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Partnerships are firms in which two or more partners govern and operate their companies in accordance with the terms and objectives described in the Partnership Deed.
Ownership, management and control are managed by an association of people for profit.Small and medium-sized businesses in the unorganized sector often use partnership firms since they are relatively easy to start.
The only requirement for setting up a partnership firm is usually a partnership deed. Therefore, it can be set up on the same day.
A partnership firm enables sharing of risks by more than 1 person as the profit & losses are shared by all the partners.
The partnership firm is a separate entity and its tax is calculated separately so it can offer remuneration and interest to working partners.
Any new partner can be introduced, retired, or removed only by executing a supplementary partnership deed.
A Partnership Firm can be registered with a minimum amount of Rs. 10,000 as well. It does not require any major capital investment.
With multiple perspectives and excessive knowledge, making decisions in a partnership firm can be very effective.
While starting a business you do not have to be caught up with compliance work. Partnership Firm does not have any hassles as such.
Partnership Firm always gives you an opportunity to convert/register your business as a Private Limited Company in future.
We understand your urgency about getting legal. Therefore, we provide a hassle-free legal process. Complete any Registration in just 4 steps.
We encourage you to come up with any sort of questions related to legal documentation or any of our service, methodology implemented, quality assurance etc.
We give our best in providing consultation and give a quality output. Here are set of few questions which our beloved clients ask frequently, have a look at them.
- Photograph of all the Partners
- PAN Card of all the Partners
- ID Proof of all the Partners (Driving License/Passport/Voter ID)
- Electricity Bill or any other utility bill for the address proof of the Registered Office
It may take up to a month or 2 for the registration process to complete