What Process For Partnership Registration in Chennai?


What Process For Partnership Registration in Chennai?

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A partnership firm is a form of business organization between two or more persons (maximum 20) who join together to share profits and losses of the business on a mutually agreed ratio. In order to start a partnership business, it is necessary for the partners to sign a legal document called "Partnership Deed." This agreement also contains other details about the partnership such as profit/loss sharing ratio, conditions for admission of new partners, etc.

After verifying the documents, the registrar will enter the name of the partnership firm in the register and issue a certificate of registration to the partnership. The partnership firm is now a registered business entity and can open bank accounts, apply for licenses and permits, and enjoy other benefits that come with the status of being a registered firm.

In case you are looking for a more structured way to run your business, you may want to consider incorporating a Limited Liability Partnership (LLP). The LLP offers the flexibility of a partnership firm but with the added benefit of being treated like a corporate entity for tax purposes. Our experts can help you register your Partnership in Chennai and also provide post-registration compliance services.

To start the process of registering your Partnership, you will need to obtain a Digital Signature Certificate for each of the designated partners and submit them along with other documents as required by the MCA. Once the documents are submitted, you can reserve a unique name for your Partnership through the MCA portal. The reserved name will be valid for 90 days.

 

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