Partnership (general partnership)British Virgin Islands
What it takes to form, own and run a general partnership in British Virgin Islands, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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Every partner in a firm is liable jointly with the other partners for all debts
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Partnership is the relation of which subsists between persons carrying on a business in common with a view of profit.
The registry’s and the law’s own pages do not mention it.
Form it
Who registers it
Not in our records Registry, Formed without visiting, Formed online: none of these is in our records for the Partnership (general partnership).
What it takes to form
- A notary
- Not required
- A resident director
- Does not apply
- Paying up the capital
- No paid-up rule: a partnership exists as a relation between persons carrying on a business (s.3(1)); unless the partners agree otherwise they share capital and profits equally (s.26(a)).
Quote
all the partners are entitled to share equally in the capital and profits of the business and shall contribute equally towards the losses
Own it
Who may own and run it
Not in our records Directors, Shareholders, Members, A local company secretary, A local registered agent: none of these is in our records for the Partnership (general partnership).
Each year, at the registry
Not in our records Annual registry fee, Accounts on the public record, Audit for a small company, Audit: none of these is in our records for the Partnership (general partnership).
Important dates
When each obligation falls due, as the authority states it.
Not in our records No dates for the Partnership (general partnership) are in our records.
What is public
Not in our records What the register shows the public is not in our records for the Partnership (general partnership).
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Not in our records
How this type is taxed is not in our records. A partnership or sole trader is often taxed through its owners; incp.pro does not assume it.
- CFC rules in British Virgin Islands
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Dissolution by expiry of a fixed term, termination of a single undertaking, or, for an undefined time, notice by any partner to the others (Partnership Act s.34), subject to any agreement between the partners.
Quote
by any partner giving notice to the other or others of his or her intention to dissolve the
- Statutory fee
- Not in our records
Every business in British Virgin Islands
VAT
- Standard rate
- Not in our recordsThe tax authority’s pages have not been read for British Virgin Islands.
Payment and banking services
1 service names British Virgin Islands on its own list: Airwallex. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- General partnershipDerived our grouping, the same words in every country
- Name in law
- Partnership (general partnership)
- ISO 20275 code
- 1GR6Secondary GLEIF, Entity Legal Forms code list