Partnership Registration

Partnership Registration
According to the Civil and Commercial Code
 

Partnership Registration
          According to the Civil and Commercial Code

Type of Partnership
          According to the Civil and Commercial Code, the partnership can be divided into 2 types as follows :

(1) Ordinary Partnership
(2) Limited Partnership

Ordinary Partnership
          Is that kind of partnership in which all the parthers are jointly and unlimitedly liable for all the obligations of the partnership
The ordinary partnership shall register as the juristic person or not. Therefore, the ordinary partnership can be divided into 2 types as follows :

(1). Non-registered Ordinary Partnership with no legal status as the juristic person
(2). Registered Ordinary Partnership with legal status as the juristic person

Limited Partnership
          Is that kind of partnership in which there are :

1. One or more partners whose liability is limited to such amount as they may respectively undertahe to contribute to the partnership, and
2. One or more parthers who are jointly and unlimitedly liable for all the obligations of the partnership.

Establishment of Partnership
          When two persons or above agree to invest in the ordinary partnership in one of the abovementioned type, the managing partner who is appointed from every partner must be responsible for requesting for the registration of such partnership to the officer at the commercial registration office that the head office of the partnership is located on.
A limited partnership must be managed only by the partners with unlimited liability.

Registration of the Change. Modification, or Liquidation of Partnership
          In case that partners of such partnership agree to change or modify any registered transactions, or the partners aim to liquidate the businesses, they shall request the registration of the change or modification of such transactions or registration of business liquidation at the commercial registration office that the head office of the partnership is located on.
The registration for the establishment, change, modification, or liquidation of businesses shall perform according to the method and criteria specified by the law and government