A partnership is ideal for small businesses having multiple promoters in an unorganized sector. This deal can be unregistered or registered.
A partnership firm is appropriate for businesses that are managed, controlled and owned by an Association of people for profit. They are relatively easy to set up and are prevalent in medium and small-sized businesses.
Although having a registered partnership is not mandatory, a partnership firm has its benefits. To create a Partnership firm, you will need to draft a partnership deed among the partners.
There are two types of partnership firms: 1) Registered and 2) Un-registered.
Get in touch with us to help you register with a Partnership firm in India.
As a Partnership Firm does not need to be registered, there are no legal mandatories. However, this hinders a firm from several legal benefits. The Registrar of Firms manages the registration procedures of Partnership Firms.
A Partnership firm can choose any name as long as it does not invade on a registered trademark. An unregistered Partnership firm’s name can be used by a company as it is not registered.
The Registrar of companies registers a Partnership deed that exhibits the ownership of the company, the profit-sharing ratio, ownership of the firm, rights and responsibilities of each partner.
Unlike a Limited Liability Partnership, a partnership doesn't need to file its annual accounts with the Registrar of Companies annually.
A bank account can be owned by a Partnership firm. To initiate the Partnership process, the KYC documents and a copy of Partnership Deed must be submitted along with any other document to fulfil the requirements of the bank.
Our financial expert will primarily assess your partnership structure and business requirements along with important details to draft a suitable Partnership Deed which is acceptable by all the partners.
Based on your requested services and requirements with the suitable authorities of the applicable states, Complisure helps to register the Partnership Deed for creating a Partnership or a Registered Partnership Firm.
We will help you obtain your PAN and TAN registration based on your requirements for your Partnership firm from the concerned authorities once the Partnership is registered.