Partnership Firm incorporation
Take care of your business, while we take care of the paperwork.
More about Partnership Firm incorporation
Why should you opt for a Partnership firm?
- Gives a formal structure
- Easy to start
- Flexibility in operations
- Low on Compliance
Requirement to Start Partnership Firm
- At least 2 partners
- At least 1 of the partners must be a Resident in India
- Partnership Deed
Process Flow
Timeline 10-15 working days- Raise a request with us, discussion with Wazzeer team, share basic information
- Review proposal and hire
- Share details and documents
- Drafting and execution of the partnership deed
- Register the deed, in case of registered partnership and get certificate of registration
- Apply for PAN and TAN
Required Documents
- PAN copy of all Indian partners of the Company
- For Indian partners:
If the document is in any other language apart from English it should be translated by the registered Translator.
- For Indian partners:
- Address Proof copy of all the partners of the Company
- For Indian partners:
Any of Adhaar copy, Driving license copy, Passport copy, Bank statement, rental agreement -
For foreign partners:
Any Valid Address proof issued by the home country's Govt., like Driving License, ID card etc.
This document should be Notarised and apostilled/ Legalised
If the document is in any other language apart from English it should be translated by the registered Translator
- For Indian partners:
- Proof of Address of Place of Business (Any of Rent Agreement, Absolute Sale deed supported with any of the utility bills like electricity bill or gas bill)
- No objection certificate from the landlord for the registered office
Key Deliverables
- Partnership Deed
- Certificate of registration for registered partnerships
- PAN Acknowledgement
- TAN Acknowledgement
Why choose Wazzeer?
-
Qualified CA or CS
Expert in Company incorporation; with 5+ Yrs experience,
100+ Companies Incorporated. Wazzeer takes sector approach towards incorporation -
Dedicated Account Manager
Your one point contact for all legal,
accounting and compliance matters during registration and beyond
-
Hassle Free Delivery
Set SOP; Glitch free project delivery in 7-10 days
-
Cost Effective
Best in industry price; Pay what you see; No Hidden charges
Frequently Asked Questions
What is the difference between registered partnership firm and unregistered partnership firm?
- The firm is not liable to be sued by persons outside it, and can plead a set-off.
- Partners can enforce their rights as per the Partnership Deed
- Partners can file suits against the firm or other partners
- Legal bearing on criminal cases
- The firm can file case against third parties
What are the necessary elements that are required to form a partnership?
- There must be an agreement between two or more persons.
- The agreement must be to share the profits of the business.
- All partners together, or anyone, on behalf of the others must carry on the business.
Who can be partners?
I am not a citizen of India. Can I be a partner in an Indian firm?
However, it is mandatory for at least one partner to a be resident in India.
The term 'resident in India' means a person (Indian or not) who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one financial year.
What is the capital of a partnership firm?
Is a deed of partnership necessary?
Can a minor admitted to the benefits of partnership, become a partner on attaining majority?
I am a partner in a firm. What are my rights ?
- To take part in the business
- To share the profit or loss of the business
- To inspect and make copies of the books of the firm.
- To receive remuneration for taking part in the business if specified in the partnership deed
- To receive interest on capital if specified in the partnership deed.
What are my duties as a partner in a firm?
- Carry on the business.
- Be just and faithful to each partner
- Disclose true accounts of the firm
- Furnish full information of all things affecting the firm.