Partnership Firm Registration
Simple Co-Ownership for Small BusinessesWhat is a Partnership Firm?
A **Partnership Firm** is created when two or more individuals agree to share the profits of a business carried on by all or any of them acting for all. It is governed by the Indian Partnership Act, 1932.
It's a common choice for joint ventures, traders, and small local businesses due to its **ease of formation** and minimal initial compliance. However, unlike LLP, partners have **unlimited personal liability**.
Quick Facts
- **Minimum Partners:** 2
- **Liability:** Unlimited (Joint and Several)
- **Governing Act:** Indian Partnership Act, 1932
- **Registration:** Optional (but highly recommended)
- **Ideal For:** Traders, Small Family Businesses
Advantages of Registered Partnership
Easy to Form
Minimal formalities and lower cost compared to LLP or Pvt Ltd Company.
Legal Standing (If Registered)
A registered firm can sue a third party, which an unregistered one cannot.
Easy Dissolution
Partnership can be dissolved or reorganized with fewer legal hurdles.
Partnership Registration Process
Name & Capital Finalization
Decide on the firm's name, registered address, and partner capital contributions.
Partnership Deed Drafting
Drafting the Partnership Deed covering profit sharing, duties, and dissolution terms.
Stamp Duty & Notarization
The Deed is executed on appropriate stamp paper and notarized/registered.
Filing with Registrar of Firms (RoF)
Filing Form A and C along with required proofs for formal registration (State level).
Partnership Registration Package
Ensure your partnership is legally sound and fully registered for better protection:
Partnership Firm Setup
- ✔ Partnership Deed Drafting
- ✔ Partner KYC Collection & Verification
- ✔ Assistance with Notarization/Stamp Duty
- ✔ Filing with Registrar of Firms (RoF)
- ✔ PAN Card Application for Firm
- ✔ Bank Account Opening Guidance