You can pick to register a Partnership Firm or Business in Pakistan. The partnership is provisioned and directed under the Partnership Act, 1932. Proprietors of the Partnership Firm or Business are typically alluded to as Partners. AT Least 2 partners are needed to work, oversee, and run the undertakings of a Partnership Firm or Business. A partnership Firm or Business is typically suggested for people who for a particular reason, item and period are burning to set up a business entity. After the reason or article has been accomplished or the period for which the business entity is needed to be set up is dispensed, can ultimately dissolve the same.
Interaction of Partnership Firm Registration in Pakistan needs to execute a Partnership Agreement, wherein agreements of Partnership including among others; term, scope; object; share of partners; mode and time for sharing of profit and so forth is explicitly chalked out. Very much like any other agreement of partners explicitly diminish into composing their rights and duties against the other partners.
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Interaction of Partnership Firm Registration in Pakistan requires an application to be submitted to the District Registrar Firms in whose jurisdiction the Partnership Firm is being set up. The cycle of Partnership Firm Registration needs for the accommodation of the following list of legal documents:
- A non-judicial stamp worth Rs. 1,000/- to be used for Partnership deed executed (name of Partnership Firm and Address must be mentioned along with all rights and obligations of the parties against each other and any third parties) attested by at least 2 witnesses as prescribed under the law.
- Filled form I
- Bank challan of the prescribed Registration fee
- CNIC copies of all partners along with CNIC of all witnesses.
- Copy of all the above documents duly notarized by a notary public.
- Partners may have to physically appear before the Registrar Firms if required by him.
Registrar Firm process the application within 7 days after the application along with foregoing documents for Partnership Firm Registration is filed with Registrar Firms.
At ATSassist our valued clients in the process for Partnership Firm Registration before the Registrar Firms. We understand the concern of our valued clients and draft the partnership agreement to cover all the affairs of the partnership business and to secure the interest of our client in the venture to avoid any stringent disputes in future that may subsequently arise between the partners of the partnership firm. We on the behest and sake of our client negotiate the terms and conditions of the partnership with the other partners.
A list of Documents need to start the process of registration at ATS:
- Proposed name of your firm
- Nature and scope of business
- Full name and CNIC copies of partners
- Full name and CNIC copies of witnesses
- Investment amount by each partner
- Partnership Deed on non-judicial stamp paper worth Rs. 1,000/-
- Office address of the Partnership Firm
Feel free to contact us case if you have any queries or questions regarding the process of how to register a firm in Pakistan or if you are keen to secure your interest in the partnership business.
