If you are looking to set up and open a law firm in India, then speak to our experienced consultants who are on hand to help you every step of the way. With our partners, we can help you set up a law firm wherever you are based.
Small start-up practices are on the rise, with lawyers setting up law firms across the country who are attracted to the benefits of being self-employed and the potential to profit directly from their own hard work, instead of working to demanding targets and lining other business owner’s pockets.
All this sounds very desirable however, setting up and running a successful law firm is no easy feat. Here at Marketing Lawyers, we are experienced in advising established law firms and supporting them to achieve their objectives. Taking all the experience and knowledge you can at the start and throughout your business journey will help you avoid pitfalls and find the best plan of action quickly.
Our team of consultants include experienced, chairmen, board members and owners of law firms. Their experience is useful for all aspects of setting up a firm in the quickest and most efficient way.
Free Initial Discussion And Quote
For a free initial discussion and for a no-obligation quote, please call us on 0330 133 8783 or email [email protected].
Eligibility Requirements For Opening A Law Firm In India
- A person shall be at least 21 years old,
- The person shall hold a law degree from any University provided that it is recognised by Bar Council of India and;
- A person should be registered with any state Bar Council of India.
Factors To Consider Before Establishing A Law Firm In India
- The number of lawyers you want to work with; their roles; liability, financing; management; taxes; record keeping; specialisation.
- Funding will need to be secured from loans or savings for the law firm set up costs and to survive the initial months of trading.
- As the proprietor, you may want to consider trademark registration of the firm in order to protect the name.
- Law Firms do not require registration if the lawyers have already been recognised by the Bar Council of India. However, depending upon the profits, there will be certain compliances which the firm will be required to follow.
Procedures For Registration Of A Law Firm Ln India
Before you embark on setting up a law firm, it is important to decide on the type of structure and registration that is best for you and your individual circumstances. The main requirement to register a law firm is that all the members should be registered as a practising advocate with the State Bar Council.
There Are Mainly 3 Types Of Legal Structures In India:
- Sole Proprietorship
- Partnership
- Limited Liability Partnership
A Sole Proprietorship is not advisable in the Indian legal market because the BCI usually has certain barriers for such Legal Firms. It is advised to go for an LLP (Limited Liability Partnership) which has greater flexibility and you can control things as you wish.
The sole proprietorship is one of the simplest business forms in which one can operate a business. This is not a legal entity. The sole proprietorship simply mentions a person who owns a business and is personally responsible for its own debts. There is no formal procedure for registering a sole proprietorship Law Firm in India.
You can also start a law firm as a Partnership. Partnership firms in India are directed through the Indian Partnership Act 1932. It is not necessary to register a partnership firm because there are no penalties for not registering.
A limited liability partnership (LLP) is a partnership where some or all partners have limited liabilities. The firm exhibits elements of partnerships as well as a corporation. In an LLP each of the partners is not liable for other partner’s misconduct or negligence. In order to register an LLP first, you need to apply for Designated Partner Identification Number (DPIN) and later you need to obtain a Digital Signature Certificate (DSC).
Once you have applied for the DSC, they will then ask for a unique name for the LLP Firm, this will then be used to file for incorporation with the Ministry of Corporate Affairs MCA. At the end of this process, the Certificate of Incorporation would be approved. Thereafter, it is necessary to have the LLP name approved by the Ministry of Corporate. Every LLP also requires a registered Tax Account Number (TAN) and Permanent Account Number (PAN).
Registration is not always necessary but registering a law firm generates certain rights on the firm as well as on its partners.
Each legal structure has different pros and cons and procedures for registration. It is essential to consider these important factors while choosing the right legal structure for your Firm. Management, finances, tax and other liabilities can also vary depending upon the kind of ownership structure you choose for your firm. Contact us today for more advice and to see how we can help.
India Bar Council – Recent Rule Changes
The Bar Council of India now permits foreign lawyers and law firms to practice in India.
The notification makes it clear that foreign lawyers and law firms can practise transactional, corporate work such as JVs, M&As, IP matters, contract drafting on reciprocal basis. The BCI says this will help address concerns over FDI inflow and make India a hub of international commercial arbitration.
For more information or advice contact us today.
Conclusion
While registration is not mandatory, registering a firm generates certain rights on the firm and on its partners, which a non-registered firm does not have.
Each structure has a different procedure for registration and essential factors need to be taken into consideration while choosing the Legal structure of a Firm.
In today’s competitive environment, it’s a challenge for even the most qualified lawyers to maintain and grow a successful law practice. If you are looking to start your own practice or grow your existing practice, then Marketing Lawyers can help you through the whole process step by step.
Setup And Support
It can seem overwhelming when considering all the different requirements needed when starting the process of setting up your law firm. You should be considering some of the following areas from the outset:
- Agreeing on management and compliance responsibilities
- Establishing a dialogue with the regulators
- Writing a business plan
- Identify competition and market gaps
- Speaking to the bank about your business plan
- Allocating a third of your time to management and compliance
- Checking if ‘loyal’ clients will actually instruct the new firm
- Identifying a network for legal work you cannot complete
- Planning to launch the firm and website
- Having an exit plan
It is advised by many to use consultants to cover the areas of skills that you may not have, so you have the highest chance of business success. It’s often daunting trying to find out all the information you need to set up your firm. We save you time and money by taking the worry off your hands.
Build A Law Firm Website
Although marketing law firm services in India is not allowed, a simple website with expertly crafted informative blogs is allowed.
Once the company is set up you can create an attractive website which will have an immediate short-term benefit because it can help you build instant credibility. Chances are that even if you are being referred to a client, that person will want to do their own diligence on you. Having a website that emphasises your experience and practice strengths gives a potential client a degree of comfort that would otherwise be difficult to replicate with a word of mouth referral alone.
We are experts at building bespoke and well-designed websites and can get your site up and running in a matter of days,
In order to explain yourself and the services you offer, you will also need tailored content that engages your prospects. It may seem like a lot of hard work getting the content written, however, we can help with our tailored copywriting service.
How We Can Help
You are becoming a legal entrepreneur, which means there are a lot of non-legal tasks you’ll need to do to run the firm, some of the areas you can outsource and we work with a network of suppliers. This means you can focus on fee-earning and driving the business forward whilst the admin and regulatory tasks are taken care of.
We can help you create a viable business plan that is vital for developing the new firm for the longer term. It should be based on there being a sustainable and growing market for your services in which you are confident that you can enter in your area of work.
We provide management and setup advice to a host of small, medium and large law firms across the world, Therefore, you’ll benefit from our market knowledge and best practice recommendations. We also have IT consultants who work with law firms who can advise on the best set up and systems.
Start Your Set Up Today
If you’d like to start the ball rolling on the steps to starting your law firm, call or email us today. We can discuss the next steps and outline the costs involved in setting up. Don’t worry, all your information will be kept strictly confidential.
Setting up and running a law firm can be challenging, yet extremely rewarding for those who are determined and seek the right advice and support.
We can assist with a wide range of services which include but are not limited to:
- Authorisation Documentation
- Business Plans
- Financial Forecasts
- IT support including cloud-based solutions and CRM
- Liaising with Suppliers
- Office manuals
- Support your application to the appropriate offices and regulators
- Website setup
Time is often limited when you are thinking of setting up, speak to our consultants about our affordable setup and support packages. We understand that initially, it can be quite confusing and complex which is why we are here to take the worry off your hands. We may refer you to consultants or other firms for specific pieces of work due to their niche expertise. All the work we will do will be agreed upon from the start as you may require help with only certain tasks.
How To Get In Contact
As specialists in the legal industry, we can assist you wherever you are based. To learn more about how we can help you, then contact us today for a free initial discussion, please call us on 0330 133 8783 or email [email protected].
