Who is it for?
Partnership: collaboration based on trust
Are you looking to work with one or more partners without setting up a complex company structure? Then a partnership is a simple, flexible and efficient solution. This company form is a popular favourite among members of the liberal professions.
What is a partnership?
A partnership is without legal personality, established by at least two persons who contribute something — money, labour or goods — with the aim of generating profit together. No notarial deed is required and there is no obligation to provide minimum capital.
As a partnership doesn’t have legal personality, the partners have personal and unlimited liability. However, there are also variants, such as the silent partnership or the de facto partnership, depending on how you wish to structure the partnership.
Why opt for a partnership?
A partnership is easy to set up and particularly suited to collaborations based on trust, equality and shared expertise. It offers a high degree of autonomy without a lot of administrative requirements.
Benefits of a partnership:
- Modest set-up costs, no notarial deed required
- No minimum capital required
- Full freedom in agreements between partners
- Suitable for temporary or project-based collaborations
- Interesting for liberal professions or partners who remain individually active
Who benefits from a partnership?
The partnership is popular among:
- Liberal professions (e.g. doctors, lawyers, notaries, architects…)
- Partners wishing to carry out one activity together while remaining independent
- Families who jointly invest in real estate or manage assets together
- Temporary collaborations without an elaborate underlying structure
Transparent agreements make strong partnerships
The simplicity of a partnership also means that clear agreements are essential: who does what, how are profits distributed, what happens in the event of withdrawal or death? Among others, PIA Group’s accountants and advisory experts can help you draft a solid partnership agreement that safeguards your collaboration.
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