In a partnership firm, two or more people come together to start a business and distribute the earnings equitably. Compared to companies, a partnership firm is simpler to register and requires less compliances.

The Indian Partnership Act, 1932 governs and regulates partnership firms in India.Partners are the people who come together to form a partnership firm.

A Partnership Firm’s Registration Process

Step 1: Submit a registration application

The Registrar of Firms in the State where the company is located must receive an application form and the required fees. All partners or their representatives must sign and verify the registration application.

The following information is included in the application, which can be delivered physically or transmitted by mail to the Registrar of Firms:

• The firm name.

• The exact location of the firm’s headquarters

• The location of any further locations where the firm conducts business.

• Date when each partner first joined the firm.

• Each partner’s complete name and addresses.

• The firm’s tenure

Step 2: Choosing the Name of the Partnership Firm

A partnership firm can go by any name. However, certain requirements must be met when choosing the name:

The name shouldn’t be too similar to or identical to one of the existing businesses in the same industry.

The name shouldn’t contain any words like “emperor,” “crown,” “empress,” “empire,” or any other word that suggests government endorsement or support.

Step 3: Registration Certificate

The firm will be registered in the Register of Firms and given the Registration Certificate if the Registrar is satisfied with the registration application and supporting documentation. All firms’ most recent information is available in the Register of Firms, which anybody can access by paying a certain amount.

The Registrar of Firms of the State where the company is located must receive an application form and fees. All partners, or representatives of each partner, must sign the application.

For Registration of Partnership Firm Documents Required 

For the registration of a partnership firm, the following documents must be submitted to the registrar:

• Submitting a partnership registration application (Form 1)

• Original partnership deed certified copy.

• A sample of an affidavit attesting for the authenticity of all the information in the partnership deed and other related documents.

• PAN card and addresses of Partners.

• Evidence showing the firms main location of operation, such as ownership documents or a rental or lease agreement.

• The registrar will register the company in the Register of Firms and issue a Certificate of Registration if he is satisfied with the paperwork.

Upon payment of specific fees, anyone can access the Register of Firms, which provides the most recent information on every firm.