How To (Partnership) Register Firm in Pakistan

The Partnership Act of 1932 governs the process of registering a company in Pakistan. However, once the firm registration process is completed, you will have certain statutory rights that non-registered firms do not have.

We will clarify how to register a company or partnership in this section. What are the requirements for registering a business? And how much does it cost to register a business in Pakistan?

"It states that it is a relationship between individuals who've already agreed to share profits and losses of a business is carried on by everyone or any of them acting on behalf of all."

The act of the partner is known as partnership, but their business as a whole is known as firm.

Partnerships are commonly feasible where business operations are small and medium-sized. Although there is no mandatory requirement in Pakistan to register a firm or a partnership.

Nonetheless, registering a civil partnership has tax and litigation implications that are beneficial to the business.

The legal requirement to register a firm is also explained in Section 58 of the Partnership Act of 1932. These requirements are as follows:

1. Each partner's full name, father or husband's name, residential address, and occupation are all required.
2. a copy of each partner's national identity card
3. Partnership deed on stamp paper with a face value of Rs 1000 only.
4. A Partnership Deed is a document that contains an agreement outlining each partner's rights and obligations in the venture.
5. Utility bills are commonly used as proof of the address of a partnership business.
6. If the partnership company's address is rented, a lease deed is required.
7. A duplicate of the original receipt for the Partnership fee (Firm registration fee in Pakistan is Rs. 1000). This fee must be deposited at the National Bank of Pakistan using a Challan Form and the account number C-03545 (Click here to download Challan form)
8. In the existence of a registrar or an authorised officer, all partners in a partnershipfirm business must sign.