A Partnership is a separate legal entity from that of the participants in the

partnership. A partnerships consist of 2 or more individuals, and may either

be a; general partnership, where partners have unlimited liability for the
debts and obligation of the partnership, or a limited partnership, where one
or more of the partners have unlimited liability and some partners have
liability only up to the amount of their capital contributions. A partnership
might be suitable for foreign companies wishing to venture into business in
the Philippines.

Requirements:
 Registration with DTI or SEC (depending on partnership’s capital)
 Submission of duly notarized Articles of Partnership
 Submission of SEC form F-105 (for partnerships with foreign members)
 Procurement of licenses and clearances from necessary government
offices
 Registration with BIR
 Registration with government offices (if employing individuals)
 Acquisition of business permit and mayor’s license
Procedure:
1. Draft Partnership papers
2. Present accomplished forms and documents to SEC for processing and
evaluation
3. Present verification from local bank of minimum paid up capital in trust
account
4. Present other requirements (for partnerships with foreign or Corporation
members)
5. Claim registration from records division
6. Complete necessary applications with government agencies