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Registration of Partnership

Partnership Firm is an association of two or more persons agreed to share the profits of a business carried by every partner or any one of the partners. The members are individually termed as partners collectively called as firm. The main types of partners are active partner, sleeping partner and nominal partners.

Registration of Partnership firms is not compulsory but it will provide you legal rights as well as a professional status. Registering the Trademark of your Partnership Firm will help you to safeguard your identity and restrict others from using it.

Advantages on Registration of Partnership Firm

Legal Right

Registration of partnership firms gives you the legal right, the firm cannot file legal proceedings against any partners or third parties if it is unregistered. Registration gives a right to sue.

Sharing of Risks

Unlike sole proprietary firms, the risk of the partners will be shared among the partners. It helps to reduce the burden of work.

Easy Formation

The formation of a partnership firm is easy to start. The agreement among the partners is enough to initiate your firm. This helps to increase young entrepreneurs for the development of their business and startup ideas.

Sharing Financial Resources and Skills

Partnership Firm has more financial resources by sharing the money among the partners. It also helps in bringing different kinds of ideas together which leads to efficiency in business operations.

Documents required for Registration of Partnership Firm

ID Proof:Aadhar / Voter ID / Driving licence / Passport
Address Proof and Utility Bill:The Address proof of the partners along with the Proof of the registered place of business (Ownership documents/ rent or lease agreement) or any bill in relation to electricity /landlord bill / bank statement.
Partnership Deed: Partnership deed is an agreement between the partners which deals with all the details regarding their business, sharing of profit, loss, capital, types of partner etc
Photos:
PAN:The PAN card of the respective Partners and designated authorities of the firm.
DSC:Digital signature is the electronic signature format of the partners for the purpose of e-filing the register of your firm.
NOC (Owner/Landlord):No objection certificate by the owner / landlord must be enclosed.
Passport:Passport of the partner is required in case of any Non-Resident Indian (NRI) / Foreign National partners.