If you want to start a business with one or more persons where you will be sharing the responsibilities and ownership of the company with one or more than one partners, you can opt for registering your business as a partnership firm. A partnership firm includes businesses which have two or more than two people sharing the responsibilities and ownership of the business and its operations.

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What is a

Partnership Firm?

A business where two or more than two persons own it and share its profits/loss and responsible for its business and operations is called a partnership firm.
Mainly there are two types of partnerships firms.

It's advisable that you register your partnership firm even though it's not compulsory. There are many benefits to registering your company. If you want to create your partnership firm, you will have to create a partnership deed with your partners.



Documents Required to Register a Partnership Firm

Details in Form 1 with the prescribed fees
Ownership proof or rent/lease of the location of your business

e.g. Rent/Lease/Leave and Licence Agreement of Business Placeor Electricity Bill/ Water Bill

Copy of PAN Card of partners
Copy of Aadhaar Card/ Voter identity card

Notarised True copy of the Partnership Deed stating:

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

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