Register a Partnership
A Partnership is defined as a business arrangement between two or more individuals who share the profits and liabilities of the business. In Canada there are three types of Partnerships - General Partnership, Limited Partnership and Limited Liability Partnership.
Partnership form of business is not a legal entity. It is best thought of as a legally registered business alias under which you operate. Each Partner reports and pays income tax on his or her personal income tax return.
The advantages of a Partnership are that the risk and management are shared but as a form of business, is not a legal entity. It is best thought of as a legally registered business alias under which you operate.
To register your Partnership business, you will need to provide the name and address of the business and a description of the business activity that will be performed. All the partners will be required to provide their respective names, home addresses and telephone numbers. A valid Ontario street address must be provided.
Here is what you get once your application is approved:
- You will receive an Official Registration Certificate issued by Ontario government
- This certificate will be valid for 5 years
- If you apply for tax accounts (and you should), you will receive documentation directly from appropriate government departments that administer those accounts. We will also provide you with account numbers where applicable.
Our Business Registration Packages include a comprehensive list of services required to start a business in Ontario.