Partnership Firm Registration in Pakistan

You can choose to register a Partnership Firm or Business in Pakistan. Partnership is a business arrangement regulated under the Partnership Act, 1932. The owners of the Partnership Firm or Business are called Partners. At least 2 partners are needed to manage and run the business operations. Partnership Firm or Business is often recommended for people who want to establish an entity for a specific purpose, object and period.

After the goals or objectives of the partnership have been met or the period of time for which the partnership was formed has ended, the partnership can be dissolved.

To register a partnership firm, a Partnership Agreement must be executed, which outlines the terms and conditions of the partnership, including but not limited to: the term, scope, object, shares of each partner, method and time for sharing profits, etc. As with any other agreement, the partners must expressly agree in writing to their rights and obligations to each other.

The process of registering a partnership firm requires the submission of an application to the district registrar of firms in whose jurisdiction the partnership firm is being established. The following documents are required for the registration process:

A partnership deed executed on non-judicial stamp paper worth Rs. 1,000/-, attested by at least 2 witnesses as prescribed under law. The partnership deed must mention the name and address of the partnership firm, as well as the rights and obligations of the parties against each other and any third parties.

In order to register your partnership firm, you will need to submit the following documents to the Registrar of Firms:

- A completed application form

- A bank challan for the prescribed registration fee

- Copies of the CNICs of all partners and witnesses, notarized by a notary public

- Partners may have to appear before the Registrar of Firms in person if required

The Registrar of Firms will process your application within 7 days after receiving all the required documents.

At Burhan & Associates, we help our clients with the process of registering their partnership firms with the Registrar of Firms. We understand our clients' concerns and draft partnership agreements that cover all aspects of the partnership business and protect our clients' interests in the venture. This helps avoid any disputes that may arise between the partners in the future. On behalf of our clients, we negotiate the terms and conditions of the partnership with the other partners. To register your partnership firm, we will need the following documents from you:

-Your proposed firm name

-The nature and scope of your business

-CNIC copies of all partners and witnesses

-The investment amount by each partner

-A Partnership Deed on non-judicial stamp paper worth Rs. 1,000/-

-The office address of the Partnership Firm

If you have any queries or questions about the registration process, or if you would like to secure your interest in the partnership business, please do not hesitate to contact us.