PARTNERSHIP FIRM REGISTRATION
Partnership Firm offers following over other form of business structures :-
Shared Responsibility and Expertise: Partnerships allow for the pooling of resources, skills, and expertise of multiple individuals, distributing the burden of responsibility and facilitating a diverse range of perspectives and talents.
Flexibility and Ease of Formation: Partnership firms can be easily established with minimal legal formalities and lower costs compared to other business structures, making them an attractive option for small and medium-sized businesses. Additionally, partnerships offer flexibility in decision-making and operational management.
We at Corp Regis provides efficient and comprehensive Partnership Firm registration services, guiding clients through the process to establish their Partnership Firm smoothly and ensuring compliance with all legal requirements.
The process of partnership firm registration involves several steps. Here is the general overview of the process:
Choosing a Name: Select a unique name for your partnership firm that does not infringe upon any existing trademarks or violate any naming guidelines set by the Registrar of Firms.
Partnership Deed: Draft a partnership deed, which is a written agreement that outlines the rights, duties, and responsibilities of each partner. The partnership deed should include details such as the name and address of the firm, names and addresses of partners, capital contributions, profit-sharing ratios, and other relevant clauses.
Stamp Duty: Purchase the necessary stamp paper(s) based on the value of the partnership deed as prescribed by the Stamp Act of your respective state.
Notarization: Execute the partnership deed on the purchased stamp paper(s) in the presence of a notary public. Each partner must sign the deed, and it should be dated and witnessed by at least two witnesses.
Application for Registration: Prepare an application for registration in the prescribed form (Form 1) as per the Indian Partnership Act. The application should include details such as the firm name, principal place of business, partners' names and addresses, date of commencement of business, etc.
Submission of Documents: Submit the completed application form, along with the partnership deed, to the Registrar of Firms in the jurisdiction where the firm's principal place of business is located. Additional documents such as an affidavit, address proof, identity proof, and payment of the prescribed fee may also be required.
Verification and Processing: The Registrar of Firms will verify the application and supporting documents. If everything is in order, the Registrar will enter the firm's details into the Register of Firms and issue a Certificate of Registration.