Hi Mahesh, it depends on the scale of your business. As a DP holder, you don’t need a LOC to do threading business if the scale of your business is really small, and you are only providing the service to your friends. You must take note that you are not allowed to hire any workers if you want to run a home-based small-scale business.
If you are planning to grow your business, we would recommend you to get a EP and incorporate a company to properly run your business. In this way, you have more creditability for your business and your personal assets are protected if the business doesn’t go well.
Please feel free to contact one of our incorporation specialists should you need help in incorporating a company as a DP holder. We are happy to help. 😊