Partnership Firm

Starting From ₹ 3,999 + Govt Fees

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    Brand highlights

    $1 Million

    Raised to provide quality service to startups

    5%

    Market Share in Trademark Registration

    Awarded

    by the Indian Achievers Forum

    5000+

    Startups and MSMEs Served

    About Partnership Firm Registration

    A partnership is an association of two individuals to attain a common goal. In a partnership agreement, all partners are held accountable for fulfilling their obligations. We guarantee speedy company registration at LegalSalah, and we’ll have your firm registered within 7-10 days.

    Advantages of a Partnership Firm

    Easy to start

    As there is next to comprehend legal compliance required, a partnership registration is very to begin.

    Flexibility

    Company incorporation as a partnership firm is particularly popular as it is easy to handle and scale up.

    Scalable Capital

    Company owners must finance the start-up on their own, which suggests they can determine how much money to put in, and when.

    Easy decision-making

    Partners can depend on each other to make the decision and expand their business at an organic speed

    Registration Process Flow

    1-2 HOURS

    Select Package
    Fill out the appropriate forms or speak to our experts online for assistance.

    2 WORKING DAYS

    Documentation
    We will gather the basic information and needed documents for the process initiation and will draft the documents.

    2 WORKING DAYS

    Draft the partnership deep
    Get your partnership deed notarized with our help.

    2-3 WORKING DAYS

    Notary/Registered from local court
    We will help you get register partnership firm online with the local court.

    2-3 WORKING DAYS

    Check Application Status
    Throughout The Registration Process, We Will Keep You Informed About The Status Of Your Application.

    Documents required for Partnership Firm Registration

    Minimum criteria

    Pre-requisites for Partners

    pricing packages

    Basic Package

    ₹ 3,999

    Growth Package

    ₹ 5,999

    Premium

    ₹ 11,999

    Comparison

    Document
    Comparison Basis Private limited company Llp Sole proprietor
    Raising Fund
    Start-Up India Recognition
    Complince Cost
    Suited For Growing Startup Service Provider Small Business
    Taxation Benefit

    FAQs

    A partnership is a legal agreement wherein two or more individuals give their approval to work towards a common goal, such as building a business.

    A partnership firm has an informal structure, which is why partners are not entitled to follow any detailed rules. This makes this kind of company incorporation quite common in the start-up world.

    It is not mandatory, but it is certainly suggested as you can then enjoy a range of advantages. Speak to our team at LegalSalah to know more.

    A partnership does not pay any income taxes. Instead, the profits that are generated pass through the business to the partners who are involved. Each person then reports his or her share of the business profits individually while filing taxes.

    The main difference between an LLP and a partnership firm is that the partners are personally liable for any business debts in the last. This implies creditors can go after the partner’s personal assets if required.

    If you are encountering a dispute, you can try solutions such as mediation and arbitration. However, if these don’t function, then you can take the case to court.

    It is generally suggested to have all necessary documents pertaining to your business notarized. This is because it delivers an acknowledgment that the signature appearing on the document is that of the person whose signature it purports to be. As a consequence, if you encounter a dispute with your partner in the future, the case can be settled in court, with the notarized document confirming that the partner is defaulting on the agreement.

    Some of the disadvantages of going forward with the company registration as a partnership firm contain:

    • Partners are individually responsible for business debts 
    • Partners are subject to the actions of other partners 
    • If one partner leaves, the partnership can end 
    • Shared decision-making implies you do not always have full control over internal affairs. This can direct to disagreements or paralysis of the partnership.

    The partners in a partnership firm are the owners, and thus, are not a separate entity from the firm. Any legal issues or debt incurred by the firm is the obligation of its owners, the partners.

    A partnership must have at least two partners. A partnership firm in the banking business can have up to 10 partners, while those employed in any other business can have 20 partners. These partners can split profits and losses equally or unequally.

    The deed should include the names of the partners and their addresses, the partnership name, the date of commencement of operation of the firm, the type of partnership, any capital invested by each partner, and the profit-sharing matrix, rules, and regulations to be followed for the input of partners or removal.

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