Company Formation · Built on personal trust
Partnerships (General & Limited)
Companies built on personal trust between partners. In a general partnership all partners are personally and jointly liable for the company's debts; a limited partnership has at least one general partner and a limited partner liable only up to their share.
At a glance
- Types
- General and limited partnership
- General partner liability
- Personal, joint and unlimited
- Limited partner liability
- Up to their share only
- Firm name
- Made of the general partners' names
Suits
- Small family and professional partnerships
- Partners with strong trust and prior acquaintance
- A financing partner who wants no management role (limited partnership)
Advantages
- Simple formation procedures
- Wide flexibility in partner agreements
- Well suited to small businesses
Keep in mind
- Unlimited liability of general partners
- The company is affected by a partner's exit or death unless the contract provides otherwise
Formation steps with us
- 1
First consultation
We understand your plan and set out requirements and timeline.
- 2
Choosing the entity
We compare legal forms and recommend the best fit.
- 3
Trade name
We check the proposed name and follow its approval.
- 4
Memorandum
We draft the founding contract to protect every partner.
- 5
Registration
Commercial Registry entry and tax registration.
- 6
After formation
Contracts, amendments, investor residency and ongoing support.
Questions about Partnerships (General & Limited)
Requirements vary by entity and activity; we send the exact list for your case after the first consultation.
What is the difference between a general and a limited partnership?
In a general partnership all partners are general partners with unlimited liability; a limited partnership has at least one general partner and a limited partner whose liability is capped at their share and who does not manage.
Can a general partnership become an LLC?
Yes. The legal form can be changed to protect partners' personal assets, and we handle the conversion.
How do I protect myself in a general partnership?
With a precise partnership contract covering management, limits of authority, partner exits and share liquidation — the focus of our drafting.
Ready to form your company?
Book your first consultation and we will send you the proposed entity, required documents and expected timeline.