Where a person joins with other people to conduct business for getting profits, this is a partnership business. The Hong Kong Partnership Ordinance defines partnership as the relation which subsists between persons carrying on a business in common with a view of profit. The law looks at the intention of the parties. When a person receives a share of the profits of a business, this is apparent evidence that he is a partner in the business. A partnership can have partners up to a maximum of 20.
Procedure for setting up a Partnership
A business is conducted under a partnership agreement must be registered with Business Registration Office of Inland Revenue Department of Hong Kong, within 1 month of the commencement of the business.
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