Partnership Firm Registration
Leading partnership registration service provider and proud legal partner of many startups
Partnership Firm Registration
Are you the group of entrepreneurs with same business vision and willing to undertake business jointly ??? Are you looking for legal solution suiting perfectly to all your partners ??? Partnership firm is a simplest legal solution to kick start your business and grow it possibly. With only 2 to maximum 20 members, entrepreneurs can easily start their business by registering it with the Registrar of Partnership Firms with very less paperwork. Partnership firm is not registered under the MCA like the Pvt Ltd, LLP or OPC.
Partnership firm is not considered as a separate entity and thus all partners are held responsible for all business liabilities. No transfer of liabilities or assets to nominees is allowed in partnership firm on expiry or non-existence of any partner. Only in state of Maharashtra, registration of partnership firm through online channel is mandatory, same rule is not applicable to other states. Partnership firm is most popular form of group business structure due to minimal compliance, no capital requirement and less paperwork involved in its formation.
For hassle –free and cost effective partnership registration, contact Envizi Now.
What do you understand by the term Partnership Firm?
Private Limited Company is a type of company registration requiring minimum two directors and is registered under The Company Act, 2013. Entire registration process is monitored by Ministry of Corporate Affairs (MCA). This type of company registration is most suitable to start-ups who are looking for investors or venture capital (VC).
Basic Requirements to Start as Partnership Firm:
- Register with any name:-As your business is not going to register with any government authority, burden of choosing a unique name is released in case of partnership firm.
- Partnership Deed:-Partnership deed is an agreement made between all the partners recording all the details of terms and conditions of partnership involved.
- Shop Act or GSTIN and Current Account:-To start your partnership firm, registering a Shop Act or NOC is must. If you wish to start your business without shop act or noc, GSTIN registration and current account in the name of your business is must.
- PAN card of Directors
- Address Proof of Directors (Passbook, Utility Bills etc.)
- Identity Proof of Directors (For example voting card, Licence, Passport)
- One Color Photograph of Directors
- Office Address Proof
- Minimum Two Shareholders
- Minimum Two Directors
- The directors and shareholders can be the same person
- DIN (Director Identification Number) for all the Directors
- DSC (Digital Signature Certificate) for all Directors.
What You Get
- Director Identification No (DIN)
- Digital Signature (DSC)
- Name Approval Certificate
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Certificate of Incorporation
- Company PAN
- Current Bank Account Opening Assistance
- GST Registration
Steps for Partnership Firm Registration in Bangalore
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Advantages of Partnership Firm
Establishing a partnership business is very easy as it does not need to undergo any specific registration requirements. A law of partnership registration varies state to state, e.g. In Maharashtra, partnership registration is compulsory.
All partners are equally responsible for growth or failure of firm, thus everyone contributes equally in daily affairs of business in a very professional manner.
Profit earned through the business is equally distributed among all partners allowing them to feel that they are equal owners.
As partnership firm is not registered with any Government authority, it has to fulfill very minimal compliances. If firm has GSTIN number then partners needs to file GST and income tax return, no need of annual audit as in case of other company formats. Tax holiday upto 3.5 lakhs income.
Many banks and NBFCs consider partnership firm as a legal entity and thus provides credit facilities for their business. Also each partner takes good effort to raise funds based on their contacts and potential.
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Why Choose Us
We are leading service providers for all types of company registrations in Bangalore. Serving our customers with reliable and quality services is heart of our business. Through years we have been successful to build a long-term relationship with our esteemed customers as a result of our prompt and transparent business operations. Envizi is pioneer of Partnership Firm Registration in Bangalore. We have keen interest in our customer’s professional journey and thus we are always ready to help you at any stage of your business. Our registration solutions are proved to be very effective to many startups as they are derived through deep and expert judgments of present and future needs.
So, let’s register your partnership firm by the industry experts. Contact Envizi Now and build your business empire with strong legal pillars.