Syndicates are basically associations of business entities formed for a fixed period of time and for precisely defined purpose. Their legal basis is the syndicate agreement.
It is worth to mention that a syndicate is not a separate business entity and therefore it is not subject to registration. The entities comprising a syndicate co-operate to achieve the common goal but remain independent in their other actions. A syndicate does not own a joint property.
The predominant cause for formation of syndicates is realizing large-scale investments that require cooperation of highly specialized entities of different fields (e.g. construction of motorways, housing estates) and also gathering adequate funds for realization of the given project.
CGO Legal law firm provides comprehensive assistance in formation of syndicates. We draft the appropriate agreements and also ensure due legal representation.
Please do not hesitate to contact us to learn more.