One of the simplest ways of registering your business is to register it as a partnership firm. As the name itself explains, you need more than one person to form a partnership firm.
What it needs?
A partnership agreement popularly known as “Partnership Deed” has to be created and executed among the partners detailing the following factors:
– Name of the firm
– Objectives of the business
– How many partners ?
– Names of the partners
– Age, address and father’s name of the partners
– Office address of the firm
– Capital to be invested by each partner
– Profit / Loss sharing ratio
– Managing Partner, if any (who is going to manage the firm)
– Firm commencement date
– Cash withdrawal facility for partners, and if so, is there any limit
– Salary, if any, for the partners, and if so, how much
Registration Process
There are two registration involved: one is the Firm Registration and the other one is the Deed Registration
Time Frame
It takes about ten working days for the registration to get complete.
Cost
Definitely less than the cost incurred for registering a private limited company.
Whom to contact?
Who else ? Contact us at info@cogzidel.in and we will be happy to help you.
