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Partnership | Partnership Deed
Partnership Act 1932 | Partnership Firms |
Partnership Firm Registration in Pakistan

Partnership | Partnership Deed | Partnership Act 1932

Types of Partnership, Partnership Firm, Partnership Registration

Partnership registration in Islamabad, Provincial Registrars in the Sindh and Punjab Provinces, Requirements For Partnership Firm Registration in Pakistan

PARTNERSHIP: Detailed info about partnership, partnership Act 1932, types of partnerships, partnership deed, partnership firm, partnership registration in Islamabad, Provincial Registrars in the Sindh and Punjab Provinces, Requirements For Partnership Firm Registration in Pakistan and process of partnership firm registration through a corporate lawyer.

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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.

    Partnership Firm - 5 Requirements For Partnership Firm Registration

    About Starting A Partnership Business Firm Registration and its 5 Requirement

    A Partnership Firm can be registered under Partnership Act, 1932. There are 5 (Five) crucial requirements for the partnership firm registration in Pakistan as under:

    partnership Registration

    What are the 5 Requirements For a Partnership Firm Registration?

    1. Consultation on a new partnership business name and place of partnership business.
    2. Drafting of a Partnership Deed on a Non-Judicial Paper.
    3. Signing the Partnership Deed.
    4. Attaching the certified copies of all the partners.
    5. A statement in the prescribed Form-1 has to be submitted to the Registrar:

    i. The name of the partnership firm.
    ii. The principal place or place of business of the firm.
    iii. Any other places where the company carries its business.
    iv. The date of joining the partnership firm for each partner.
    v. All partner’s full names and their permanent addresses (as per CNIC).
    vi. Partnership Firm’s duration, as mutually agreed by the partners or AT WILL.

    Additional Requirements After Partnership Firm Registration

    • National Tax Number from Federal Board of Revenue.
    • Bank Account in the name of Business.
    • Accounting records of the partnership firm, an organized & maintained profit account and balance sheet.
    • Payment in Advance Income Tax as chosen by the Income Tax Ordinance of 2001.
    • Registration from any other authority if decided under any business law to be followed.

    Process of Firm Registration After Submission

    When all documents are submitted, a partnership firm can be registered with the Registrar of Firms of the city after scrutiny of all documents, especially the partnership deed and the CNICs. The Partners must sign the Deed of Partnership. Furthermore, the person’s signing must verify the statement. After the verification of every document by the Registrar of Firms, the firm’s entry is made in the Register of Firms and a respective certificate of registration of the partnership business will be issued by the Registrar of Firms for the new partnership firm.

    Definition of Partnership Business?

    A Partnership business is defined as, a trade or business established with a distinct business name, to earn profits, by two or more persons, who have agreed to jointly invest their money or expertise or efforts, work for their joint business, and share the earnings of a business. Its type of business contains its own pros and cons; it’s primarily suitable for small-size startups. Two or more people agreed to share the excess of a business carried on by all or any of the partners, for all shareholders, can be named as a partnership business. Various small and medium-sized businesses can utilize it as a general model of operation.

    Is the Registration of a Partnership Firm Compulsory?

    No. There is no mandatory requirement for the partnership firm’s registration in Pakistan. Nevertheless, registering does take towards tax and litigation-related consequences that are beneficial to the business.

    Our Expertise For Partnership Firm Registration

    Taxocrate (Pvt) Limited is a group of expert lawyers with over 37 year of professional experience in partnership firm registration tasks in Karachi. For the last 3 years, our corporate and taxation lawyers and consultants are providing their expert advice and professional services in Islamabad and Rawalpindi as well.

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