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Exclusively for Entrepreneurs
GST Registration Free
Shop Act Free
MSME Certificate @ Rs. 999/-
Import Export License @ Rs. 1999/-
Trademark Application @ Rs. 1499/-
One Year Free Consultancy
A partnership firm is best for small businesses that plan to remain small. Low costs, ease of setting up and minimal compliance requirements make it a sensible option for such businesses. There are two types of Partnership firms, registered and un-registered Partnership firm. It is not compulsory to register a Partnership firm; however, it is advisable to register a Partnership firm due to the added advantages. A General Partnership is a business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in the Partnership Deed.
Partnership Deed, along with PAN and TAN can be received post application of the Partnership firm registration to registrar of the firm. You can officially open a current bank account with the partnership deed and begin your business operations.
Amplus is a leading legal consultant, offers quick Registration service in India. Amplus can help you register all types of Companies and Startups. The average time taken to complete Partnership firm registration application process is about 6 - 8 working days, subject to government processing time and client document submission. Get a free consultation for Partnership firm registration and business startup before and after the registration of partnership firm. Amplus will take care of all legal compliance of your business under one roof by amplus experts CA/CS/CMA/Advocates.
By filling up the above inquiry form you can speak to our expert advisor on the partnership firm process.
Registering Partnership firm in India has many benefits. With the registering Partnership firm, Low costs, ease of setting up and minimal compliance requirements make it a sensible option.
The Partnership firm Registration process is done by our Amplus expert, so you don't even have to leave your home to get your entity registered. At Amplus, we complete the Partnership firm Registration application within 6-8 working days.
Minimum Compliance, No Annual filling.
No Minimum Capital restriction.
Low registration cost.
Flexible Agreement option between partners.
Greater capital contribution and greater stability.
Increases the potential to grow big and expand.
A minimum of two Persons is required to start a Partnership firm. A maximum number of 20 Partners are allowed in a Partnership firm.
The Partner must be an Indian citizen and a Resident of India. Non-Resident Indians and Persons of Indian Origin can only invest in a Proprietorship with prior approval of the Government of India.
There is no limit on the minimum capital for starting a Partnership firm. Therefore, a Partnership firm can be started with any amount of minimum capital.
Partnership firms are registered by the Registrar of Firms, under the Indian Partnership Act, 1932.
Only a registered Partnership firm can file a suit in any court against the firm or other partners for the enforcement of any right arising from a contract or right conferred by the Partnership Act. Also, only a Registered Partnership firm can claim a set off (i.e. mutual adjustment of debts owned by the disputant parties to one another) or other proceedings in a dispute with a third party. Hence, it is advisable for Partnership firms to get itself registered sooner or later.
Liability of the Partners is unlimited, and the partners are said to be jointly and severally liable for the liabilities of the firm. This means that if the assets and property of the firm is insufficient to meet the debts of the firm, the creditors can recover their loans from the personal property of the individual partners.
No, a Partnership firm has no separate legal existence of its own i.e., the Partnership firm and the partners are one and the same in the eyes of law. Liability of the Partners is also unlimited, and the partners are said to be jointly and severally liable for the liabilities of the firm. This means that if the assets and property of the firm is insufficient to meet the debts of the firm, the creditors can recover their loans from the personal property of the individual partners.
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