Partnership Firm Registration
In Pakistan, a partnership firm is a type of business structure in which two or more individuals carry on business together with a view to making a profit. If you’re starting a partnership firm in Pakistan, one of the first steps you’ll need to take is to register your firm with the Firm Registrar. In this blog, we’ll take a look at the process of registering a partnership firm before the Firm Registrar in Pakistan.
Step 1: Choosing a Name for Your Partnership Firm
The first step in registering a partnership firm is to choose a name for your firm. The name must be unique and should not already be in use by another partnership firm or business entity. You can check the availability of a name by conducting a name search on the Firm Registrar’s website.
Step 2: Preparing the Partnership Deed
The next step is to prepare a partnership deed, which is a written agreement between the partners that outlines the terms and conditions of the partnership. The partnership deed should include details such as the name of the firm, the names and addresses of the partners, the nature of the business, the capital contributions of each partner, and the profit-sharing ratio.
Step 3: Stamp Duty and Notarization of the Partnership Deed
Once the partnership deed is prepared, it must be stamped with the appropriate stamp duty and notarized by a notary public. The stamp duty is calculated based on the value of the capital contribution of the partners.
Step 4: Submission of Documents to the Firm Registrar
After the partnership deed has been stamped and notarized, it must be submitted to the Firm Registrar along with the following documents:
A copy of the partnership deed
A copy of the national identity cards of the partners
A copy of the utility bill of the place of business
Step 5: Payment of Registration Fee and Receipt of Certificate
Once the documents have been submitted, the partnership firm will need to pay the registration fee to the Firm Registrar. After payment of the fee, the Firm Registrar will issue a certificate of registration for the partnership firm.
In conclusion, registering a partnership firm before the Firm Registrar in Pakistan involves choosing a name for your firm, preparing a partnership deed, stamping and notarizing the partnership deed, submitting the documents to the Firm Registrar, and paying the registration fee. It’s important to ensure that you follow the necessary steps and comply with the requirements to obtain the certificate of registration for your partnership firm. Once registered, your partnership firm will be legally recognized and can conduct business in Pakistan.