Partnership is an understanding between two persons who agree upon sharing their profits and losses. A partnership firm is formed by an association of people and the purpose of formation is to make profit from the business.
A minimum requirement to register a partnership firm is a minimum of two partners and a partnership deed.
Documents required for registration
- Aadhar card
- PAN card for Indian nationals
- Foreign nationals need to submit a notarized copy of their passports
- Bank statement
- Electricity bill for residence proof
Registered office proof
Registered office of all companies must be in India
- In case of a rented property, rent agreement and NOC should be obtained by from the owner.
- In case of a self-owned property, electricity bill or any other address proof is required
- Original partnership deed
- Documents submitted must be valid and not more than 2 months
Process involved in partnership registration
The application incudes details like name if the firm, place where the business operates, name of any other place the business operates, joining date of partners, full name and permanent address of partners.
The application is verified and then signed by all the partners
Submission of documents
- Application in Form 1
- Certified copy of the partnership deed
- Proof of ownership of the place which is the rental or lease agreement
The name of the firm must not contain any words that may express the approval or patronage by the government. In such cases, a written consent should be obtained by the government for the usage of such words as a part of the businesses name.
Once the registrar of firms is duly satisfied with the application, he will record the entry of the statement in the registrar of firms and issue a certificate of registration. Talk to our experts about the partnership registration process to get a clear picture of the procedure of registration.