Registered Partnership

The main difference between a civil partnership and a registered partnership is responsibility of an owner and obligation to reveal owner’s name in the company’s name. People who worked in the company after its establishment and before the registration respond for a company’s obligation solidarity.

To establish this company are needed:

1. signing a company’s agreement:
o company’s registered office,
o estimating amount of each owners’ financial input,
o specified operation,
o period for a company’s existence,

2. notifying a company to The Registration Office:
- a company’s registered office,
- specified operation,
• names and surnames or firms of the owners and addresses or their correspondence contact.
• a firm and headquarters of a company,
• determination of contribution contributed by each accomplice and its value,
• a company’s activity object,
• time of a company existing if it is meant.

2) an application for a registered partnership registration to the National Court Register.

It is obliged to include:
- a Firm, headquarters and an address of a company,
- A company’s activity object,
- Surname and names either of firms or accomplice and addresses of either accomplice or their deliveries addresses,
- Surname and names of persons, who are entitled to represent a company, and manner of representation.

Advantages:
- probability of a company representation by each accomplice or if accomplices will decide something other in memorandum,
- lack of regulations defining height of stock capital,
- low registration costs,
- capability of disclosure in a name of a company, names of all accomplices.

Disadvantages:
- Liability of accomplices for company obligations by their whole personal property in case when it is not possible to alleviate obligations from property of a company.