Partnership British Columbia

Partnership Registration in BC

A Partnership is defined as a business arrangement between two or more individuals who share the profits and liabilities of the business. In Canada there are three types of Partnerships - General Partnership, Limited Partnership and Limited Liability Partnership.

Partnership form of business is not a legal entity. It is best thought of as a legally registered business alias under which you operate. Each Partner reports and pays income tax on his or her personal income tax return. A Partnership form of business can be registered with BC business registry.

Advantages:

  • Partnership form of business has an ease of formation. A Partnership Agreement should be prepared.
  • Partnership form of business has low start-up costs.
  • Limited outside regulation. The business name must be registered.

Disadvantages:

  • Partnership has an unlimited personal risk. Each of the partners is personally liable for the full amount of the debts of the partnership.
  • Partnership form of business has a lack of continuity. The death or voluntary retirement of a partner dissolves the partnership. An individual interest in a partnership is transferable only with the consent of the remaining partners.
  • In a Partnership form of business you are responsible for your partner’s actions. Unless otherwise stipulated in a Partnership Agreement, each partner is authorized to act on behalf of the partnership and bind it legally.

Partnership Registration in BC

Package Services include: Rates *
Government Filing Fees $ 40.00
Name Reservation Fees $ 59.95
Registration Fees

$ 45.00

Sub-Total

$ 144.95

HST

$ 13.64

Total

$ 158.59

* Taxes and disbursements are extra, where applicable.

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Register a Sole Proprietorship

Register a Partnership

Register a Trade Name

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