Consortium

A consortium is an association of two or more individuals, companies, organisations or governments with an objective of participating in a common activity or pooling their resources for achieving a common goal

Advantages of Consortium

• You can share your decisions on business activities with other partners;
• With these forms, you can manage medium- and large-sized companies;
• Your liability and that of your partners is limited to the value of the company’s share capital;
• The economic and financial management can be controlled more easily;
• Cooperatives enjoy lower tax rates.

Disadvantages of Consortium

• They are expensive types of companies;
• Decisions must be made following special procedures;
• They are required to draw up and submit a yearly balance sheet;
• They must be managed using an ordinary accounting method;
• They are incorporated by means of a written charter drawn up by a notary public.