Hi,

I am a work permit holder. I have a friend whose mum is very good in cooking and I'm thinking of joining with them to set up a small restaurant. This restaurant will not be a "limited company" of course, so I was wondering if there's any possibility of me becoming one of their partners?

How do I go about doing it?

Or do we have to register the restaurant as a "company"?

Thanks.

Hi,

I am a work permit holder. I have a friend whose mum is very good in cooking and I'm thinking of joining with them to set up a small restaurant. This restaurant will not be a "limited company" of course, so I was wondering if there's any possibility of me becoming one of their partners?

How do I go about doing it?

Or do we have to register the restaurant as a "company"?

Thanks.

A number of ways such as a sole proprietorship in her name with a loan from you. You register the loan and instead of interest paid back, it could be a % of the gross sales.

You also could do a Limited Partnership. However you could not be involved in the day to day operation. Your name also could not be on the bank account.

We usually reco Limited companies but in some limited cases, the above two examples are a better fit for very small businesses.

www.sunbeltasiagroup.com

Why could Zen's name not be on the bank account if he does a Limited Partnership?

(I did a Limited Partnership and my name is on the bank accounts, is there a problem with that?)