General Partnership Company

Συμβολαιογραφικές & Νομικές Υπηρεσίες


General details of a general partnership company: Its name usually consists of the name and surname of a certain one or more of the partners with the addition of the words "and Co. G.P.". Each partner, parallel with the company, regarding the fulfilment of the company obligations, is also responsible infinitely and in whole with their personal assets.

In the case where the general partnership company goes bankrupt, its partners are also co-bankrupt. However, in the case where a general partner goes bankrupt, the company does not fail, but it is dissolved and placed under settlement.

The partner leaving the company continues to be infinitely and in whole responsible with his personal assets for the company's obligations – even for those that have not become over due at the time of his departure – provided though that such obligations had been created prior to his departure.

To establish a general partnership company, the company contract may be drafted either by private document or by notary deed through the One-Stop Service in accordance with the Law 3583/2010.

1.     Private agreement with the terms and agreements of the parties (full names, T.R.N. (Tax Registration Number) and Tax Service Branch (D.O.Y.) of the parties, mission, registered office, manager or managers, liquidator or liquidators etc.), which is signed in as many copies as the parties plus one additional for the D.O.Y.
2.     The one copy with the original signatures of the parties is filed with the competent D.O.Y. of the company's registered office, in order to pay the tax for capital gathering.
3.     The same copy, with the seal of the competent D.O.Y., is submitted and stamped by the competent Chamber as the case may be and then it is filed with the Legal Fund and with the T.P.D.A. (Athens Solicitors Welfare Fund) for the payment of the contributions provisioned. Finally, the same original, with the above validations, is deposited at the Building of the competent Magistrates' Court where it is published.

Since 9/4/2014 the capital raising tax  according to the law articles 17 and on, law 1676/1986 (A' 204) is not imposed during the establishment of a company.

In the case where in the general partnership company a property is contributed as capital, its establishment must definitely be effected by notary deed, the appropriate transfer tax is paid and the articles of association are subject to transcription with the competent local Land Registry or entry in the competent Cadastral Office.

For the amendment and dissolution of the general partnership company applies the same as it applies for their establishment. 

In the case of transfer of a company share, this requires the submission of the relevant statement for tax payment in accordance with its equity in the competent D.O.Y.

For the conversion of a general partnership company into a limited liability company (Ltd) or into an incorporated company (or societe anonyme), this requires the drafting of a notary instrument and observance of what is mentioned below regarding L.T.D. and S.A. companies.

If with the amendment the company\'s registered office is transferred to the Municipality of another Court of First Instance from the Court of First Instance with which its establishment was entered, the amendment document is published at the initial Court of First Instance and along with an amendment certificate, in following the procedure for the notification of all the Services that were also notified during the establishment, and it is also published at the Court of First Instance of its new registered office.