Documents required for Partnership firm Registration

A group of people come together to run, own and make profits out of the business is known as the partnership firm and control every aspect related to that business. Partnership firms are seemed to be prevalent in the area of small and medium-sized businesses in the unorganized sector.

The partnership firms may or may not be registered as it is not mandatory; however, it is always advisable to register the partnership to take the benefits of advantages provided after the registration of partnership firms. There is a process of drafting a partner deed for the partnership firms that include the rules and regulations to be followed by the partners who have come together to start the partnership firm.

If you are looking to start your own partnership firm, however, you are not aware of the process of registration of partnership firm, what are the documents required for the partnership firm registration, what are the benefits that you can avail upon the registration of partnership firm. Then don’t stress yourself at all, you just need to contact swarit advisors where we have a team of professionally trained employees. They will educate, help and guide you to prosper in the future.

Further, we will discuss the documents required for partnership firm registration, the process of a partnership firm registration etc.

The procedure for registration of the Partnership firm

 Name selection

The initial step is to come up with the name for your partnership firm, which should not be infringing on the already existing trademarks. There is a website called IP India online which you can use for the verification of the name. Then you just visit the MCA (Ministry of corporate affairs) web portal to check the availability.

Partnership deed

Partnership deed is formed to specify the rules and regulations to be followed by the partners of the firm. The partnership deed must be laid out on a stamp paper and should be notarized properly.

·         Partnership deed will highlight the following things-

•      Name of partnership firm
•      Address of the partnership firm
•      Nature/description of the Firm
•       The ratio of profits to be shared among the partners
•        Partner details
•        Capital contribution detail

What are the documents required for the partnership firm registration

1.     There are certain documents that need to be submitted to register the partnership firm. Below is the list of documents required for the partnership firm registration
2.      There is a Form 1 available that needs to be filled for the registration application
3.       Then you have to submit the partnership deed on a stamp paper
4.            Specimen of Affidavit
5.        If you own the business property, then you have to submit the documents of property
6.       If you have a rented business place, then you are required to submit the rental agreement as a proof of the business place address
7.     Identity proof and address proof of all the partners involved in the Partnership firm (PAN/ Aadhar card/ Driving license/ copy of voter ID/ passport)

For more information on Partnership firm Registration go here.