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Sole proprietorships are registered under the Registration of Business Names Act. A sole proprietorship is formed by only one person. It is easy to set up and links the owner of a business to their company.
Companies structured as sole proprietorships can include individual freelancers, creatives, growing startups, and established businesses with physical storefronts or workspaces.
The ability to operate as a sole proprietor, without formal registration or high costs, is especially beneficial if you’re building your startup as a side gig, outside your regular day job.
The ease of establishment means you don’t have to be 100 percent committed or invested financially to begin operations.
Requirements for registration of a sole proprietorship/ partnership:
- Proposed business names for search and approval;
- Nature of business; for professional services, a practicing certificate by the relevant body for the current year will be attached;
- Proposed Physical address of the business. The address includes road, plot number, town, and county;
- Full names of the sole proprietor;
- Nationality of the sole proprietor;
- Age of sole proprietor based on national ID;
- Gender of the sole proprietor;
- Usual place of residence of the sole proprietor
- Copy of ID / Passport for the Sole proprietor;
- 2 passport photos of the Sole proprietor.
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