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partnership

  1. #1

    Join Date
    Nov 2018
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    13

    partnership

    Hi Everyone

    I have some properties in HK. A close friend have asked me to go into a partnership with her. Do I need to get some legal advice from a lawyer? Her brother is a lawyer and a close friend of hers is her accountant. & they are handling the matter. I think I should get some legal advice on my side. Anybody have any ideas would be most appreciated. Or this is a bad idea and deal from the start.


  2. #2

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    5,496

    How would anyone know how to answer your question. You didn't even mention what kind of partnership?


  3. #3

    Join Date
    Dec 2002
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    薄扶林
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    25,353

    Always seek independent advice. Always.

    Have a GeoExpat related problem - please create a support ticket.

  4. #4

    Join Date
    Nov 2018
    Posts
    13

    Sorry, I am kind of new to this forum. Partnership is I would provide the property and she would provide the funds for building on the property. I am also new to any business venture. So I am kind of lost


  5. #5

    Join Date
    Jul 2004
    Posts
    2,726

    Sounds like a village house, different beast altogether from normal property.. Better get a lawyer for yourself, forum opinions wont help you..

    JAherbert and gigglinggal like this.

  6. #6

    Join Date
    Jan 2008
    Posts
    11,050
    Quote Originally Posted by 16pnon
    Sorry, I am kind of new to this forum. Partnership is I would provide the property and she would provide the funds for building on the property. I am also new to any business venture. So I am kind of lost
    are you taking about your 'ding right' to build rural house, you have land and you have the right to build rural house as your family ancestry is from the same village? where is your village? do you have 3 stars right to abode status? is the land deeds under your name or your parents?

  7. #7

    Join Date
    Nov 2018
    Posts
    13

    yes, the land is in my name. land is in the north district. village is in fanling. have 3 star rta. any legal advice?? Very worry about propose business venture. don't know what to do!!


  8. #8

    Join Date
    Jan 2018
    Posts
    1,082

    Generally people form some kind of limited liability company rather than partnership- partnership can make you liable for lots of debts if you are a general partner.

    Take a look here:

    https://en.wikipedia.org/wiki/Partnership_(Hong_Kong)

    You can talk to those companies that set up LLCs and such for some level of advice or pay for an hour consult with an attorney and get your questions answered.


  9. #9

    Join Date
    Apr 2003
    Location
    Hong Kong
    Posts
    1,957
    Quote Originally Posted by nivantj
    Sounds like a village house, different beast altogether from normal property.. Better get a lawyer for yourself, forum opinions wont help you..
    agreed. If it is a village house, you better be 100% certain that the lawyer knows the Village house rules backwards.
    nivantj and imparanoic like this.

  10. #10

    Join Date
    Jan 2008
    Posts
    11,050
    Quote Originally Posted by 16pnon
    yes, the land is in my name. land is in the north district. village is in fanling. have 3 star rta. any legal advice?? Very worry about propose business venture. don't know what to do!!
    Mr Kin Leung is the solictor which literally everyone in sha tau kok, sheung shui and fanling seeks for legal advice and legal process for building a house, he can also arrange inital process of chartered surveying with the designated surveyor and guide you and your partner through the legal process, speaks cantonese and some hakka, but can speak ok-ish english, he also does probate for overseas chinese / and local chinese who parents who have passed away and have property under their name

    LEUNG KIN & CO.
    MABinPengChau, shri, jgl and 1 others like this.

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