How to Register a Partnership Firm in Kerala?
In India, “Partnership Firm” as a business structure is the second most chosen after Sole Proprietorship. Also, it shall be considerate to note that in comparison to LLP, Partnership Firms are more to register, as there is no need to obtain DIN and DSC. Further, to register a Partnership Firm in Kerala, an applicant requires to complete the process on EGROOPS portal.
In this blog, we will discuss the concept and procedure to Register a Partnership Firm in Kerala.
Concept of Partnership Firm
Partnership Firm Registration is a business format requires a minimum of 2 people for its incorporation. These people need to be those who mutually agree to run business operations. Further, these people are collectively known as Partnership Firm and individually termed as Partners.
Moreover, this business structure is governed and administered by the provisions of the Indian Partnership Act 1932 and is based on the idea of Mutual Agency.
Concept of Partnership Firm Deed
“Partnership Firm Deed” means a written legal document that is drafted on a judicial stamp paper and is duly signed by two or more parties involved, who are ready to carry out business activities jointly.
Further, this legal document comprises of the clauses as follows:
- Terms and Conditions;
- Profit-Sharing Ratios;
- Capital Contribution;
- Types of Partners;
- Nature of Working and Operations of the Firm;
- Nature of the Firm;
- Liquidation or Dissolution of the firm;
- Roles and Responsibilities of partners, etc.
Also, the main aim behind the drafting of a partnership deed is to make sure that all the business operations are running smoothly and hassle-free.
Concept of EGOOPS
The term “EGROOPS” stands for the Electronic Governance for Registration of Partnership Firms and Societies. It is the official portal for obtaining online registration of Partnership Firm and Societies in Kerala.
Further, the main aim behind the launch of this online platform was to provide an effective and easy process to register a Partnership Firm in Kerala.
Services Offered by EGOOPS
The services that a user can avail on EGOOPS are as follows:
- New Partnership Firm Registration
- New Society Registration
- Firm Registration Status
- Society Registration Status
- Change of Partners
- Change of Partnership Firm Address
- Change of Society Address
Information Required to Register a Partnership Firm in Kerala
The basic information and details required to register a Partnership Firm in Kerala are as follows:
- Name of the Partnership Firm;
- Duration of the Partnership Firm;
- Principal Place of business for the Firm;
- Name and address of any other place being used to carry out business operations;
- Name and permanent addresses of all the partners; and
- Date of Joining for each partner;
Documents Required to Register a Partnership Firm in Kerala
The documents required to register a Partnership Firm in Kerala are as follows:
- A certified copy of the Partnership Deed format;
- A Covering Letter along with Rs 3 Court Fee Stamp;
- Latest Photograph of all the Partners;
- Aadhar Card for all the Partners;
Things to Remember Before Obtaining Registration on EGOOPS
Before obtaining online Partnership Firm registration through EGROOPS, it is always suggested that the applicant should verify the proposed firm name. The reason for verification is to check whether any existing firm has a similar or identical name or not.
Further, to check the name availability, partners can undergo either of the following methods:
- Company Name Availability Check
- Trademark Search
Process to Register a Partnership Firm in Kerala
The steps included in the process to register a Partnership Firm in Kerala are as follows:
Visit the Official Website
In the first step, the applicant needs to visit the official website of EGOOPS
Click on New Registration
Now, in the next step, the applicant requires to click on the option “New firm registration”, located at the right side of the webpage.
Fill up the User Registration Form
After choosing the New Firm Registration, the applicant will be redirected to a new page, wherein, he/she requires to fill up the details, such as follows:
- Father’s Name
- Date of Birth
- House Name
- Post Office
- Pin Code
- Mobile No
- Contact Number
- Latest Passport-sized photograph
- Id Proof
Further, after entering all the details asked, the applicant will require to select the option to submit to end the form.
Thereafter the applicant will receive a username and password on the registered email address and mobile number for future reference.
Visit the Official Website Again
Now, the applicant needs to again visit the homepage and requires to enter the login credentials provided.
Application for Partnership Firm Registration
After logging in, the applicant will we redirected to an online application form for obtaining registration of a partnership firm.
Name and Address of Partnership Firm
Now, the applicant requires to provide the proposed name and address of the Partnership Firm.
Upload Supporting Documents
Here in this step, the applicant requires to provide the details of all the partners and upload the supporting documents as well. Further, the different types of partners accepted by EGROOPS are as follows:
- Normal Partner
- Power of Attorney Holder
- Minor Partner
Moreover, based on the types of partners, the applicant requires to furnish the details. For example, for a normal and minor partner, the details required to be furnished are as follows:
- Guardian Details
- Mobile Number
However, in the case of a company, one of the directors will be elected as its representative to handle all the legal matters. Further, all the details of the said representative will be filled in the form, together with the required documents.
If in the case there are more than one representatives, the applicant can add the same by clicking on the option “add more partners”.
Add Business Place
After adding all the partners, fill in the details of other branches of the firm as well (if in case any) by selecting the option “Add Business Place”.
Pay Online Registration Charges
After the successful uploading of partner and place of business details, together with the requisite documents, the applicant requires to pay the fee for registration. Further, the different modes of making payment are as follows:
- Money Order
- Cash Payment
The applicant requires to select the mode of payment appropriate to him/ her to initiate the payment process.
Confirmation Message and Reference Number
After making the fee payment, the applicant will then receive a confirmation message, together with the reference number for future use on his/her registered mobile number and email address.
Attestation of Application for Registration
It shall be significant to state that there is a need for the applicant to complete the process of attestation with the registered attestation officer, such as Gazette Officer/ Attorney/ Advocate/ Vakil/ Honorary Magistrate/ Income Tax Officer/ or Chartered Accountant.
In case the application gets rejected, the same will still be available in the EGROOPS account. The applicant can view the rejected application by logging in to his/her account and can resubmit the same by rectifying the defect.
Lastly, when the process of registration is successful and complete, the applicant can print the acknowledgement by choosing the option “Print Acknowledgement”.
In a nutshell, if a person or an applicant wants to register a Partnership Firm in Kerala, then, in that case, he/she requires to visit the official EGROOPS website. Also, after uploading the documents and completing the process of registration, the applicant then requires to get the documents attested with the registered attestation officer.
Thus, we can rightly say that the process to register a partnership firm in Kerala is an intricate, tiring, and back-breaking task, also the same needs professional assistance as well.
At Swarit Advisors, our professionals will assist you with the process to register a partnership firm in Kerala.