What is a Proprietorship Firm?
A proprietorship firm is owned, controlled, and managed by a sole person known as a proprietor. The business will be carried on by opening a current bank account and doing a GST registration through the Aadhar and PAN card of the proprietor.
Can Proprietorships Invest in Mutual Funds?
Yes, proprietorship firms can invest in mutual funds.
How can Proprietorship Firms Invest in Mutual Funds?
Elevo (www.elevo.money) is an investing platform that provides proprietorship firms access to invest across 3500+ mutual funds through one single platform.
For non-KYC verified proprietorship firms, the following documents are required:
- Required CVL form
- PAN card
- Aadhar card
- Passport photo
For KYC-verified proprietorship firms, the following documents are needed for onboarding on Elevo and starting an investment journey through mutual funds:
- Email id and mobile number
- PAN card copy of the Proprietorship firm
- PAN & address detail of the proprietor (For UBO details)
- Canceled cheque or latest bank account statement
- FATCA details
From whose account the transactions can be made?
The transactions can be made from the proprietorship firm’s current account. The redemption amount will be credited to the proprietorship’s current account.
What happens in case of a death of a proprietor?
In the case of the demise of all joint holders, the investments can be transferred to the nominee. In the case of the death of all joint holders and if no nominee is registered, the investments will be transferred to the legal heirs.
Don’t forget to check: Can Partnership firms invest in Mutual Funds?
Why should Proprietorship firm invest in Mutual Funds?
Proprietorship firm should invest in mutual funds to manage its treasuries in a better way. Instead of keeping monies idle in current account, the firm can now invest in debt mutual funds through Elevo.
Advantages of Investing in Det Mutual Funds through Elevo:
- Access to over 3500 mutual funds on one single platform
- Better treasury management through Debt mutual funds
- Investing option available for as less as 1 day
- No penalties
- Earn higher returns than current account
Elevo is a digital investment platform that caters to Proprietorship, Partnership, LLP, Pvt. Limited, Limited, Trust, HUF, NRIs, Minors, and Individuals.
