What you need to create a profile for a Partnership

What is a partnership?

A partnership (or unincorporated joint venture) is the relationship existing between two or more persons who join together to carry out a trade, a business or a profession. A partnership is also not a separate legal person or taxpayer. Each partner is taxed on his or her share of the partnership profits.

You need to have these documents before you start creating the partnerhip’s profile. These documents will also need to be emailed to iKhokha once the profile has been created.

The details on all of the following documents need to match so all need to contain the name, surname and ID details of a member of the partnership.

What documents you will need to create a profile

• ID of ALL partners

• Bank statement

• Selfie of the applicant

• Proof of address (a mortgage statement, a DSTV account, a municipal bill, a SARS document).
• Partnership agreement: this document needs to list ALL partners, how the shares of the business should be allocated, and must be signed by all partners.
• Trading name (official), and nature of the business (a description, like a car wash).