A partnership where the participants jointly are entrepreneurs on equal terms for obligations is called general.
Such a partnership has a number of its own characteristics:
To begin with, you should decide on the name of your general partnership. It must either have the names of all the participants and the prefix GP or the names of only a few with the prefix “and company”, but the term “general partnership” must appear.
Next, you and your colleagues must decide how you do business in your firm. Business will be handled by everyone on equal terms, or by several people whom you appoint together or only one on behalf of.
This is done primarily in order to indicate this in the agreement, because representatives must give reports.
You must also understand that the exclusion of an accomplice from the GP can be in three cases:
The procedure for creating GP does not differ much from the procedure for creating another legal entity. The only thing that is different is the status of a business entity for each participant and the presence of a memorandum of association, which speaks about the type of activity of the GP.
As previously stated, there must be a memorandum of association that defines the type of business of the GP. It should include:
Now in Ukraine there is no law that would regulate the size of the constituent capital of each side, but it can be controlled with the help of acts created to control commercial business.
Registration takes place as follows:
After the register receives your documents, statistics services, the Pension Fund and fiscal authorities are informed. Then your GP should be considered registered within 24 hours.
By contacting Eternity Law International, you can make the registration process easy and fast. We will help you with the preparation of all documents and their submission.
The term will be no more than 6 working days, excluding the receipt of a certificate from the single tax payer (it takes up to 10 working days on average). Come to us and we will be happy to help you!
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.