These days, profuse law graduates are getting into practising. Reason being law is considered as a prominent supporting pillar in protecting our constitution. Also, the role of lawyers is not just confined to the court, work profiles are available related to legal matters.
It is very important that if practising law is on the mind, registration of law firm can be completed in 3 ways i.e. Sole proprietorship, partnership, Limited Liability Partnership. The omphalos of this article is how to register a law firm as a partnership.
Registration of Law Firm
To set up a law firm in India, an individual must be 21 years of age and shall be having a law degree from any University of India or a University in Foreign, recognized by the Bar Council of India. All States have Bar Council. When the individual receives the degree, one can register yourself with any of the State Bar Councils of India.
Registration of Law firm as Partnership
A Partnership is own and run by 2 or more people.
The partnership is generally governed by an agreement that sets into the open a partners’ responsibilities and obligations.
As per the Indian rule, Partnership Firms are administered by the Indian Partnership Act, 1932. It is not compulsory to register your partnership firm as there are no penalties for non-registration.
A partnership firm can be registered subsequently. One can file an application with the Registrar of Firms of the area in which your firm is located.
Filing of the application must include following:
- Name of your firm.
- Name of the place where the firm is situated.
- Date of the partners joining the firm.
- Full name and permanent address of partners.
- Duration of the firm.
Documents to be enclosed along with the application:
- Application for Registration in the prescribed Form – I
- Duly filled Specimen of Affidavit
- Certified copy of the Partnership deed
- Proof of ownership of the place of business or the rental/lease agreement thereof
When the Registrar of Firms is satisfied that the application procedure has been duly complied with, an individual shall record an entry of the statement in the Register of Firms and issue a Certificate of Registration.
There is a Register of firms which is maintained at the office of the registrar that contains complete and up-to-date information about each registered firm. It is open to inspection by any person on payment of the prescribed fees.
If a person is interested in viewing the details of any firm can request the Registrar of Firms for the same and on payment of the prescribed fees, a copy of all details of a firm registered with the Registrar would be given to the applicant.
Centrik has been working in registration and compliance of companies for last 5 years with domain experts to guide you through. In case you have any queries regarding the same, you can reach our experts at firstname.lastname@example.org
Note – Please note that the above article is for education purpose only. This is based on our interpretation of laws which may differ person to person. Readers are expected to verify the facts and laws