Partnership Registration

Start your Business with a Partnership Firm

Partnership could be registered or unregistered. Partnerships are ideal for small business in the unorganised sector having multiple promoters (i.e. more than one).

We offer Partnership Firm Registration @ Rs. 6,500/- only

( GST Registration | Drafting of Partnership Agreement by Professional along with deed registration | Name Search & Approval | Partnership PAN | TAN )

All Process will take 7-10 days, subject to goverment & client processing time.

Documents Requirement

ID and Address Proof of Partners like Pan Card/Passport/Voter ID/Aadhar Card/Driving License Copy of the Partners.
One Business Place Address proof :-

If Rented Property:- Need Rent Agreement and NOC from Landlord.
If Owned Property:- Need Electricity Bills or any other Address Proof.
If Ancestor Property:- Electricity Bills with Consent Letter

Note : Business place and home place can be same of the Partners.

What is Partnership Firm?

A Partnership Firm is a popular form of business constitution for businesses that are owned, managed and controlled by an Association/Group of People for profit. Partnership firms are relatively easy to start are is prevalent among small and medium sized businesses in the unorganized sectors. With the introduction of Limited Liability Partnerships in India, Partnership Firms are fast losing their prevalence due to the added advantages offered by a Limited Liability Partnership.

There are two types of Partnership firms, registered and un-registered Partnership firm. It is not compulsory to register a Partnership firm; however, it is advisable to register a Partnership firm due to the added advantages. Partnership firms are created by drafting a Partnership deed amongst the Partners and our Advisor can help start a registered or un-registered Partnership firm in India.

Why Partnership?

Key Features of Partnership Firm -

2 Person Required as Partners.
Easy to Start
Provide name to Business
Partners share responsibilities and duties of the business.
No Fixed or minimum capital
No Restriction of more Capital introduction into the business.
Less Compliance

Disadvantages of Partnership Firm-

Unlimited liability.
Disagreement among the partners.
Can not raise funds easily from investors.
Less Features as Compare to LLP Formation with same cost of formation.
Maximum 50 Partners are allowed.

NEED FOR PARTNERSHIP REGISTRATION?

If you don’t register your Partnership:

Partner Cannot sue firm: A partner in an unregistered partnership firm cannot sue the firm for enforcing any rights under the Indian Partnership Act, 1932.
Cannot claim Setoff in a dispute with a third party.
The firm cannot sue third parties whereas the third parties would be able to sue the firm irrespective of registration.

FREQUENTLY ASKED QUESTIONS

1. What are the requirements to be a Partner in a Partnership Firm?

– The Partner must be an Indian citizen and a Resident of India.

2. How much money do I need to invest upfront to start the business?

– There is no limit on the minimum capital for Partnership Registration. Therefore, a Partnership can be started with any amount of minimum capital.

3. Can I convert my Partnership into an LLP or Private Limited Company?

-Yes, you can, but this is a very time consuming and expensive procedure. Further, there are some tax complications also, which may be in favour of yours or you may choose to close the existing partnership altogether and then start afresh as an LLP or Private Limited Company.

4. What is the life span of the partnership?

– The life span of the company is not dependent on or related to the life of any particular person(s) or individual(s). It could go on indefinitely until it accomplishes its objective, merges with another such company, or goes bankrupt.

5. In which cities does Steadfast Consultancy provide partnership registration?

– Steadfast Consultancy provides partnership deed services across India in all cities.

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