Q1. Is a partnership firm a legal entity?
Yes, once you register it, the Partnership Act 1932 recognizes it legally.
Q2. How long does registration take?
Usually 3–5 working days, depending on your document readiness. However, incomplete documents may cause delays.
Q3. Can foreigners be partners?
Yes, you can include foreigners with prior BIDA approval and compliance for foreign ownership.
Q4. Is registration mandatory?
No law forces registration, however, it protects your legal rights and enables banking activities.
Q5. Can I convert my partnership into a limited company later?
Yes, you can convert it into a Private Limited Company through RJSC. Indeed, this conversion helps you raise capital and expand your business.