Two or more persons may establish a general partnership, which is a partnership but not a limited partnership, in the QFC under the QFC Partnership Regulations.

Key Features

• Not a separate legal entity; It is a partnership between two or more persons carrying on business together
• Each of the partners in a general partnership has unlimited liability and is personally liable jointly and severally with other partners for the partnership’s debts and liabilities
• A general partnership may, at its option, register with the CRO
• Partners are required to enter into a partnership agreement
• No partner may be required to contribute capital to the partnership
• An address for service of each partner must be disclosed
• Proper accounts and accounting records must be kept and available