Your Guide to Firm Registration in Delhi: Partnership or LLP?
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Setting up a business in Delhi starts with one crucial step—choosing the right legal structure. Whether you’re a group of entrepreneurs launching a small venture or professionals looking for a secure and scalable model, registering your business is key to operating legally and efficiently. Two of the most commonly chosen structures are Partnership Firms and Limited Liability Partnerships (LLPs). Here’s a simple guide to help you understand the basics of Firm Registration in Delhi . Partnership Firm: Simple and Affordable A Partnership Firm is often the go-to option for small businesses. It involves two or more individuals who agree to share profits and responsibilities. Though registration is not compulsory under Indian law, registering your firm offers legal benefits like the ability to file a case in court or open a current bank account in the firm’s name. To register a partnership firm, you must draft a Partnership Deed —a legal document that outlines the roles, respon...