Complete Procedure about How to register a Firm at Registrar of Firm Office:
A partnership of two or more than two-person to carry out a business.
 |
| How to Register a firm |
Requirements:
Form-1
Bank deposit slip
Partners details
Business Address
Business Letter Head
Copies of National Identity Cards
Utility Bill
Office ownership document or rent deed
Partnership Deed etc, are the basic documents requires to register the partnership firm.
Partnership Deed:
A Partnership deed is the document was written between the parties, who agreed to perform/do a business jointly
under the existing laws.
In partnership deed all details
of business and liabilities are describes in details and business is registered
under the provisions
of the partnership Act, 1932.
It contains all the details
like party’s particulars, office address, share, capital, nature of the
business, accounts, solution of the dispute, duration of business, etc.
Registration: partnership is registered in the office of
the registrar firms, whose office is present in every district after completing all relevant
detailed procedure.
Form-C:
The document that issued
by the registrar, firms is called “form c” as proof of registration.
Registration in FBR:
Every partner of the
firm get registered with the FBR and Business itself registered as a legal person
including business NTN
Bank Certificate: A firm maintains its account in a bank.
Chamber of commerce: A chamber of commerce is a business forum where business owners get registered, although registration of chamber of commerce is not mandatory but it plays a key role to discuss, solve the problems of the business. It provides a lot of opportunities to the business about the new ideas, for this purpose different workshops regularly conducted under the chamber of commerce at different occasion.
PARTNERSHIP DEED
THIS DEED OF PARTNERSHIP is made and executed on this 8th day of February, 2021 in Lahore by and between:
1. --------------- S/o ---------------, A resident of ---------------, present residing at Office No. ---------------.
2. --------------- S/o ….., Resident of Street No. ---------------, District Faisalabad, present residing at Office No. ---------------
WHEREAS both the parties to this deed, with mutual consent and understanding, have agreed to constitute a partnership firm to carry on partnership business on certain terms & conditions which the parties wish to reduce in writing in the following manner:
1. NAME
That the name and style of the partnership shall be “Friends Law Firm”.
2. PLACE
That the business
of firm shall be carried on, in
3. BUSINESS
That business of the partnership firm shall be providing legal services to its clients etc
4. SHARES
That the
profit/loss arising out of the business shall be divided amongst the partners
in the following ratio:-
Advocate
Imran Ali Satti 50%
Muhammad
Bilal Satti 50%
Total 100%
5. MANAGEMENT
That --------------- shall be the Managing Partner of the partnership firm, who shall be authorized to carry on and promote the business of the firm with all powers and authorities conferred to him by the other partner.
6. ACCOUNTS
That the proper and regular accounts of the affairs and transactions of the partnership shall be maintained and kept at the principal place of the business of the partnership. The annual Balance sheet and profit/loss account shall be prepared under the supervision of both partners.
7. BANK
ACCOUNT
That bank account or accounts of the Firm shall be opened in the name of the Firm and shall be operated by Managing Partner, however in the absence of Managing Partner the another partner is authorized to operate the account on the basis of either or survivor.
8. NOTICE
That the partnership may be dissolved by either party upon serving Notice not less than 4
months prior notice in writing and after the settlement of accounts, the firm would
stand dissolved or the shares of the said partner shall be transferred to any
of the above-interested party at his own cost.
9. GOODWILL
At the time of termination of the partnership or at the retirement of a partner, the goodwill of the firm shall be valued by mutual consent failing which the matter shall be referred to the umpire appointed by the partners with their mutual consent, whose decision would be final.
10. INSPECTION
The partners shall have free excess over the Firm’s accounts, documents, and records at reasonable times.
11. TAX
That firm and each partner shall bear their own liabilities of tax.
12. REGISTRATION
That the firm will be registered with Registrar of Firms in due course of time.
13. ARBITRATION
That in case of any a dispute amongst the partners in respect of the conduct of the business of the partnership or in respect of interpretation, operation, or enforcement of any of the terms or conditions of this deed or in respect of any other matter, cause or thing, whatsoever not herein otherwise provided for the same shall be referred to the umpire appointed with the mutual consent of both the partners, whose decision would be final.
14. GENERAL
That no partner shall carry on alike business affecting the business of the firm without the consent in writing of the other partner in respect thereof. All other provisions of the partnership Act, 1932 applicable to the firms, not contained herein shall also apply except those written in the deed. Any change, if needed, (for example enhancement of the partners, ejectment of the partners etc.) in the constitution of the firm shall be made as a mutual agreement amongst the partners.That this partnership firm shall be deemed to have taken effect from the 8th day of February 2021.
16. TERMS
That the partnership is “AT WILL”, however, both the partners are mutually agreed that in the event of the death of any partner the firm shall not be dissolved and shall continue the business with mutual consent of the legal heirs of the partner.
IN WITNESS WHEREOF, the parties set their respective hands on this deed of partnership this 8th day of February 2021, in the presence of the witnesses named below.
|
WITNESSES: 1 |
__________________________ CNIC # |
|
2. |
__________________________ CNIC # |
0 Comments