Owner of a Private Enterprise is permitted to join a Partnership Company in what capacity?

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In what capacity can the owner of a private enterprise participate in a partnership company?

Pursuant to Article 177 of the Law on Enterprises 2020, a partnership company has two types of members: general partners and capital-contributing members.

Article 188 of this Law stipulates:

- A private enterprise is an enterprise owned by an individual who is solely responsible with all their assets for all activities of the enterprise.

- A private enterprise is not permitted to issue any kind of securities.

- Each individual is only entitled to establish one private enterprise. The owner of a private enterprise is not allowed to concurrently be the owner of a household business or a general partner of a partnership company.

- A private enterprise is not allowed to contribute capital to establish or purchase shares, capital contribution portions in a partnership company, limited liability company, or joint-stock company.

Thus, the owner of a private enterprise can only participate in a partnership company as a capital-contributing member of the partnership company.

Respectfully!

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