If a partnership is dissolved, partners should follow the dissolution procedures outlined in the partnership agreement. Debts and obligations should be settled, assets distributed, and necessary notifications made to relevant authorities. [...]
In Hong Kong, partnerships themselves are not taxed. Instead, partners are individually responsible for reporting their share of partnership income on their personal tax returns.
The partnership agreement should outline dispute resolution procedures. In Hong Kong, mediation or arbitration is often recommended to resolve disputes amicably and efficiently.
Yes, a partnership agreement can be amended if all partners agree to the changes. It's important to document any changes in writing and ensure that all partners are aware of and agree [...]
In a general partnership, all partners are jointly and individually liable for the partnership's debts and obligations. In a limited partnership, there are both general partners (liable) and limited partners (liable only [...]