Partnership Firm Registration

Partnering with someone can be an excellent way to start a business. But before you begin, it's crucial to register your firm. This will provide legal recognition, protect your business interests, and ensure that you can operate smoothly without any legal issues.
Don't wait any longer. Register your partnership firm in just 3 business days!

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Steps to register Partnership Firm online

Fill the form and provide documents

Just fill your contact details and share the required documents for company registration

Sign and share the documents

Our team will share the documents for signatures, just sign and share scanned copies.

Filing of registration application

Registration application is filed with concerned ROC and we will keep you updated on its status.

Overview

A partnership firm is a type of business organization in which two or more individuals come together to carry on a business venture. In a partnership firm, the partners share the profits and losses of the business according to their agreed-upon terms. The partners are also jointly and severally liable for the debts and obligations of the partnership. It is formed by a partnership agreement, which outlines the terms of the partnership, including the roles and responsibilities of each partner, the profit-sharing ratio, and the duration of the partnership. This type of business structure is popular among small businesses and professional services firms, such as law firms, accounting firms, and consulting firms.

Requirements for registration

A partnership firm must have at least two persons
Application for Registration of Partnership (Form 1)
Registered photocopy of Partnership Deed
Copy of an affidavit confirming all the details mentioned in the partnership deed and documents are correct.
PAN card and address proof of the partners
Ownership documents or rental/lease agreement, for ascertaining the principal place of business of the firm.

Features of Partnership Firm

Mutual trust and confidence: A partnership firm is based on mutual trust and confidence between the partners, who must work together to achieve common business goals.
Shared ownership: It is jointly owned by two or more partners who share the profits and losses of the business.
Dissolution: A firm can be dissolved by mutual agreement or in accordance with the terms of the partnership agreement.
Flexible management structure: It can be managed by the partners themselves or by a designated partner or manager.
Sharing of profits and losses: The profits and losses of a partnership firm are shared among the partners in proportion to their agreed-upon profit-sharing ratio.
Unlimited liability: Partners in a firm have unlimited liability for the debts and obligations of the business, which means that their personal assets can be used to pay off business debts
Mutual agency: Partners in a partnership firm act as agents for each other and can bind the firm to contracts and agreements.
No separate legal entity: It is not a separate legal entity, which means that the partners are personally liable for the debts and obligations of the business.

Process of Registration

Choose a Name: Choose a unique name for the partnership firm.
Partnership Agreement: The next step is to draft a partnership agreement. This document outlines the terms of the partnership, including the roles and responsibilities of each partner, profit sharing ratio, and the duration of the partnership.
Obtain PAN and TAN: Obtain a Permanent Account Number and Tax Deduction and Collection Account Number for the partnership firm.
Application for registration: Once the partnership agreement is drafted, and the name is selected, an application for registration of the partnership firm must be submitted to the Registrar of Firms along with the payment of required registration fees.
Registration certificate: After verifying the application and accompanying documents, the Registrar of Firms will issue a Certificate of Registration for the partnership firm

Why BizReg?

We make it easier for entrepreneurs to get their partnership firm registered online from the comfort of their home. With us, you can get your partnership firm registration done in just 7-10 working days. We provide a comprehensive package that includes not only the registration process but also guidance through the entire process. This includes company partnership agreement drafting, review and approval of partnership deed, getting the company registered with the Registrar of Firms, and more. Additionally, we also offer post-registration services like GST registration, filing of annual returns, and maintenance of statutory records.