WHAT IS PARTNERSHIP FIRM REGISTRATION?
Partnership firm represents a business entity that is formed with a purpose of making a profit from the business. Two or more parties come together with a formal agreement (known as Partnership Deed) to own and manage the business. The risk and responsibilities are shared amongst the partners that shred the burden of an individual partner. Also, when two comes together, more capital and expertise are combined that helps to reach the business goal(s) easily.
In simplified language, we can say that partnership creates a relationship between two or more people who have agreed to carry on a business for profit, and these people are known as partners.
Legal Time is India’s leading platform in providing professional legal services through an online platform, and our team of professionals can make the Partnership Firm Registration process quick and hassle-free.
PARTNERSHIP FIRM REGISTRATION PROCESS IN INDIA
STEP 1: SELECTION OF NAME
STEP 2: DEED DRAFTING
STEP 3: DEED NOTARY
STEP 4: FIRM REGISTRATION
BENEFITS
1: EASE OF FORMATION
It is very easy to open up the Partnership Firm as compare to any form of business.
2: MINIMUM TWO PARTNERS
Two person is needed to become partners of the firm. However, maximum 20 partners are allowed in a firm (10 in banking business)
3: MINOR CANNOT BECOME A PARTNER
A minor cannot became a Partner in a partnership Firm.
4: BUDGETED
Cost wise it is very budgeted to start the Partnership Firm.
5: CLOSURE
Closing the partnership is very easy process as compare to other form of business.
Get a free consultation for Partnership Firm Registration by scheduling an appointment with Legal Time.
WHY CHOOSE US
1: STARTUP'S FIRST CHOICE
We ensure startups to focus on their project and leave all the legalities and documentations to us. From our technology driven platform and on time delivery startups prefer us to do Company registration.
2. TECHNOLOGY DRIVEN PLATFORM
100% Technology driven platform to speed up your company registration process and make your life easy
3. BEST PRICING
4. 100% ONLINE SERVICE
5. EXPERT PROFESSIONALS
3. BEST PRICING
We understand the value of money for startups. We offer complete transparency and affordable cost to startups.
4. 100% ONLINE SERVICE
5. EXPERT PROFESSIONALS
4. 100% ONLINE SERVICE
Fully online service so that you can start and complete the process without running around from the comfort of your home or office.
5. EXPERT PROFESSIONALS
At Legal Time, we work only with experienced Chartered Accountants & Company Secretaries to handle your company registration.
REQUIREMENTS
MINIMUM TWO PARTNERS
NO FDI IS ALLOWED
NO MINIMUM CAPITAL
UNIQUE NAME
DOCUMENTS REQUIRED
POST PARTNERSHIP FIRM REGISTRATION REQUIREMENTS?
Trademark/Patent Registration
Trademark and Patent gives protection from infringement and duplication. With this, competitors cannot affect your brand and market value. The logo provides protection under the Trade Marks Act 1999.
GST Registration
GST (Goods and Service Tax) registration is required for Business with annual turnover exceeds Rs. 40 Lakhs (Rs 20 Lakhs for Northeast states).GST registration is mandatory for particular businesses like Export-Import, E-commerce, and Market Place Aggregator.
Stationary
The next step is the printing of stationery such as billheads and letterheads, consisting of the name of the firm.
Get a free consultation for Partnership Firm Registration by scheduling an appointment with Team Expert.
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