Key Benefits
Why Choose This Structure?
Shared Resources
Partners pool capital, skills, and networks — enabling better business operations.
Flexible Agreement
Partnership Deed defines profit sharing, roles, and exit terms as agreed by all partners.
Lower Compliance
Fewer regulatory requirements compared to companies. No mandatory audit below certain thresholds.
Quick Formation
Can be formed quickly with a Partnership Deed — registration is optional but recommended.
Eligibility
Who Can Register?
- Minimum 2 partners, maximum 50 partners (for non-banking firms)
- All partners must be individuals (not companies)
- No minimum capital requirement
- A Partnership Deed must be executed on stamp paper
- Firm registration under Partnership Act recommended (not mandatory)
- At least one partner should be a resident of India
Process
How It Works
- 1Draft Partnership DeedPrepare Partnership Deed covering profit sharing, duties, capital, and exit clauses.
- 2Stamp & NotariseExecute on appropriate stamp paper and get it notarised.
- 3Register with RegistrarFile application with Registrar of Firms (optional but strongly advised).
- 4PAN & Bank AccountApply for Firm PAN and open a current bank account in the firm's name.
- 5GST & Other RegistrationsObtain GST, MSME/Udyam, and any trade-specific licences as required.