Corporate governance failures lead to costly consequences. Protect your business and reputation by understanding the new rules of the game. Our guide breaks down everything you need to know.
Partnership, a business organization where two or more individuals share ownership and control, offers a flexible and dynamic structure for businesses of various sizes and industries.
However, navigating partnerships’ legal and administrative complexities can be daunting, often requiring specialized expertise and guidance. Our comprehensive partnership formation and management services provide you with the support and expertise you need to establish, operate, and grow your partnership effectively.
Additional Services
- Partnership Audit and Review: We conduct thorough audits of partnership accounts to identify potential issues and ensure financial transparency.
- Partnership Asset Management: We assist in managing partnership assets, ensuring they are utilized efficiently and aligned with business objectives.
- Partnership Succession Planning: We help you plan for future succession of partnership interests, ensuring a smooth transition and continuity of the business.
Why Choose Us
- In-depth Expertise and Experience: Our team of experienced partnership lawyers and accountants possesses extensive knowledge of partnership law, taxation, and accounting, ensuring you receive the highest level of expertise.
- Proactive and Personalized Approach: We take a proactive approach to managing your partnership, proactively addressing potential issues and providing personalized guidance tailored to your specific needs.
- Cost-Effective Solutions: We offer competitive pricing for our partnership formation and management services, ensuring you receive value for money while adhering to your budget constraints.
Bulgaria
Poland
Types of Partnerships Available
General Partnership, Limited Partnership, Limited Liability Partnership (LLP)
General Partnership (Spółka jawna), Limited Partnership (Spółka komandytowa), Professional Partnership (Spółka partnerska)
Minimum Number of Partners
Two for General and Limited Partnerships.
At least two for both General and Limited Partnerships.
Taxation for Partnerships
Subject to corporate income tax; partnerships must file tax returns.
Partners are taxed individually on their income from the partnership. General partnerships are not taxed at the entity level, but limited partnerships may have corporate tax implications for corporate partners.
Liability Structure
Unlimited liability for General Partnerships; limited liability for Limited Partnerships.
Unlimited liability for partners in General Partnerships; mixed liability (limited and unlimited) in Limited Partnerships.
Profit Sharing Rules
Determined by the partnership agreement.
As determined by the partnership agreement, profits are generally shared equally in the absence of an agreement.
Foreign Ownership Rules
Foreigners can form partnerships but may require local partnerships for certain activities.
Foreign nationals can form or be part of partnerships, subject to compliance with local laws and regulations.
Dissolution Process
As outlined in the Commercial Law and partnership agreement.
As per the Polish Commercial Companies Code and the partnership agreement.
Reporting and Compliance Requirements
Annual financial statements and audits for certain types of partnerships.
Annual financial reporting and compliance with accounting standards. Audits may be required depending on the size and scope of the partnership.
Partnership Agreement Requirements
Must detail the rights and obligations of partners, business nature, and profit sharing.
Must include details like the partnership's name, registered office, scope of business, contributions by partners, and duration.
Regulatory Body Overseeing Partnerships
The Commercial Register and Registry Agency.
The National Court Register (Krajowy Rejestr Sądowy) and relevant tax authorities.
Banking and Finance Options for Partnerships
Access to various banking services, including loans, overdrafts, and credit facilities.
Access to corporate banking services, including loans, credit lines, and other financial products offered by Polish banks.
Key Benefits of Partner with Novo Solution
- Streamlined Partnership Formation: We guide you through the intricate partnership formation process, ensuring compliance with all legal and regulatory requirements in the chosen jurisdiction.
- Tailored Partnership Agreements: We assist in drafting comprehensive partnership agreements that clearly define the rights, responsibilities, and obligations of each partner, fostering a harmonious business relationship.
- Expert Advice on Partnership Law and Governance: We provide ongoing legal counsel on partnership law, ensuring that your partnership operates within the legal framework and complies with relevant regulations.
- Expertise in Partnership Accounting and Tax Management: We handle your partnership’s accounting and tax responsibilities, ensuring accurate and timely financial reporting and adherence to tax compliance requirements.
- Prompt Resolution of Partnership Disputes: We mediate and negotiate partnership disputes to maintain a healthy and productive working relationship among partners.
Partnership Formation Process
We guide you through the comprehensive partnership formation process, ensuring seamless incorporation and compliance with legal and regulatory requirements:
- Partnership Agreement Drafting: We work closely with you to draft a customized partnership agreement that clearly outlines the partnership structure, ownership rights, management structure, profit and loss allocation, and dispute resolution mechanisms.
- Registration and Compliance: We assist in registering your partnership with the relevant authorities and ensuring compliance with all applicable laws, regulations, and tax requirements.
- Accounting and Auditing: We establish and maintain accurate accounting records, prepare financial statements, and conduct regular audits to ensure financial transparency and compliance with tax regulations.
- Tax Planning and Compliance: We provide consulting services to optimize your partnership’s tax structure and minimize tax liabilities.
- Partnership Dispute Resolution: We mediate and negotiate partnership disputes to maintain a harmonious business relationship among partners.
- Partnership Succession Planning: We assist in planning for the future succession of partnership interests, ensuring a seamless transition and continuity of the business.
Partnerships offer a dynamic and flexible business structure for growth and collaboration. Let us empower you to navigate the complexities of partnership formation and management, ensuring the success of your entrepreneurial endeavors. Contact us today to discuss your partnership needs and embark on a path of shared success.
Latest Insights
Learn about the top 5 countries where you can kickstart your business quickly with streamlined company registration processes
Contact Us
Build Lasting Partnerships for a Brighter Business Future. Start Your Journey to Collaborative Success with Us. Get in Touch
Contacts:
Dubai: +971585519574
contact@novo-solution.net
Dubai, UAE:
Meydan Grandstand, 6th floor,
Meydan Road, Nad Al Sheba
Meydan Grandstand, 6th floor,
Meydan Road, Nad Al Sheba
