General Partnership Registration
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General Partnership Registration
A partnership is a relationship between two or more persons carrying on a business with a view to making a profit. Some individuals choose a partnership as the manner in which to carry on a business because of its ease of formation and dissolution, as well as its overall lack of formalities.
However, like a sole proprietorship, one of the primary disadvantages to choosing a partnership as your business form, includes the unlimited personal liability of each partner for all of the debts and obligations of the partnership. In other words, every partner is liable for all the debts incurred by the other partners while acting in the course of business, regardless of the capital contribution of individual partners. Also, the owner may be liable for the actions of employees in the course of their employment.
There are other partnerships such as Limited Liability Partnerships and Limited Partnerships which may under certain circumstances shield the partners from this personal liability. Contact a competent lawyer for advice on which best suits your circumstances. CorporationCentre.ca does not offer legal advice of any kind. Moreover, please note that we do NOT file registrations for limited liability partnerships or limited partnerships.
Many partnerships tend to be small and localized. The advantages commonly associated with carrying on a general partnership are the following: (1) ease in which to start and dissolve the business (through a simple business registration); and (2) modest start up expenses (see below for partnership registration fees).
Most jurisdictions require that partnerships register with the relevant government department or authority under the trade name it is operating under. This is sometimes referred to as a “Business Registration”, “Business Name Registration” or “Doing business as (DBA)”. Of course, you do have to get the same business licenses and permits as any other company that goes into the same business.
Moreover, when you register your business with the government’s registration division, you still have to register with the tax department. You may be required to apply for GST and PST and payroll tax numbers (if you have employees) and Import/Export tax numbers.
To learn about other business organizations like incorporations or sole proprietorships click here.
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| Alberta | $26 | 2 business days |
| British Columbia | $40 | 2 business days |
| Manitoba | $45 | 10 business days |
| New Brunswick | $112 | 15 business days |
| Nova Scotia | $59.86 | 7 business days |
| Ontario | $60 | 1 business days |
| Prince Edward Island | $65 | 10 business days |
| Quebec | $67.5 | 15 business days |
| Saskatchewan | $55 | 10 business days |
| Yukon Territory | $25 | 15 business days |
