Partnership Firm Registration in Bangalore

Partnership Firm Registration in Bangalore –  A partnership is a legal structure for conducting business that is formed through the execution of a partnership deed. A Deed is essentially an agreement between Partners regarding the entirety of the Partnership’s business. The Indian Partnership Act of 1932 governs the operation of partnerships in India. Contact Today for your Partnership Registration in Bangalore. If you wish to get Partnership Firm Registration in Bangalore, Prakasha & Co. has got an exciting offer for you.

A partnership firm is a business entity in which two or more individuals, known as partners, come together to operate a business to make a profit. The partners share the profits and losses of the business, and each partner is personally liable for the debts and obligations of the business. Partnerships are typically formed to run a small or medium-sized business, such as a retail store, law firm, or consulting business. They are relatively easy to establish and require less formal structure and compliance than corporations or limited liability companies. Partnership Firm Registration in Bangalore can give your business a legal identity and safeguard the mutual interest of all the partners. 

Step-by-Step Procedure for Registering a Partnership Firm in Bangalore

Getting a firm registered in India is a prerequisite for any kind of business activity in the country. This gives you legal credentials as well as the credibility to go about your business. Follow the steps given below to get partnership registration in Bangalore. 

Step 1: Application for Registration

A form must be filled out and sent to the ROFs of the state where the Firm is located, along with the standard fees. On the registration form, the proposed partners should sign their names.

Most of the time, a person who wants to apply can send the application form to the ROFs by registered mail. Check the following list before sending the application to the right person. The checklist has all of the required information that needs to be on the application form.

• Name of the proposed firm
• The main place where business is done if there is an extra unit, is its address.
• The date that each partner joined
• Who the proposed partners are and where do they live
• The year Partnership Firm was founded

Step 2: Choose the Firm’s official name

Consider the following things when coming up with a good name for the proposed Partnership Firm :

• The name shouldn’t cause a problem with anyone else or with the Firm that already exists.
• The name should be unique and stand out.
• The name must follow the current laws, such as the Trademark Act and the Emblem and Name Act, of 1950.

Step 3: Get the Registration Certificate / Partnership Deed

If there are no mistakes in the form and documents that were sent in, the Registrar will give the registration certificate and add the proposed firms to the Register of Firms.

All the information about a registered firm is in the register of firms, which business owners, or partners, can access after paying the standard fees. 

Registration Fees for Partnership Firm in Bangalore 

The total fee for the partnership for registration in Bangalore at Prakasha & Co. is INR 11,999, including the government fee and the professional fee for professional utilities. Refer to the table given below for the breakdown of registration fees for partnership firm registration in Bangalore

You shall note that the final price is determined by the unique specifications and complexities of each client’s situation. Our services are customizable and tailored to cater the requirement of each client. 

Documents required for Partnership Firm Registration in Bangalore

There are several documents required for partnership firm registration in Bangalore. These documents are important to make your registration process legally authentic and genuine. You can also consult our partnership registration consultants to arrange all the documents on time. 

• Partnership Deed: This is a legal document that outlines the terms and conditions of the partnership, including the name of the business, the nature of the business, the contributions of each partner, and the profit and loss sharing ratio.
• PAN card of all the partners
• Address proof of all the partners
• ID proof of all the partners
• GST registration (if the firm is going to do business with a turnover of more than 20 Lakhs)
• Shop and Establishment registration (if the firm is going to operate from a physical location)
• Bank account in the name of the partnership firm with the partners’ signatures as per the bank’s requirement.

Eligibility Criteria for Partnership Firm Registration in Bangalore 

To be eligible to apply for partnership firm registration in Bangalore you shall fall into the eligibility criteria given below. Go through the checklist for partnership firm registration to ensure that you tick-mark all the requirements: 

• Partnership deed or contract agreement 
• Valid ID proof of partners 
• Minimum requirement of 2 partners 
• A valid agreement between the partners

Benefits of Partnership Firm Registration in Bangalore

Most of the start-ups are evolving into partnership firms. Registration of a partnership firm is not compulsory however, it offers a myriad of benefits to business partners. Any organization relies on decision-making. In a partnership, there are no resolutions, so decision-making is faster. In most cases, partners in a partnership firm can conduct any transaction without the other partners’ consent. With partnership registration you can double your resources and your ability to reach customers. It also serves as a model for employees and foster collaboration. 

The registration process can be completed with an unregistered deed of the partnership within 2-4 business days along with simple PAN, GST, and other compliances. The registration process gives legal rights to the partners to sue the firm or sue the other partners in case of any legal dispute or fraud. Some of the other key benefits of partnership firm registration in Bangalore are mentioned as follows: 

• Registration provides legal recognition to the firm and its partners. 
• The ability to sue the firm or other partners
• The capacity to sue third parties
• Ability to convert into an entity
• Firm registration fosters collaboration
• Hep you share the workload or take responsibility for different parts of the business.
• Allows you to double your resources and your ability to reach customers.
• Registered firms can more easily convert into other entities like private companies or LLPs.

Choose Prakasha & Co. for Partnership Firm Registration in Bangalore

When it comes to getting legal authorizations and registering a business with the state, Prakasha & Co. is among the best and most prominent options available. We are cognizant of the fact that one must be completely accurate with all papers and underlying legalities to complete the registration process without incident. We guide our Clients on each step to make the Registration process of a Partnership Firm.  You can also leverage our industry knowledge and expertise to help business navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and probability. 

Our team of experts is well-versed in the entire registration process and offers assistance. You can trust our team to take care of all the aspects of the registration process. The key reasons why you should choose Prakasha & Co. for Partnership Firm Registration in Bangalore are briefed below: 

• Guide you on how to choose the right Partnership Firm name.
• Help in managing & preparing partners’ documents.
• Help with filling out Firm forms.
• Follow all the regulatory guidelines and norms
• One stop corporate solution
• Easy registration process
• Offer Pan India partnership firm registration services
• Free expert assistance to all the clients
• Google verified business
• Best price guarantee for the service

For more information and support you can reach our experts at the contact information given below: 

Name : Prakasha & Co

Address : 188/1, Sahakarnagar, Bangalore-92

Phone : +91-7019 827 351

Email : Prakashaandco@gmail.com

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