Partnership Registration
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Partnership Registration
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About Partnership Registration
Overview
Partnership business is a type of business arrangement where two or more individuals control and operate a business by sharing profit and losses in the specified ratio. Such type of partnership business is most suitable among small and mid-sized businesses. Though registering a partnership is not mandatory, but legal experts always suggest the applicants get the registration before they start their business. Also, in case the partnership is registered, it will be simple for it to get turned into other entities like LLP, Company, etc. in the future.
At Least two persons can register a Partnership firm, and such a firm is directed under the rules and regulations under the Partnership Act, 1932 in which “Partnership is defined as an agreement between entities or persons that wish to share a company’s profits carried out by both or any of them acting for all.
For the registration of Partnership, you must agree upon a name and must execute a Partnership Deed, which describes the particular rights and duties of the partners. A valid Partnership contract should be written and not oral. The terms and conditions of the Partnership Deed differ according to the interest of the parties but must not conflict with any provision of the Indian Partnership Act, 1932.
Get your partnership contract written and registered with the help of legal experts at MeraLegal now.
Types of Partnership Firm
In India, there are mainly two types of partnership firms which are:
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Registered:
A Registered Partnership firm is filed with the Registrar of Firm having the rules and regulation according to the state. A registered firm receives a legal status in the eyes of the law and is legally acknowledged.
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Unregistered:
An Unregistered Partnership Firm is a partnership that is established by simply implementing a partnership deed, and the partner’s rights and responsibilities are specified as per the partnership deed. However, it is not recorded with the Registrar of Firm.
The issue of non-registration of Partnership under the Indian Partnership Act,1932
- The partners cannot force any rights under the Act.
- In case of dispute with the third party, the partnership firm cannot demand set-off.
- On the other side, the third party can challenge the firm.
Advantages of Partnership Firm Registration
There are many reasons and advantages because of which you should select a Partnership firm:
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Simple Registration Process
Registering a partnership firm is economical and straightforward as no legal formality and expenses are required.
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Easily Operative
Due to a limited number of partner’s involvement, there is flexibility in operations. Any change could be made at any time with the mutual agreement of partners.
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Minimal Compliances
Partnership firms are free from all legal requirements which other entities must follow annually.
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Easy Name Availability
As there is no act that controls the proprietorship registration, a proprietor can pick any name until and unless it does not oppose any trademark.
Frequently Asked Questions ?
MeraLegal can assist in the partnership firm registration process within 3 to 5 days, subject to Govt. processing time.
You can simply register a Partnership firm just by following the steps given below:
- Visit MeraLegal Website
- Fill up a simple form on our website providing necessary details about proprietor and business to get Partnership Deed
- Get this agreement printed on Stamp paper of particular value and register it with the aid of any nearby Registrar/Advocate.
To register a Partnership firm, at least two members are necessary.
To start any Partnership firm, there is no minimum capital needed. Hence, any amount of capital may be used to start a Partnership firm.
Partnership deeds should include the partner’s names and their addresses, partnership name, the start date of the firm's service, along with laws and guidelines to be implemented for the addition or removal of partners.
You will sign your application using the Aadhaar-based ESign facility or a Digital Signature Certificate (DSC). Please note DSC is compulsory for
For Directors And Shareholders (In Scan only) :
- PAN Card
- Photographs
- Gram Panchayat Declaration Certificate that an individual is a producer.
- Anyone Identity Proof(Aadhar Card/Passport/Election ID/Driving License).
- Address Proof(Bank Statement/Telephone Bill/Mobile Bill/Electricity Bill), latest by month
Note: AADHAR CARD/PASSPORT/DL/VOTER-ID WILL NOT BE ACCEPTED AS ADDRESS PROOF.
For Directors And Shareholders (In Scan only) :
- In case the property is Rented: Rent agreement
- In case the property is Owned by any Director or any Relative: House tax receipts or Registry Proof + Latest Electricity bill + NOC from the Owner on the name of any Director.
Information necessary ( NO Documents, Only information needed)
- Educational Qualification of all the concerned individual
- Birthplace of all the persons
- Any Landline number
- Directors Email IDs
- Mobile Numbers of Directors
- State in which the organization will be registered
- Complete Registered office address with PIN Code
- Proposed Name of the partnership firm
- The proposed business of the partnership firm in detail
You can use a Partnership agreement for just Rs 1500 with the support of MeraLegal experts. Call us for today’s offer
MeraLegal assists with the registration process of a partnership firm without any trouble. Just follow the three steps listed in the above section.
Please refer to the process listed in the above section for partnership firm online registration.
These fees rely on many factors and differ from case to case basis. MeraLegal offers the best price in the market. To know the details, please contact our experts.
You can get the partnership firm registration form on the MeraLegal website.
