A partnership is a form of business carried on by people known as “partners”. Essentially, a partnership is the relationship between partners who have agreed to carry on business to make profits. While a partnership is a comparatively simpler form of business than a company, forming a partnership involves many formalities. Takelegal.in’s experienced team can help you stay away from the paperwork and get your partnership engine going.
Once we receive your request to assist you with your partnership’s registration through the form on this page, Takelegal.in’s representative will contact you directly to understand your business better and run you through the registration process in greater detail.
Our representative will supply you with a document checklist to enable us to begin your partnership’s registration process. Takelegal.in will also help you choose a name that is best for your partnership as well as in compliance with the naming regulations.
Before proceeding, it will be imperative to have a partnership deed in place. Takelegal.in’s team is adept at drafting these documents and will help you with the same.
Once the Takelegal.in team ensures that all your documents are in order and you comply with the law, our representative will begin your registration process and submit all the relevant documents to the Registrar.
Once the Registrar is satisfied with the documents submitted, he shall make an entry of the partnership firm in the Register of Firms and issue a certificate of registration.
Only a person who is a citizen and resident of India can be a partner. However, non-citizens can invest in the partnership firm with prior approval from the Government of India.
Yes. An existing partnership can be converted into LLP or a company.
No. The partnership firm and the owners are the same person in the eyes of the law, and hence, it is not a separate legal entity. The owners are personally liable for the losses of the business.
No. Registration of partnership firms is not compulsory. However, getting the partnership deed registered is advisable since it helps during any future disputes.
Every partnership deed should contain the names of the partners and their addresses, the
partnership name, the date of commencement of operation of the firm, any capital invested by each partner, the type of partnership and profit-sharing matrix, and rules and regulations to be followed for the intake of partners or removal.