General partnership
An unincorporated partnership between people who run a business together with a view to profit. It is formed by agreement or conduct, and nothing is registered with the Registrar.
- Entiva fee to form
- Quoted before it starts
- Government fees to form
- None listed
- Run plan
- $119 a month
- Steps to form
- 2
- Ways to close
- 1
Who it suits, and what defines it.
Governed by the Partnership Act, Parts II-V.
Who it suits
- People running a business together with a view to profit.
Key facts
- Registration
- None; no Registry filing
- Formed by
- Agreement or conduct
- Liability
- Partners are liable for the firm's debts
- Government fee
- None
- Trade licence
- Needed to carry on business in the BVI
- Dissolution
- Governed by Part V of the Partnership Act
- Statute
- Partnership Act, Parts II-V
What the law requires.
3 rules, each in plain words.
No registry filing is needed
A written partnership agreement is advisable, as Part IV governs relations between partners.
A trade licence if the partnership carries on business in the BVI
It comes from the Department of Trade, Investment Promotion and Consumer Affairs.
Partners' ownership and nationality affect the trade licence documents
Non-Belongers add references, a financial statement, a police certificate and a passport copy.
How Entiva forms it.
2 steps. Entiva prepares and files each one, and collects every signature the law needs.
The steps
2 steps- 1Record the partnership agreement
Nothing is filed with the Registrar, and there is no government fee.
- 2Apply for a trade licence
Needed only to trade in the BVI itself. Apply before starting business.
Documents
4- Partnership agreement
- Photo ID of each partner
- Proof of address of each partner
- Resolution of any corporate partner authorising the partnership
Who takes part
3- Each partner and manager, and anyone who can sign or give directions
- Anyone signing for a corporate partner, with evidence of authority
- The client instructing the formation
How it closes.
One route, filed step by step.
Dissolution and winding up
For example when the term ends, a partner gives notice, a partner dies or goes bankrupt, or the Court orders it.
- 1
Give notice of dissolution to the partners
- 2
Publish a public notice of the dissolution, if wanted
- 3
Settle the partnership accounts
What Entiva does for you.
From the first filing to the last.
General partnership
- Prepares the partnership agreement and collects each partner's approval.Formation
- Checks the identity of each partner.Formation
- Prepares and submits the trade licence application if the partnership trades in the BVI.Formation
- Prepares the dissolution notices and accounts and records the closure.Closing
Build it with the API.
Every step on this page is an action in the Entiva API, with its documents, signatures and filing.
What it costs, item by item.
Every Entiva fee and every government fee, from forming it to closing it.
Forming it
Quoted before it starts
- Government fees
- None listed
Closing it
From $3,709
- Entiva fee
- Fixed, quoted first
- Government fees
- At cost
Included in the Run plan
- Every deadline tracked
Extra, at a fixed fee
- Apply for a trade licence
Each extra is quoted before it starts, and nothing is done until you approve it.
Forming it
Formation is quoted before it starts. Government fees are passed through at cost.
Excludes steps marked only if needed.
Closing it
Closing is a fixed-fee project, quoted before it starts.
Entiva fees are in US dollars. Government fees are in the currency each authority charges, passed through at cost when the filing is made. Taxes are separate.
Start with your first company.
We are onboarding a small group of founders and finance teams with entities in more than one country.