Partnership

The partnership is the only company form without legal personality and is, in fact, an agreement between two or more persons. In partnership agreements, the partners undertake to contribute to the community, having the aim of paying a(n) direct/indirect pecuniary advantage. No minimum capital is required, but by the contributions made by the partners, the partnership has, nevertheless, a capital which belongs in collective ownership to the partners.

The partners of a partnership are severally and unlimitedly liable to the extent of their private capital for the debts of the company.

Incorporation formalities

The partnership is incorporated through an agreement among the partners. The incorporation of a partnership can be done both without and with an authentic deed. The articles of association of the partnership need not be published.

Management

A partnership can be managed by one or more business managers. They can be the partners themselves, as well as third parties to whom the management is assigned. The business managers can be appointed in the formation agreement or by a later resolution passed by the partners.

Unless other arrangements are made, the company is managed by all partners. The partners are bound toward third parties by the act of one of them or of the business manager, insofar as the act falls within the limits of his/her competence.

The powers of the business managers are established by the relevant certificate of appointment. The business managers act in the capacity of mandatary and can perform their tasks separately, unless the agreement or certificate of appointment stipulates that they have to act together.

Ready to start your own business?

Start your own business now online on:

StartMyBusiness Logo
Let's get started!

Good to know

Tips for the entrepreneur

Protecting your home with a declaration of non-distrainability

If you are self-employed, several options are available to protect your private assets against claims from your professional creditors. And that’s important, because if you are no longer able to pay your business debts, your creditors could seize your property. Which could have serious consequences for your family. Thanks to a declaration of non-distrainability of the family home, you can ensure that your professional creditors cannot seize your main residence. You can have this declaration drawn up by a notary. More information? Read all about it in the “doing business” section on Notaris.be!

Tips for the entrepreneur

Protecting your property and that of your partner with a marriage contract.

It can sometimes be a good idea for entrepreneurs to enter into a marriage contract with “separation of property”. If you incur professional debts in the context of your activity as a self-employed worker, it may be useful to keep your incomes separate. In that case, professional creditors cannot touch your partner’s income. Giving you security for times when your business may not go so well. Like to know more about the benefits of a marriage contract? Find out here on Notaris.be!

Tips for the entrepreneur

Donating a company

Each Belgian region has a preferential ‘company donation’ tax system. In Flanders and Brussels, u no tax is levied on a donation like this, provided a couple of conditions are met. A company donation involves a donation of a one-man business or the corporate shares. In each region, you also have to meet a series of conditions for a certain period of time after the donation if you want to keep the tax benefit. Don’t hesitate to ask a notary for more information. Find out about it on www.notaris.be

Do you have other questions?

FAQ

Explore common questions in our FAQ

To FAQ

Contact

Contact a notary's office

Contact us