A Civil Law partnership

The associates according the company’s agreement declare to achieve the common objective by special input. The economy activity is to obtain economical benefit that does not always mean financial.

Advantages:
• Low cost of undertaking economic activity comparing with registration costs of other forms of economic activity,
• Big freedom in establishing new regulations in a company’s agreement,
• Possibility of all tax forms according to economic activity,
• Good organizational form for conducting small economic activity,
• Simple form of liquidation.

Disadvantages:
• Owners’ responsibility with the personal assets for the company’s liabilities,
• The necessity of registration of each owner individually and revealing their names under a company’s name