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Set up a General Partnership in Japan
Updated on Thursday 21st December 2017 Rate this article
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A general partnership, known in Japanese as a Godo kaisha, is similar to the limited liability company in the U.S. or the GmbH in Germany. The general partnership in Japan is a legal entity which is able to effectuate all normal business activities and has a more flexible structure than the joint stock company. Our company formation consultants in Japan can help you open such a company in Japan.Incorporation procedure for starting a general partnership in Japan
In order to open a general partnership in Japan, the following incorporation procedure has to be effectuated:
• Preparing the articles of incorporation: in case the member represents a foreign entity, the articles of incorporation have to be signed by the representative of the foreign entity. The qualification of the representative also has to be prepared;
• Paying the capital subscription by the members;
• Determining the executive members and the representative ones: their address can be outside of Japan;
• Applying for the establishment of a company with the Legal Affair Bureau;
• Acquiring a certified copy of the Commercial Register, etc: Our company registration advisors in Japan can offer further information on this matter;
• Reporting the establishment of the entity to the appropriate ministers through the Bank of Japan;
• Setting up a corporate account with a commercial bank;
• Reporting the establishment of the entity to the Tax Authorities and the appropriate local government.
Characteristics of a general partnership in Japan
Mainly, the investor or investors of a general partnership in Japan have to individually do business and represent the corporation.
This implies that the owner or owners of such a business entity have to manage the business. It is possible, though, to effectuate activities and choose a representative from the executive investors. Our Japan company formation advisors can offer more information on this subject.
Even if it is named a general partnership, such company can be established by a sole owner. The general partnership in Japan is a combination of limited liability of investors and a flexible company structure.
If you need to know more about setting up a general partnership in Japan, we invite you to speak to one of our company formation representatives in Japan.
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