropriate form of business activity, will provide in-depth advice on this issue, will inform you of advantages and disadvantages featured by all potential variants. In case you decided to start up as a natural person-entrepreneur, our specialists will render the services related to drawing up all relevant registration instruments, your state registration as a natural person-entrepreneur with the state register within the shortest possible time, and with tax authorities, pension fund and social security authorities; and will also assist in opening bank accounts, in your seal and stamp production, and will provide consultancy on optimal system of taxation etc.