Lecture 17

Registration of Partnership Business:
Partnership firm can be registered by sending an application in Form No. 1. Along with the form, requisite fee and a true copy of the partnership deed also needs to be sent to the Registrar. Such an application needs to be filed with the Registrar of Firms of the area in which business is located.
Steps of Partnership Registration in Bangladesh:
A partnership firm can be registered at the time of creation or even subsequently. An application should file to the RJSC where following information should include:
• Take Name Clearance Certificate of the Partnership Firm
• Date of Establishment of the Partnership Firm
• Duration of the Partnership Firm
• Principal place of business with full Address
• Joining Date of Partners
• Particulars of Partners
• Particulars of Business
• Application must be submitted on the prescribed Form- I

Benefits of Partnership Business:
For the nature of business start-up capital fund by the partners, so the more partners, more capital they can invest into their business, which will permit more flexibility and more potential for progress.
A partnership firm is usually easier to register, run and manage. For partnership firms Rules and Regulations are not strictly regulated than companies. As long as all the partners can agree, they run their business as they like.
Every partner brings new ideas and skills to a business. It is easier to make a decision for solving a problem because of more brains to think about it. Every partner can share their duties and responsibilities for the business.

After completing Partnership Registration in Bangladesh to start operation your business you should get the following documents:
• Trade License
• TIN Certificate for your newly Registered Partnership Firm.
• Bank Account
• VAT Registration Certificate
• Import Registration Certificate (In case of Import Business)
Export Registration Certificate (In case of Export Business)