Partnership Firm
Form a partnership with ease. We draft highly detailed partnership deeds covering capital interest, profit division ratio, and dispute regulations.
Overview of Partnership Registration
A Partnership Firm is a popular structure for small and medium businesses operated by two or more co-founders. Governed by the Indian Partnership Act, 1932, a partnership is established through a legal agreement called a Partnership Deed. While registration is not mandatory by law, it is highly recommended to register the firm with the Registrar of Firms (ROF) to secure legal standing, enabling the company to sue third parties and register assets in its own name.
Why Register a Partnership Firm?
- Simple Set-up & Closure: Incredibly easy to incorporate and dissolve compared to corporate entities like Pvt Ltds.
- ROF Legal Shield: Registered firms can enforce contract rights in courts against clients or third-party vendors.
- Shared Capital & Talents: Pool financial resources, tools, and professional skills easily among co-founders.
Incorporation Checklist & Steps
Step 1: Clause Definition & Structuring
We help partners outline key parameters: capital contribution, profit/loss ratio, interest slabs, and retirement terms.
Step 2: Drafting the Partnership Deed
Our corporate team drafts a precise Partnership Deed on stamp paper, followed by notary certification and partner signatures.
Step 3: Registration with Registrar of Firms (ROF)
We compile the deed, physical form layouts, office proofs, and file the application at the local Registrar of Firms.
Step 4: PAN, GST & Bank Accounts
Once registered, we apply for the firm's PAN card, assist in opening current accounts, and acquire GST registrations.
Required Documents Checklist
- Passport photos, PAN cards, and Aadhaar cards of all partners
- Rent agreement copy + utility bill (electricity/water) of the business address
- No Objection Certificate (NOC) signed by the owner of the premises