Overview of company structures

Let’s dive into the 3 common types of partnerships:

1. Partnership
2. Limited Partnership (LP) and
3. Limited Liability Partnership (LLP)

In deciding the type of partnership to set up, consider the following factors:

• What liabilities and responsibilities are you prepared to assume?
• What is the tax implications?
• Is the business entity easy to close?
• What are the advantages and disadvantages of the different business entities?