Overview of company structures

What types of partnerships are available, should I start a partnership?

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?