06 June 2021
I am Practicing as Company secretary since 2017 from my self name. I want to register my firm(Proprietorship) that is why i want to know about Proprietorship Firm Name Approval from Council, Form/s to be filled and procedure to sent to Institute(online or offline).
10 August 2024
To register a Proprietorship Firm name with the Institute of Company Secretaries of India (ICSI), you will need to follow specific procedures set by the ICSI. Here’s a step-by-step guide on the process for obtaining name approval for a Proprietorship Firm:
### **1. Understanding the Requirements**
1. **Name Approval**: Before you can use a name for your Proprietorship Firm, it needs to be approved by the ICSI. This ensures that the name adheres to the guidelines and does not conflict with existing names or trademarks.
2. **Compliance with ICSI Guidelines**: Ensure the proposed name complies with the ICSI's naming guidelines, which typically include avoiding names that are too similar to existing firms, names that could be misleading, and names that do not follow prescribed formats.
### **2. Steps for Name Approval**
1. **Prepare a Request for Name Approval**: - **Name Proposal**: Draft a formal request for the proposed name of your Proprietorship Firm. This should include the name you wish to use, along with alternative names in case the first choice is not available. - **Supporting Documents**: Include a brief description of the firm’s activities and your credentials as a Company Secretary.
2. **Fill out the Required Form**: - **Form to be Filled**: ICSI requires the submission of Form `MSME-1` for name approval, which can be downloaded from the ICSI website or obtained from the ICSI regional offices. - **Details to Include**: Provide details such as your name, proposed firm name, and the nature of business.
3. **Submit the Form and Documents**: - **Online Submission**: As of recent updates, ICSI offers an online submission option through their official website. Log in to the ICSI Member Portal and navigate to the appropriate section for firm name approval. - **Offline Submission**: Alternatively, you can submit the form and documents physically at your regional ICSI office. Ensure you keep a receipt of the submission for your records.
4. **Payment of Fees**: - **Fee Payment**: Pay the required fee for the name approval application. The fee amount can be confirmed from the ICSI website or regional office. Payment can usually be made through online modes or via demand draft as instructed by ICSI.
5. **Await Approval**: - **Processing Time**: The processing time for name approval can vary. It is advisable to follow up with the ICSI office if you do not receive a response within the expected timeframe. - **Approval Notification**: Once the name is approved, you will receive a notification from ICSI confirming the approval of your Proprietorship Firm name.
### **3. Post-Approval Actions**
1. **Register Your Proprietorship Firm**: - **Business Registration**: After receiving the name approval from ICSI, register your Proprietorship Firm with the relevant local authorities. This may include obtaining a trade license, GST registration, and other necessary permits.
2. **Update ICSI Records**: - **Inform ICSI**: Update your firm details with ICSI, including the approved name, to ensure all records are current.
### **4. Sample Request for Name Approval**
Here is a sample format for requesting name approval:
**To,** **The Secretary** **Institute of Company Secretaries of India (ICSI)** **[Regional Office Address]**
**Subject: Request for Approval of Proprietorship Firm Name**
**Respected Sir/Madam,**
I am writing to request approval for the name of my proposed Proprietorship Firm. I am a practicing Company Secretary since [Year] and wish to operate my firm under the following name:
1. **Proposed Name**: [Your First Choice Name] 2. **Alternative Names**: [Alternative Names if Any]
The proposed firm will engage in [brief description of your business activities]. Attached herewith are the relevant documents for your reference.
Please find the details below:
- **Name of Applicant**: [Your Name] - **Proposed Firm Name**: [Proposed Name] - **Nature of Business**: [Nature of Business] - **Address of the Firm**: [Proposed Address of the Firm]
Kindly process my request at your earliest convenience. I am attaching the completed Form MSME-1 and the payment receipt for the applicable fee.
Thank you for your consideration.
**Yours sincerely,**
**[Your Name]**
**Attachments:** 1. Completed Form MSME-1 2. Payment Receipt 3. Any other supporting documents
### **5. Contact for Queries**
For any specific queries or updates, you may contact the ICSI Regional Office or visit their official website for the most current information and guidelines.
By following these steps, you should be able to get your Proprietorship Firm name approved by ICSI and proceed with your business registration.
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