What is Partnership Registration ?A partnership is a business entity formed by two or more individuals, called partners, who join to carry on a trade or business. A partnership generally has unlimited liability and its members are co-owners of the business. It can be structured as either a general partnership (where all partners are personally liable for the debts of the business), or it can have limited liability through the use of one or more limited partnerships. Partnerships often have legal formalities to set up, but they have relatively simple administration requirements. For Partnership Registration, you must agree on a firm name and then establish a partnership deed. It is a document stating respective rights and obligations of the partners and to be valid it should be written and not oral. The terms of the Partnership Deed can be varied to suit the interests of the partners and can even be made contrary to the Indian Partnership Act, 1932 but if the Partnership Deed is silent on any point, then the provisions of the Act would apply. A partnership is not always identical with an unincorporated joint venture (the law may impose different rights and responsibilities on partners in these two). Choose Partnership because You can handle your Business Easily It has minimum compliance requirement.
Packages Included in Partnership Registration
- Drafting of Partnership Registration Deed
- Name search & approval
- Partnership Pan Card
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
Your work is completed
Documents Required For Partnership RegistrationThe following documents are required for the registration of a Partnership firm:
- Statement in Form 1 with the prescribed fees
- Notarised True copy of the Partnership Registration 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
- Proof of ownership or rent/lease of the location of your business.(e.g. Electricity Bill/ Water Bill or Rent/Lease/Leave and License Agreement of Business Place)
- Copy of PAN Card of partners
- Copy of Aadhaar Card/ Voter identity card
Why Partnership Registration ?
Easy to establish
Audit not required
Minimum Requirements for Partnership Registration
- Minimum 2 Partners
- No fixed minimum Capital Requirement
Frequently Asked Questions
What is the minimum number of Partners required to start a Limited Liability Partnership?
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.
Who can become a partner in LLP?
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.
Do I have to be available in person to incorporate an LLP?
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.
Once I pay for the incorporation, is there any other payment before I get the Incorporation Certificate?
We do not have any hidden charges. Our system is quite transparent. After making your payment, we will send you an invoice that is all-inclusive, with no hidden charges. Our team provides you support till you get your LLP bank account.
How much money do I need to invest upfront in starting the business?
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.
Can NRIs/Foreign Nationals be a Designated Partner in LLP?
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. In fact, the foreign director can also be a majority shareholder in the company
Can I register the LLP at my home address?
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.
Can a Salaried working person also become a Partnership Registration in an LLP?
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.