Partnership
How To Register A Partnership Firm
Gathering Details
We are looking at your business needs.
Step 1
Drafting
In 4 workshops, we prepare and share the first draft
Step 2
Putting Emphasis on Perfection
If necessary, we do up to two iterations, at no additional cost.
Step 3
An Overview
Partnership Company Registration
A General Partnership is a corporate structure where two or more persons manage and operate a company according to the terms and objectives laid out in the partnership act. Since the introduction of the Limited Liability partnership (LLP) its partners have unlimited liability, which means that they are personally responsible for the company’s debts, this structure is thought to have lost importance. However, low costs, ease of implementation and minimum adherence requirements make it a sensible option for certain companies such as homes that will not bear debt. For General Partnerships, registration is optional.
Contact Us!
Partnership Firm
Benefits
There is no need for an auditor to be appointed in general partnerships, or for the yearly accounts to be submitted to the registrar if the company is still in the process of registration or income unregistered. Annual compliance is also lower compared to LLP. In addition, General Partnerships does not have to file taxes, depending on turnover, service and sales tax.
General partnerships can simply start within 2-4 working days with a non-registered partnership deed. Registration for the same, however, has its own advantages and benefits. The main advantage of having a registered company is that it enables you, for the administration of rights under the Partnership Act, to make legal proceedings in countries that are against another company or business members.
- A general partnership is much cheaper to start compared to LLP. Even in the longer term, compliance requirements are still very low and cost-effective. For instance, an auditor is not necessary. Home companies therefore choose to do so, although they are unrestrictedly resonsible.
Documents Required
- Form No. 1 (Application for registration under Partnership Act)
- Original copy of Partnership Deed, signed by all partners
- Affidavit declaring intention to become partner
- Rental or lease agreement of the property/campus on which the business is set
Contact Us!
Money Back Guarantee
Not happy with the service? You can request a refund at anytime within 30 days!
24/7 Support
Get support through phone, email, live chat – 24/7, 365 days.
Affordable
Much more affordable than other professionals
Fast Acting
99% of enquiries get responded in 24 hours or less