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Partnership Firm Registration Lawyers Service in Karachi

Do you want to get Partnership Firm Registration Lawyers Service for your New Partnership Business Firm From the Registrar of Firms, Karachi?

We provide partnership firm registration services in Karachi within 3 Days. Start your new partnership business in Pakistan with Firm Registration Certificate from Registrar of Firms.If you want to get your partnership firm registered by the Registrar of Firms through specialized lawyers services, then, you’re at the right place. Our corporate and taxation lawyer’s company helps you register your business firm with the Registrar of Firm, Government of Sindh, Karachi, to protect it from infringement. Our experienced lawyers will meet your needs at every step of the process. We have worked with businesses just like yours for over 36 years, so you can count on us!

Let’s get started now! Call us or visit our office in Gulistan-e-Jauhar, Karachi along with the copies of CNICs of all partners and let our expert lawyers and consultants handle the rest! Do you have any other requests? We will draft your partnership deed as per your mutual agreement and specific business needs. Our legal registration services are quick and affordable. Contact us today to get started!

However, it is a good idea to read some information regarding partnership firms before proceeding.

partnership firm registration in karachi

What is a Partnership Firm?

Partnership, as per the Partnership Act 1932, can be defined in the following terms:

“A partnership is a relationship between persons who have agreed to share the profits made by a business they are jointly engaged in or any person acting on their behalf. Partnership businesses are governed by a minimum of two and a maximum of twenty individuals who coordinate their efforts, pay taxes, divide roles, and share losses.” Because it is feasible for an indefinite period, it is the most advantageous. Partnerships at will don’t have to last for a specific period of time and can be dissolved at any time. 

A Partnership firm is a type of business in which two or more persons start a new joint business with shared capital and certain ratio of profit or loss is distributed among them. Entrepreneurs may not have access to a large amount of capital to begin their business. Therefore, it is common and more convenient to join another person. Individuals are not only able to solve the capital availability problem, but also can conduct business more efficiently with the expertise of those individuals.

A business partnership is a relationship between individuals to carry out business activities together. A minimum of two people and a maximum of twenty may be required in Pakistan. Partnership firms are formed by providing money or capital to the business; this does not necessarily have to be equal. Based on the terms of their agreement, these parties are responsible for the business’s debts, and they also share profits and losses.

Individual partners can be regarded as partners of a firm. A partnership firm does not need to be registered by law, but it is advisable to do so. Written agreements specify the profits and losses sharing ratios and the terms and conditions of the partnership. Throughout Pakistan, all partnership rules are governed by the Partnership Act, 1932.

Compulsion of Registration of Partnerships:

It should be noted that Partnership firm registration is not necessary by any law, but it is advisable and better to do so if individuals have agreed to work jointly for long period. A partnership may be registered with the Registrar of Firms in Karachi, or of the area where the office of the firm is located or proposed to be situated. In order to register the business as a partnership firm, a minimum of two persons and the following information is required.

Firm Registration Law in Pakistan - The Partnership Act, 1932

The partnership will last indefinitely:

If the partnership is formed for a definite period of time and the firm continues to function after the expiry period.

If a partnership is formed to conduct a particular venture and continues to function after the accomplishment of the venture.

REQUIREMENTS TO REGISTER A PARTNERSHIP FIRM

Individuals must submit the following details containing documents to the Registrar of an area in which the business or its office is operating:

  1. The name of the partnership firm should not have any restricted words;
  2. The principal place of the partnership business of the firm;
  3. The full names of all the partners of the firm and their permanent addresses;
  4. Copy of the National Identity Cards of each partner of the firm;
  5. Proof of the address of the partnership business, like an electricity bills
  6. A rent agreement/deed is required if the place of the partnership business is rented
  7. An original receipt for the Partnership registration fee was deposited in the National Bank of Pakistan.
  8. The Registrar of the Firm or an authorized officer must witness the signatures of all partners in partnership/firm business.
  9. All the partners of the firm will sign the statement on Form A, before submission. Once you have satisfied the registrar, it means that you have fulfilled all registration requirements. Now, he/she will register the firm’s name in the ‘Register of Firms’ and file the statement and issue the Registration Certificate.
Partnership Firm

LEGAL DOCUMENTS RELATED TO THE PARTNERSHIP FIRM

PARTNERSHIP DEED/AGREEMENT

The partnership deed, or partnership agreement, is a document signed by all partners, which outlines mutual rights, obligations, regulations, and conditions for the management of the partnership.

In a partnership deed, and individuals must incorporate the following details in:

  • Name of the Firm
  • Nature of the Business to Be Conducted
  • Location or Branches of the Business
  • Details of Partners, Including Their Names and Addresses Along With Their CNIC Numbers
  • Work Division and Responsibilities for Management
  • The Firm’s Bank Account Operating Instructions

The duration of the partnership should be stated in the deed/agreement; if there is no duration or determination, it will be called ‘Partnership At Will’

  • The Profit And Loss Sharing Ratios
  • The Maximum Amounts Allowed To Partners for Withdrawal
  • Any Rules Concerning the Admission Of New, And Retirement of Existing Partners
  • Any Dispute Provisions & The Method of Resolution
  • The Method of Dissolution

If the partners do not want their partnership to dissolve or terminate on the death of a partner. It can be mentioned in the deed.

Our Corporate Lawyers will draft for you (on your request) a partnership deed as per your mutually settled terms and conditions.

CERTIFICATE OF REGISTRATION OF PARTNERSHIP FIRM

Partnership Certificate

DEED FOR DISSOLUTION OF PARTNERSHIP

Firms are dissolved by mutual consent when a dissolution deed is executed. Registration of the dissolution deed is required. Liabilities and debts should be listed clearly. According to the dissolution deed, the assets including goodwill are valued and distributed among the partners.

In accordance with your mutually agreed terms and conditions, our Corporate Lawyers will draft a Deed for Dissolution of Partnership for you.

DEED FOR CHANGES IN PARTNERSHIP

The terms and conditions of the firm and its partners can be changed by mutual agreement. Registration of the Deed for Changes in Partnership is required to be registered.

Our Corporate Lawyers can draft a Deed for Changes in Partnership for you, based on mutually agreed terms and conditions. This knowledge will enable you to register a Pakistani partnership business/firm. You can call us and let us know any further information if you require it.

How TAXOCRATE Can Help You ?

Our research and expertise have shown us that people are generally reluctant to deal with civil servants or deal with government institutions. In this case, TAXOCRATE comes in. We have multiple years of experience in the particularities and registration of a business and partnership.

Therefore, we register your business as a partnership with the Registrar. Also, we assist you in formulating the terms of your partnership agreement and advise you on all legal matters relating to the same.

Please call Mr. Zeeshan Inam, Director, Partnership & Corporate Registrations Ph: 0300-3029093 at TAXOCRATE (Pvt) Limited, Karachi, from 10-00 AM to 8-00 PM (PK Time) for the Partnership Firm Registration or for any other relevant information/work regarding Registrar of Partnership Firms, Karachi, Pakistan.

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    Disclaimer: All information is provided on this portal solely for informational purposes. This portal is not affiliated with the Government website. Please note that this disclaimer also applies to our website, and we may refer to it as ‘us’, ‘we’, ‘our’ or ‘website’. The information on the website has been gathered from various government and non-government sources. We disclaim any liability for errors, injuries, losses, or damages arising from the use of this information. We also disclaim any liability for the availability and authenticity of this information. Our services consist of filling out forms, providing legal advice, and assisting our clients. The departmental processing of the registration forms is not our responsibility. You will have to use a service fee for professionally preparing your application, submitting it to the relevant authorities, and coordinating your application process. You will have to pay any Government fees.