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Formation of Partnership Firm:

Two or more persons may form a Partnership Firm.

Key feature

Ø  The financial liabilities of partners are unlimited.                                                            

Ø  The partners cannot draw a salary from his own business.                           

Ø  Comparatively less legal compliances as compared to Limited Liability Company.

 

List of requirements 

·        A suitable name of the firm

·        Copy of CNIC/NICOP/Passport/POC of the partners

·        Cell registered in name of the partners

·        Email of the partners

 

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