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Partnership Registration

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Procedure
Definition
Documents
Steps
Eligibility
Need
FAQ

Procedure For LLP Registration


Complete our Partnership Form

You are required to fill the details in our simple online questionnaire and submit documents.

Verification of Documents

For further procedures, details provided by you will be verified by our experts.

Partnership Deed Drafting

Further after submitting your documents we shall draft your Partnership deed.

Apply for TAN & PAN

We will create all the required documents and file them with ROC on your behalf.

Your work is completed

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What is Partnership Registration ?


A Partnership is a business structure in which at least two people oversee and operate a business as per the terms and objectives set out in the Partnership Deed. Partnership registration is simply easy and is common among small and medium-sized businesses in the disorderly divisions. Partnership Registration is done by LegalRaasta.

For Partnership Registration, you must agree on a firm name and then build up a partnership deed. It is a document expressing particular rights and commitments of the partners and to be substantial it should be written and not oral.

The terms of the Partnership Deed are often varied to suit the interests of the partners and may even be made contrary to the Indian Partnership Act, 1932 however in case, if the Partnership Deed is quiet on any point, then the arrangements of the Act would apply.

Choose Partnership because
  • ✔   Partnership registration is extremely simple.
  • ✔   Partnership registration is affordable in comparison to LLP.
  • ✔   It has the least compliance requirement.

Documents Required For Partnership Registration


Statement in Form 1 with the prescribed fees.

Proof of ownership or rent/lease of the location of your business. (e.g. Electricity Bill/ Water Bill or Rent/Lease/Leave and Licence Agreement of Business Place)

Notarised True Copy of the Partnership Deed stating the following :
  • The firm-name
  • The nature of business of the firm
  • The place or principal place of business of the firm
  • The names of any other places where the firm carries on business
  • The date when each partner joined the firm
  • The names in full and permanent addresses of the partners
  • The duration of the firm

Copy of PAN Card of partners

Copy of Aadhaar Card/ Voter identity card

Steps to form an Partnership Registration


Step 1 :

All the previously mentioned records must be submitted to the Registrar of firms of the state


Step 2:

An authentication of Registration is then given, by the Registrar, and a duplicate should be given to all the accomplices


Step 3:

Likewise, a different enrollment with the Income Tax office is to be done to maintain any future problems and should get a PAN card and a bank account under the name of the Partnership firm

What is Partnership?


Partnership in the corporate world alludes to a relationship when at least two individuals choose to share the benefits of a business carried on by them all or any of them representing all. It’s commonly done in legitimate terms. The level of possession varies and relies upon specific elements. A partnership firm in this manner is a firm that permits joint responsibility of business. While setting up a Partnership firm, there are certain rules and regulations that have to be followed. Enrolling a partnership firm is not mandatory under the Indian Partnership Act, 1932 but only Maharashtra has made their enrollment mandatory. Further, you can register a partnership firm at any point in time that is even several years after formation. Both registering and not registering a partnership firm has its own benefits; however, like a coin that has two faces, it certainly has its own downside too. We have described below in brief about how a partnership firm works and how to register for a partnership firm in India.

The partnership is comparatively easy to start out, however; there are certain conditions and limitations to be followed in setting them up. Likewise, as per the Indian Partnership Act, 1932, the assent of all the partners in a partnership firm is needed in fundamental issues (like an admission of new partners, dissolution of the firm, conversion of the firm, etc.) and a dominant part in different issues and there should be sharing of all considerable number of benefits or misfortunes made in the business. It likewise expresses that there must be a legal agreement that There are certainly more guidelines while setting up a Partnership firm, unmistakably expressed in the Indian Partnership Act,1932, and to avoid any severe actions made by authorities towards your firm they should be followed strictly.

Why Partnership Registration ?


Relatively Inexpensive
Minimal Compliances
Easy to establish
Audit not required

Need for Partnership Registration


If you don’t register your Partnership:

A partner cannot sue firm: A partner in an unregistered partnership firm can’t sue the firm for upholding any rights under the Indian Partnership Act, 1932


Can’t guarantee Set off in a dispute with a third party.


The firm cannot sue outsiders would have the option to sue the firm regardless of enrollment.

Minimum Requirements for Partnership Registration


Minimum 2 Partners
No fixed minimum Capital Requirement

Why Choose Legal Raasta


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Frequently Asked Questions


At least two partners are required for LLP registration. The maximum partners can be 200. If you are the sole owner, you can register as a One Person Company.

Any individual/organization can become the partner in LLP including foreigners/NRI’s. However, the individual must 18+ above in terms of age and should have a valid PAN card.

Our procedure is 100% online which means there is no compulsion for you to be present at our office physically. A scanned copy of documents can be sent to us via mail, and we will handle the rest. You will get the company incorporation certificate from MCA via courier at your business address.

We do not have any hidden charges. Our system is quite transparent. After making your payment, we will send you an all-inclusive invoice, with no hidden charges. Our team supports you till you get your LLP bank account.

You need to have a bank account with a minimum balance, which could be as little as Rs. 5000. You need not invest any more capital in starting the business. You needn’t even deposit this amount to the bank. You can also show that the capital has been utilised as the pre-incorporation expenses of LLP e.g, LLP registration expenses. You can also show this capital has been infused in form of assets such as computers etc.

Yes, but only after he has been assigned with DIN/DPIN. However, at least one designated partner in LLP must be a Resident of India. The foreign director can also be a majority shareholder in the company.

Yes, you can register your LLP at your residential address. It is perfectly legal to start the company at your home or in your garage. MCA team typically doesn’t visit your office. You just have to provide your home address proof such as rent agreement or electricity bill.

Yes, you as a salaried person can become a partner in an LLP. You need to check your employment agreement if that allows for such provisions. In most, cases employers are comfortable with the fact that their employee is a director in another company.

No, you can’t convert your LLP into a Private Limited Company as it is not MCA. Both the LLP Act, 2008, and the Companies Act, 2013 don’t have any provisions on the conversion of LLP is a private limited company. However, if you want to expand your business you can register a new Private Limited Company with the same name as that of the LLP. The LLP company just needs to issue a no-objection certificate.

LegalRaasta provides LLP incorporation services across India in all cities. We have done LLP registration in Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Ahmedabad, Kolkata, Surat, Pune, Jaipur, Lucknow, Kanpur, Nagpur, and other Indian cities.

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