Benefits of Partnership Firm Registration
- Ability to file case against Third Parties
- Power to file suit against co-partners
- Ability to claim Set-off
- Higher Credibility
- Conversion of Entity
Get partnership Registration in Coimbatore with Solubilis and enjoy the advantage of partnership Firm. We offer our services over Sulur, Othakalmandapam, Negamam, Pollachi, Udumalpet, and all other areas in Coimbatore. Partnership is one of the most preferred business organizations where two or more people come together to form a business and divide the profits on the basis of an agreed ratio. The entire registration process and the compliance is minimal when compared to other companies. The base step to form a partnership is to create a partnership deed. Partnership Firms in India are regulated by the Indian Partnership Act 1932. For a partnership firm registration, the Maximum number of members in a partnership is 10 for a banking business and 20 for other businesses. The partnership firm cannot be a debtor or creditor and cannot own any properties. In the eyes of law, the property, debit or credit of a partnership firm is actually for the partners. Thus, if any debt occurred it should be shared amongst the partners as mentioned in the partnership deed to avoid confusions in the future.
A partnership firm shall be called as registered partnership firm, wherein the partnership deed is registered with a registrar of firms formed under the State government and complied all and necessary procedural formalities such as filing of return etc. as required under law. The partnership deed will not be registered with a registrar of firms in case of unregistered partnership.
Solubilis is the best service provider; we take 5-7 days to register the private limited company.
Capital is the initial amount in cash or kind contributed by the partners to start the business. It is not necessary for each partner to contribute equally to the capital. Contribution is based on the agreement between the parties.
Partners must be major (above the age of 18), should be sane and should not be disqualified by law from entering into a contract.
A minor admitted to the benefits of partnership, has the option to become a partner within six months of attaining majority. He has to give a public notice stating his acceptance or rejection of partnership. In the absence of a notice, it is considered that he has become a partner of the firm.
A Certificate of Partnership is a legal document filed with the state government to register a limited partnership. These vary by state and each has its own requirements, we recommend that you contact your State Department for more information about your State’s requirements.
If a partnership deed does not provide for duration or for dissolving the partnership in any manner, it is a Partnership at will.
Yes, a partner can transfer his interest in the business to an outsider, but only with the consent of all other partners.
A partnership firm cannot become a partner of another firm because it is not a legal person. However the partners may be partners in another firm in their individual capacity
The Partnership Act does not prohibit a non-citizen from joining an Indian partnership firm, subject to necessary clearances and permissions from satisfactory authorities in this regard.
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