The Limited Partnerships Act in Ireland
The Limited Partnerships Act is one of the oldest legal frameworks attesting the formation of partnerships in Ireland. The law provides for the registration of limited partnerships in Ireland. The Irish legislation on limited partnerships stipulates that two or more natural persons or corporate bodies can open a limited partnership. This type of entity does not have a separate legal personality from its owners. The partners may be local or foreign citizens or companies.
For information about the provisions of the legal framework on limited partnerships you can refer to our Irish specialists in company formation.
Registration requirements for an Irish limited partnership
The main difference between the Irish general partnership and a limited one resides in the status of the partners. In an Irish limited partnership at least one the partners must be a general partner, while the other or others are limited partners. While the general partner will have unlimited liability for the Irish company’s debts and responsibilities, the limited partner’s liability will be limited to the extent of their capital contributions. Another difference between the general and the limited partner is that the first one has managerial rights over the company, compared to the second one who does not have such rights. Other requirements to open a limited partnership in Ireland are:
- – the company must be registered with the Companies Registration Office in Ireland,
- – it must have a registered address in Ireland.
For company registration services you can request the help of our experts in Ireland.
Documents related to the formation of a limited partnership in Ireland
The following documents must be submitted with the Trade Register upon the incorporation of a limited partnership in Ireland:
- – the IDs or passports of all partners,
- – an application form for the registration of the limited partnership which must be signed by all partners,
- – an application form confirming the share capital deposited by the limited partner or partners which must be signed by the general partner.
For assistance in opening a limited partnership in Ireland and for details about the taxation of this type of company, please contact our local agents.