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Partenership Firm Registration

A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract.

Frequently Asked Questions ?

   Is it necessary to register a partnership firm ?

No, it is not necessary to register, a partnership firm can be registered or unregistered.

   What are the benefits of registering a partnership firm ?

There are many benefits like-
1. Power to file case in a court by a partner against the firm or other co-partners
2. Power to file case in a court by firm against 3rd party

   what is the minimum and maximum limit of partners ?

A partnership must have atleast 2 partners. A partnership firm in the Banking business can have upto 10 partners, while those engaged in any other business can have 20 partners.

   What is the need of setting up a Partnership Firm ?

A partnership firm is best for small business that plan to remain small, low cost, ease of setting up & minimal compliance requirement make it a sensible option for such busines.