Partnership Firm Formation Cost Starts from – ₹ 2,999/- Free GST & MSME Registration
Fill the below details to Get Free Quote
- Start Your Startup Business as Partnership Firm in Just 1 – 2 days.
Step 1: Fill up the Contact Form
Step 2: Our Expert will Get in Touch with You
Step 3: Our Expert will Ask for KYC Documents
Step 4: Our Expert will Prepare Draft Partnership Firm Agreement
Step 5: Our Expert will send you Agreement along with Pan Tan Applications
Documents Required For Online Partnership Firm Formation
- Passport Size Colour Photograph
- Colour Scan Copy of PAN Card – Self Attested
- Colour Scan Copy of Aadhar Card – Self Attested
- For Registered Office Address Proof – Any One Self Attested
(Latest Electricity Bill / Latest Telephone Bill / Latest Gas Bill)
Checklist for Partnership Firm Registration
For Registering the Company in India following Checklist needs to be followed
Minimum Two Partners: A Partnership Firm must have atleast two Partners
Minimum Capital Contribution: There is no prescribed minimum capital amount for a registration. However it is advisable to keep a minimum amount for current account opening. A Firm can have an Capital of at least Rs. 5,000 or less.
Why Partnership Firm ?
A Partnership is defined as an artificial person created by or under law for the time being in force, with a Separate legal Status.
Inexpensive: Partnership Firm Formation is relatively inexpensive
Minimal Compliances: Partnership Firm has to follow Minimum Compliance’s Like Filing of Income Tax Return only
Easy to Set Up: Partnership Firm is easy to setup. It Can Hardly Take 1 -2 Days to Setup Your Business Entity as Partnership Firm
Owning property: A Registered Partnership Firm registered under law can acquire, own and dispose off, property in its own name. No any Partner can claim right upon the property of the Firm as long as the Firm is a going concern. Therefore, property of the Firm is not the property of the individual Partner.
Can Sue or Be Sued: A Registered Partnership being an independent legal entity can sue and can also be sued in its own name. A person can take legal action on his / her name on company also. Similarly, Firm being independent legal entity can take legal action in its own name against another person.
Borrowing Capacity: As the Registered Firm is separate legal entity and artificial person in the eyes of law Firm can borrow funds in their own name.
FAQ on Partnership Firms
Below mentioned are the requirements to register a Partnership Firm
- At least 2 Partners are required to Register LLP
- A Place where business needs to be registered must be provided
- KYC Documents for Partners of Firm
On an average, Partnership Firm are Formed by Intella Legals in 1 to 2 days. The time would vary on a case to case basis, based on the time taken by You to submit the necessary documents.
No. There is no requirement for minimum capital to Form Partnership.
Capital Contribution means the minimum amount which partners of Partnership decides to deposit in Firm Bank Account before Signing of Partnership Deed. Partners of LLP’S are Compulsory required to submit their Capital Contribution in LLP’s Account soon after Forming Partnership Deed.
Yes, You can Register at a commercial or a residential place by providing necessary proof like Electricity Bill / GAS Bill / Telephone Bill .
A Registered office is a place where communication, if any, from Government Department and other concerned authorities, can be received. The Registered Office Address is also displayed at the portal of ROF.
Yes, You can be a Partner or Sleeping Partner of a Firm even if you are already working. However, you must check that your employment agreement do not contain any restrictions for you to become a Partner or Sleeping Partner in any Firm
Digital signature is just like your hand signature in electronic form. It is used in submitting necessary filings with Government Authorities
Partnership Deed / Partnership Agreements contains the details of the main and ancillary objects of the proposed Firm and It also contains the details of the rules, regulations and procedures for the routine conduct of the business of the proposed Firm. Agreement also contains the details of the name of its Partners or Sleeping Partners of Firm
For Partnership Formation we require Photo, PAN, Aadhar Card and Bank Statement of Partners, and we also require Electricity Bill / Gas Bill / Telephone Bill for Registered Office Proof
Once Firm is Formed, it must fulfill following requirements on priority:
- Open a Bank account of the Firm
- Deposit Capital as mentioned while Drafting Partnership Deed / Agreement
The whole process of Partnership Firm Formation is online. So, Individual Partners or Sleeping Partners is not required to go anywhere to Form Partnership . You are required to send in your documents via email and fill up your Contact details to get it done.
Every partner is jointly and individually liable with all the other partners for all acts/activities of the firm, during the course of business while he/she is a partner.