Partnership Firm Registration

  • blue tick

    Ideal for Small Scale Business Size.

  • blue tick

    Our Professional Team understands your requirements and assists you in selecting the Best Suitable Business Structure.

  • blue tick

    Starting at Rs 4,999/- Onwards

+

100% Online, Easy & All India Services

+

12+ Years Experienced Team of Professionals

K

Total Number of Served Clients

+

Availability in Major Indian Cities

Get in Touch

You can reach us anytime

Overview

A partnership Firm is among the key types of business organization. A partnership is formed when two or more persons mutually agree to come together and start a business on mutual consent.

The Indian Partnership Act, of 1932 governs and regulates partnership firms in India. It defines it as an association of two or more persons to carry on as co-owners of a business for profit motive.

Feature Image

Benefits Of Partnership Firm Registration

Limited Liability

In a Limited Liability Partnership (LLP), partners are only liable for debts up to their capital contributions, protecting personal assets. One partner is not accountable for another's actions, unlike in traditional partnerships.

Separate Legal Entity

An LLP Is an artificial person created by law. It is governed under the LLP Act, 2008. Thus, it creates a separate legal identity of itself, from its partners, and provides immunity to the owner’s personal property or assets in case of bankruptcy.

Lower Compliance

Annual Compliance of an LLP is less as compared to a Private Limited Company. Thus, the annual charges of LLP Compliances are less than others, making it a cost-effective type of formation.

Easy to Start and Close

The Formation and Closure Process of an LLP is simple and cost-effective, as compared to a Private Limited Company. Thus, it is very effective for those start-ups who are unsure about the future of their business, as it leads to minimum cash outflow.

Feature Image

Documentation For Partnership Firm Registration

Partners

  • blue tick

    PAN Card of each partner

  • blue tick

    Address Proof of each partner(Aadhar card, Voter id, Passport, DL)

  • blue tick

    Latest Passport Size Photograph of each partner

Office Premises

  • blue tick

    Latest Electricity Bill, Water Bill, and Gas bill of the office premises

  • blue tick

    NOC from owner/Rent Agreement

Feature Image

Process

Explore

Digital Signature Certificate (DSC)

1

Persons who will be acting as a Partner or Designated Partner of the proposed company, need to apply for DSC. It is issued by the government-affirmed offices. DSC is required to sign and validate all the documents, as the entire process of registration is online.

Name Search and Approval

2

Proposed name availability needs to be preliminary checked on MCA, and then Name Reservation needs to be filed under “RUN -LLP”. ROC will check the name availability on different parameters and then will issue the name approval letter.

LLP Incorporation

3

Form FiLLip needs to be filed for incorporation of LLP along with the DIN allotment and PAN TAN Application. This contains the Address of the Proposed LLP, Business Activities to be carried out, Details of Partners, and the Contribution by Partners.

Incorporation, PAN & TAN Certificate

4

Once Form FiLLip is approved; a Certificate of Incorporation is issued by the Ministry of Corporate Affairs along with the PAN and TAN Card of the LLP.

Filing of LLP Agreement

5

An LLP Agreement is to be filed in Form No 3 within 30 days of the date of Incorporation. LLP Agreement needs to be printed on Stamp Paper, of the State where the registered office of the LLP is located.

Opening Bank Current Account

6

Persons who will be acting as a Partner or Designated Partner of the proposed company, need to apply for DSC. It is issued by the government-affirmed offices. DSC is required to sign and validate all the documents, as the entire process of registration is online.

Compliances

COMPARISON WITH OTHER FORMATS TO CHOOSE THE BEST SUITABLE FOR YOUR BUSINESS
LLP vs. Private Limited Company vs. Partnership Firm vs. OPC Company vs. Proprietorship Firm

Proprietorship FirmPartnership FirmLimited Liability PartnershipPrivate Limited CompanyOne Person Company
Governed byNot Governed by any specific actIndian Partnership ActLLP Act, 2008Companies Act, 2013Companies Act, 2013
RecommendedSole PromoterSmall BusinessSmall BusinessStart-ups and growing businessSole Promoter
+
RegistrationNAOptionalMandatoryMandatoryMandatory
+
Members LiabilityUnlimitedUnlimitedLimitedLimitedLimited
+
Separate Legal EntityNoNoYesYesYes
+
Number of MembersOnly 12 – 502 – Unlimited2 – 200Only 1
+
TransferabilityNon-TransferableNon-TransferableTransferable, if ROF registeredTransferableTransferable
+
ComplianceLowLowModerateHighHigh
+
Statutory AuditNoNoBased on TurnoverApplicableApplicable
+
TaxabilityLowHighHighModerateModerate
FAQ

Any Questions? Answered

Our FAQ section addresses common inquiries to help you find the information you need quickly. If you have further questions, feel free to reach out!

The Partnership Act allows both Registered and unregistered Partnerships to operate.The only difference between the both is, the Unregistered Partnership Deed needs to be notarized by a Notary public and Registered Partnership needs to be submitted at ROF.
A minimum of two partners and a maximum of 20 partners are allowed in a partnership firm.
There is no applicability of Statutory Audit in the case of the Firm. However, Tax audits may be applicable depending on the Turnover of the Partnership Firm.
A Partnership Firm can be converted into a Private Limited Company or an LLP, but the conversion process is expensive and time-consuming. Thus, it is advisable for entrepreneurs to choose their business structure wisely.
Partnership Deed is a written legal document that contains all the rights and duties of the partners. Partnership deed can be written or verbal but it is advisable to have a written partnership deed.
There is no Minimum amount of Capital required to form and start a Partnership Firm.