Partnership Firm Registration

A General Partnership consists of a minimum of 2 people who agrees to manage a business based on the terms and conditions set in a Partnership Deed. Partnership firms can be registered by 2 persons in any State across India.

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Overview on Partnership Firm

Features of Partnership Firm Registration

Types of Partnership

Benefits of Partnership Firm Registration in India

Process for Partnership Firm Registration in India

Documents Required for Partnership Firm Registration

Main Components of Partnership Deed

Difference between Partnership Firm and LLP

Post Partnership Firm Registration Requirements

Overview of Private Limited Company Registration

A Private Limited Company is a privately maintained small business existence, which is one of the highly recommended means to start a business in India. The Companies Act 2013 governs private limited company registration in India.

While, minimum 2 shareholders are required to start a private company, while the higher limit of members are 200 as per the Companies Act, 2013. If a private limited company faces financial risk, its shareholders are not subject to sell their personal assets, i.e. they ought to have limited liability.

  • A registered private limited company increases the credibility of your business. A registered private limited company increases the credibility of your business. A registered private limited company increases the credibility of your business.
  • Help owners from personal liability and protects from other risks and losses.
  • Draws more customers
  • Ease in obtaining bank credits
  • Offers limited liability to preserve your company’s assets
  • Greater funds supplement and more attractive stability
  • Enhance the potential to grow big and expand

Starting a private limited company offers many advantages. Some of them are as follows:

Limited Liability
The responsibility of the members of a private limited company is restricted to their share only as the private limited company is a separate legal entity.
Separate Legal entity
A private limited company is a separate legal entity which posses all the rights to sue or to be sued. It acts an artificial person which can buy a property on its own name.
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FAQs

It is not mandatory to apply for a partnership firm in India however it is always advised to get it registered with the Registrar of firms as it gives the legal status to the firm.
In case Partnership Firm is not registered then it cannot file a case against any partner or firm/ any other third party. Without partnership firm registration, Partnership Firm is not eligible to avail the power to claim the set-off.
No, Partnership Firm can only be carried by the partners' resident in India. For setting up a business entity with foreigner one can go with the Private Limited Company registration.
Once the partnership deed is notarized, the firm can apply for the PAN. We can also file PAN application on your behalf.14. With which government authority Partnership Firm registration application is submitted?
The Partnership Firm registration application is submitted with the Registrar of Firms who has the jurisdiction over the place of business of the partnership firm. On the receipt of the application registrar, the firm will scrutinize the documents issues the Certificate of Registration of Partnership Firm.

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