Company Fundamentals

Partnership Firm

Partnership Firm Registration in India

A general partnership is a corporate structure in which two or more people manage and operate a company in accordance with the partnership deed’s provisions and objectives. This structure is thought to have lost its relevance since the introduction of the limited liability partnership (LLP) because the partners in a general partnership firm have unlimited liability, which means they are personally liable for the debts of the business. However, low costs, ease of setting up, and minimal compliance requirements make it a sensible option for some, such as home businesses that are unlikely to take on any debt. Registration is optional for general partnerships. Contact our Comfunda experts now to know the recent partnership deed format.

Documents Required for the Registration of a Partnership

If the documents satisfy the registrar, the firm will be entered into the register of firms and a certificate of registration will be issued.

Checklist for Partnership Firm Registration

Register Your Partnership Firm Online

One of the easiest ways to start a business with someone is to establish a general partnership firm. We help you with your general partnership registration in India in the following ways.

Gathering Details

We study your business requirements.
Step 1

Drafting

We prepare the first draft and share with you within 4 working days.
Step 2

Placing an Emphasis on Perfection

We do up to two rounds of iterations, if necessary, at no extra cost.
Step 3

Benefits of a Partnership

Minimum Compliance

For general partnerships, there is no need for an auditor to be appointed or, if the company is still in the process of registration or is still unregistered, annual accounts filing with the registrar is not necessary either. Annual compliances are also lower when compared to an LLP.

Simple To Begin

A general partnership can be formed within 2-4 business days, with an unregistered deed of partnership. However, registering for the event offers its own set of benefits.

Comparatively Economical

A general partnership is substantially less expensive to start than an LLP. It will still be cost effective in the long term because the compliance needs are minor.

Name of the Partnership Firm

Any name can be given to a partnership firm as long as you fulfil the following conditions:

Timeframe

The partnership firm registration process takes about 10 to 12 working days, depending on departmental approval and reverts from each department.

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