This discussion clarifies whether a joint bank account is required when forming a partnership or joint venture between two individuals. The consensus is that establishing a joint account is indeed necessary for such business arrangements. The user, an independent contractor looking to partner with a friend, received confirmation and plans to proceed with opening a joint account.
18 October 2020
When we create Partnerahip /Joint Venture between 2 individuls is it necessary to create joint bank account? As I am independant contractor and my friend wants to have a partnership with me for several projects . Please guide the needful