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Q：
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What is a limited partnership?
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A limited partnership is a contractual form of organization composed of general partners and limited partners. Like a corporation, a limited partnership possesses a separate legal personality. It must be legally registered before it may conduct business under the name of a “limited partnership”.
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What is the difference between a limited partner and a general partner?
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A general partner has the authority to manage and operate the business and bears unlimited liability for the partnership’s debts. In contrast, a limited partner is not involved in the management of the business and is only liable up to the amount of their capital contribution.
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What is the competent authority for limited partnership?
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The central competent authority is the Ministry of Economic Affairs, while the competent authority at the municipal level is the municipal government.
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What is the difference between a limited partnership and a general partnership?
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A limited partnership, while still classified as a contractual form of organization and permitting the partnership agreement to stipulate terms regarding installment contributions, transfer of capital interests, and profit distribution, differs from a general partnership in that it constitutes a profit-oriented enterprise with an independent legal personality.
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Are there any restrictions on the transfer of capital contributions in a limited partnership?
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A partner in a limited partnership may transfer all or part of their capital contribution to another person in accordance with the provisions of the partnership agreement or with the unanimous consent of all other partners.
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FAQ
