- The easiest and simplest form to establish
- Owned and run by an individual for the own benefit
- Request the commercial registration at Department of Business Development
- Business carried on a sole proprietor’s right, either under a personal name or a business name
- Rely on loans and personal assets to initially finance their business.
- All liabilities and debts as the personal liabilities
- Income from a proprietorship considered as the owner’s personal income
- Pay personal income tax (Prepare cash book - No bookkeeping) for tax declaration.
- File tax returns form 90, 91