The medical store owner should decide the
Business structure for the medical store and apply for its registration accordingly. Below are the types of business structures a medical store owner can choose to open a medical store: Proprietorship Registration In proprietorship business, the medical store is owned by only one person. A sole proprietor operates and manages the medical store. There is no need to obtain any specific registration to establish a proprietorship. Sole proprietor should open PAN card and bank account to run the business. Partnership Registration Partnership firm means that the medical store is established by two or more partners who jointly.Operate the business as per the partnership deed executed by all the partners. It should be registered with the Registrar of Firms. One Person Company (OPC) Registration A company registered by one person as a single person is called One Person Company (OPC). OPC can Denmark Phone Number Data have only one member who operates a medical store. When a medical store is registered as an OPC company, it enjoys all the benefits of a company like limited liability of a member, perpetual succession, separate legal entity, etc. OPC must be registered with the Registrar of Companies (ROC). Private Limited Company Registration.
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Medical stores can also be registered as a private limited company with the Registrar of Companies. A private limited company is started by at least two members and two directors. However, the company cannot issue a prospectus inviting the public to subscribe for its shares. Limited Liability Partnership (LLP) Registration Limited Liability Partnership (LLP) Registration: Recently, Limited Liability Partnerships (LLPs) have become quite popular. Medical store owners are considering setting up their business as an LLP. Two or more partners set up an LLP under an LLP agreement executed by all the partners. The function of LLP is similar to that of a partnership firm, but it has the features and advantages of a company. LLP must be registered with the Registrar of Companies. Documents required for Medical Store Registration (Documents for Medical Store Registration in Hindi) Pharmacy licence application. Drug licence deposited fee or challan invoices. Blueprint or key plan for the premises. The basis of possession of the premises.
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