Partnership Firms is one of the oldest and was one of the Businessmen’s most common business structures used to start a business. Practically very few businessmen form Partnership Firms these days after the implementation of the LLP structure.
-Family Owned Businesses.
-Entrepreneurs who DO NOT have a problem with having unlimited liability of their Business and NOT having a separate legal entity.
-Entrepreneurs who DO NOT wish to raise Venture Capital, Seed or Angel Funding.
3 working days from the day we receive all the documents required.
Click here to Download the List of Documents required for Formation of your Partnership Firm. A list of Documents will also be emailed to you once you book this service. Basic documents like PAN Card, Address Proofs, Electricity Bills etc. are required to form your Partnership Firm.
Rs 4,999/- (This cost includes a Partnership Deed, PAN and TAN. This does NOT include the Stamp Duty on the Partnership Agreement/Deed)
The Stamp duty on the Partnership Agreement/Deed is NOT included in the Cost mentioned above. The stamp duty depends on the State where the Registered Office of the Partnership Firm is situated and the Capital of the Partnership Firm. Generally, it comes around Rs 500-1000.
No. You can start your Partnership Firm from a Residential Address as well.
A Partnership Firm can even be started with Re 1/- capital. There is NO minimum capital which is required to start a Partnership Firm.
- Q : Is the Partnership Firm set up procedure completely online? If no, do I have to go to any government department to start my Partnership Firm?
The Partnership Firm formation procedure is completely online. You just need to buy stamp papers from a nearby Court, email and courier your documents we require and we will form your Partnership Firm.
Unlimited Liability means that if your Partnership Firm incurs a business loss, your contribution to that loss will be unlimited. For example, if your Partnership Firm makes a Loss of Rs 1,00,000/- and the Partnership Firm doesn’t have enough assets to pay off the loss. In that case, the partners will have to contribute money from their Personal Assets. Thus, LLP or Private Limited is preferred over a Partnership Firm as they both have limited liability.
Yes. You can define each partner’s authority. You can clearly define what decisions need to be taken only in a partners meeting and you can also define the partner’s rights and duties. All this can be done through the Partnership Firm agreement and we will help you customize the Partnership Firm agreement as per your need.