A 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 a profit from the business.
A minimum requirement to register a partnership firm is a minimum of two partners. Partnership Act, 1932 has been in existence before the Independence of India. It is valid only upon the execution of Partnership deed stating the respective rights and obligations of the partners and it can be considered valid only upon written and not oral.
Here is the list of basic documents required for Partnership Registration
KYC documents required for Partners
- Copy of Aadhar card
- Copy of PAN card
- Copy of Passport / Driving License / Voter Id
- Copy Latest Bank statement / Gas Bill / Telephone Bill of not less than 2 months old.
- Copy of latest Passport size photographs
Documents required for registered office proof
The registered office of all companies must be in India
- Registered office proof of the company stating if the property is rented/ leased.
- Copy of the rental agreement or lease agreement.
- Copy of electricity/water bill (business place)
- In case of own property, copy of sale deed and electricity bill is sufficient
- Copy of no objection certificate from the owner of the property
A partnership firm requires mutual trust and understanding between the partners in every aspect of the business. It is a firm that is controlled by an association of people. Every decision-making process concerning the business is done by the partners. The partnership firm is governed by the Indian Partnership Act, 1932.
Talk to our experts about the partnership registration process to get a clear picture of the procedure of registration. For more details, call us at +91-9900328729, +91-80-40909797.