The partnership is a form of cooperation between two or more persons (partners) who exercise a profession under a joint name. The objective is to share the advantage that derives from that.

Who are involved?

The ultimate right of decision-making rests with the partners in the partnership. A partnership can take persons into employment and/or contractors, volunteers and trainees.

Who has the capital at his/her disposal?

A professional partnership records the agreements made between the partners in writing, such as on the capital to be contributed and the division of the profit. An accountant, legal advisor or solicitor can assist in drawing up a partnership contract. The Tax Office treats every partner in principle as a separate self-employed entrepreneur.

Who is liable?

The partnership is a legal personality without legal entity. That means that the partners are liable with their private capital for the debts of the partnership. A partner who is empowered to do so can conclude an agreement on behalf of the partnership, after which all partners are liable for equal shares (and thus not for the whole). That is thus different from the case of a dual partnership. If a partner acts without authorisation, the other partners are in principle not liable.

Directly to:

General partnership

Examples of the partnership

A partnership is something you sometimes see in the arts and culture sector in the case of architectural firms. In this case, architects all work as self-employed persons and are also taxed as such. However, the costs for accommodation or other joint investments and/or profit are divided in the partnership.