Registering a partnership in Bangladesh involves several steps to ensure compliance with the Partnership Act, 1932. Here’s a detailed step-by-step guide:

Step 1: Choose a Partnership Name

• The partnership name must not:
  • Resemble or conflict with an existing business name.
  • Contain words that are prohibited under any law.
• Ensure the name aligns with your business activities.

Step 2: Draft a Partnership Deed

The Partnership Deed is a legal document outlining the rights and responsibilities of partners. It typically includes:

1. Name and address of the partnership firm and all partners.
2. Nature of the business to be conducted.
3. Capital contribution by each partner.
4. Profit-sharing ratio among partners.
5. Rules regarding:
   • Admission or retirement of partners.
   • Dissolution of the firm.
   • Decision-making processes.
6. Other terms, such as dispute resolution mechanisms.

Step 3: Obtain Stamp Paper

• The Partnership Deed must be executed on non-judicial stamp paper of a value prescribed under the Stamp Act, 1899 in Bangladesh.
• The value depends on the capital contribution of the partnership.

Step 4: Sign the Partnership Deed

• All partners must sign the deed in the presence of a notary public or a magistrate.

Step 5: Apply for Registration

Registration of a partnership firm is not mandatory but is recommended for legal recognition. To register:

1. Prepare Form I (Application for Registration of a Firm).
2. Submit the following to the Registrar of Joint Stock Companies and Firms (RJSC):
   • Signed Partnership Deed.
   • Filled Form I.
   • Copies of National IDs of all partners.
   • Proof of address for the business premises.
   • Prescribed registration fee.

Step 6: Obtain the Registration Certificate

• Once the RJSC verifies your application and documents, they will issue a Certificate of Registration.
• Keep this certificate for legal and business purposes.

Step 7: Obtain a Trade License

• Apply to the local municipal authority for a Trade License to legally operate the business.
• Required documents:
  • Partnership Deed.
  • Registration Certificate.
  • Address proof of the business.

Step 8: Register for Tax Identification Number (TIN)

• Apply for a Tax Identification Number (TIN) for the partnership.
• Each partner should also have individual TINs.

Step 9: Open a Bank Account

• Open a business bank account in the partnership’s name.
• Provide the bank with:
  • Partnership Deed.
  • Registration Certificate.
  • Trade License.
  • TIN Certificate.

Step 10: Register for VAT (if applicable)

• If your business is VAT-eligible, register with the National Board of Revenue (NBR) for VAT purposes.

Would you like assistance in handling company registration and legal compliance? Call us: Cell & WhatsApp # +880 1971686846, Email: shahmdaman@gmail.com