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.
What is Partnership Deed?
Partnership Deed is an agreement between the partners of the firm. In this deed, the rights, duties, profits shares, and other obligations of each partner are mentioned. It can be in any Written, oral statement. It is a best practice to maintain a deed to avoid any conflicts in the future.
Is It Necessary to register a Partnership Firm in Coimbatore?
There is no necessary to register a partnership firm under the Indian Partnership Act, 1932. A firm can register at any time- before starting a business or anytime during the continuation of the partnership. It is advisable to register the firm since registered firms enjoy special rights which aren’t available to the unregistered firms.
How much time does it take to register a Partnership firm?
Partnership Firm Registration in Coimbatore can take up to 12 to 14 working days. However, the time takes to generate an incorporation certificate may vary as per the concerned state's rules and regulations. The registration of Partnership Firm is subject to Government processing time which varies for each State.
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