Setting Up a Partnership Account on Niobi Introduction If you operate a business with multiple equal or near-equal partners, Niobi's partnership account is designed for collaborative business structures. A partnership account handles the unique needs of multi-owner businesses — from partner verification and profit-sharing records to joint account access and shared financial management. This guide walks you through the complete process of setting up a partnership account, from initial registration through verification and approval. Whether you're a general partnership, limited partnership, or any business with multiple owners, this guide covers everything you need. What you'll learn: - Whether a partnership account is right for your business - Partnership account registration process - Partner information and verification requirements - Ownership structure and profit-sharing setup - Timeline for approval and next steps Time to complete: 15–20 minutes (plus partner verification time) Who Should Set Up a Partnership Account? A partnership account is ideal if: - Your business has 2 or more equal or near-equal owners. - Your business is officially registered as a partnership. - Ownership is shared among partners (not a single owner). - All partners have significant control over the business. - You want multiple authorized signers on the account. - Your business structure is one of the following: - General Partnership (GP) - Limited Partnership (LP) - Limited Liability Partnership (LLP) - Professional Partnership For Other Structures: - One owner? See Creating a Sole Proprietor Account on Niobi. - Registered as an LLC, Corp, etc.? See Registering an LLC/Company Account on Niobi. - Many passive investors? You may need a company account instead. Before You Start 📋 Tip: Gather all partnership documents and partner information before starting. This significantly speeds up verification! ⚡ Partnership Information 🤝 - Legal Name — exactly as registered - Registration Number — if the partnership is registered - Date of Formation — when the partnership started - Partnership Address — official business address - Business Type — industry or business classification - Operating Country — where the partnership operates Partnership Documents 📄 1. Partnership agreement or deed 2. Certificate of partnership (if applicable) 3. Business registration documents 4. Tax registration certificate or partnership tax ID 5. Proof of address (utility bill, lease — dated within 3 months) Partner Information 👥 For each partner, provide: - Full Legal Name — as on government ID - Date of Birth — required for verification - Residential Address — home address (not business) - Ownership % — profit-sharing or ownership percentage - Government ID — passport, driver's license, or national ID - Role/Position — managing partner, partner, etc. Bank Account Details 🏦 1. Partnership bank account information 2. Account holder name (partnership name) 3. Account n