Partnership form of business is suitable for small sized business in which two or more person decides to start a venture and shares profits and losses of the business. Profit Sharing is very important aspect of Partnership business, in which every partner must share profit of the business and every person who shares the profit of the business must be a partner.
in which every partner must share profit of the business and every person who shares the profit of the business must be a partner.There is no minimum capital requirement to start a partnership business.
Limitation of partnership business is that, personal assets of partners of the firm is exposed to losses and liabilities of the business. So it is advisable to go for partnership form of business where there are fewer chances of losses.
Further, Transparency in case of proprietorship concern is very less, hence big corporate houses do not prefer to do business with partnership businesses.
One should note that, there are some restriction on Partnership as far as Foreign Investment is concerned. So, a careful assessment is required before starting a partnership business with any NRI/ PIO.
Legal team of Expert Advisorz help you form your partnership firm with covenant that best suits to your business and arrangement with your partners. We at Expert Advisorz provide following services to our Partnership client –
1. Digital Signature of Director : – As the application for OPC Registration is filed online with Digital Signatures of the director, hence the process starts with the issue of the digital signature for all the directors/promoters. We at Expert Advisorz have a separate compliance department which looks after issuance of DSC.
2. Director Identification Number :- It is a unique identification number allotted to the director of a company by MCA. No person can hold an office of the director unless he is issued a DIN. DIN is required for incorporation and for all future communication between director and the company as well as Ministry of corporate affairs. Secretarial team of Expert Advisorz help you in allotment of your DIN.
3. Name Approval of Company :- Name of each company must be uniqueand should not be same or in resemblance with any already registered company, LLP or a Trademark. Before incorporating a company, an application is made to the ROC for approval of name. Our Managementand Secretarial team will help you while deciding the name of the company and then final approval of the same.
3. MOA & AOA of Company :- These are charter documents for the Company. The MOA contains the Name, object, state in which company is registered, the maximum amount of capital which it can raise (Authorised Capital)& a declaration that the company is a limited company. Whereas all rules & regulation of the company is incorporated inArticles of Association (AOA). The promoters need to adopt and sign MOA & AOA, which is then filed with the MCA. Legal team of Expert Advisorz help you in drafting your MOA &AOA to make it suitable for your business and in truly reflecting arrangement between company and other stakeholders.
4. Company Incorporation All the steps as described above finally culminates into the registration of the company with the issuance of the certificate of Incorporation. The certificate of incorporation is the conclusive proof of the registration of the company. Pool of professional in Expert Advisorz will help you get your company’s certificate of Incorporation so that you can start your business smoothly.
5. Applying for PAN:- Permanent Account Number (PAN) is must for starting a business in India. It’s a unique 10-digit alpha-numeric no. allotted by Income Tax Department. We at Expert Advisorz help you in applying and getting PAN.
6. Shops & Establishment Registration :- Every shop or commercial establishment is required to get itself registered with the labour department of the state government. The application for registration must be filed within 30 days of starting a business in India. We at Expert Advisorz help your business get this registration.
7. Open a bank Account :- To transact the business, the Directors must open a current account in the name of the Company. However due to complex regulatory requirement it often become a tedious task to open a bank account. We at Expert Advisorz assist our clients in opening their bank account.
8. MSME Registration :- MSME is priority sector for Government of India, Government of India offers various scheme and benefits to MSME’s. Further banks also offers priority loan at low rate of interest to these units. To avail these benefits, one should be registered as MSME unit. We at Expert Advisorz help our client to get registered as MSME Unit and advises them on benefits they can avail out of this scheme.
9. Professional Tax Registration :- Professional Tax is a tax which is levied by some state on the income earned by professionals and salaried employees. Expert Advisorz help you obtain professional tax registration.
10. GST Registration :- GST is a tax on goods and services, every person who supplies any goods or service has to get registered under GST. We at Expert Advisors help you obtain GST Registration.
11. Trademark Registration :- In today’s competitive and dynamic business environment every business spends millions of rupees and number of years in creating a brand Still, some of them fails to get it registered with IPR authority and thus loses the brand. We at Expert Advisorz help our client right from applying trademark registration to final approval of the same.
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