 | | | | | Limited partnership company |
Main features:
Limited partnership companies
The provisions relative to general partnership companies are generally applicable to limited partnership companies.
General partners are not permitted to compete with the company, in accordance with the terms established for partners of general partnership companies.
Limited partnership companies with share capital
The provisions relative to public limited companies are generally applicable to limited partnership companies with share capital.
A limited partnership company with share capital cannot be established with less than five limited partners.
Name
The business name is formed by the name of at least one of the general partners followed by the term "em comandita" or "& Comandita", "em comandita por Acções" or "& Comandita por Acções".
The names of limited partners cannot form part of the business name without their express consent and, in such an event, they are generally subject to the level of liability assumed by general partners relative to third parties.
Partners
Limited partners: partners only liable to the extent of their capital contribution.
General partners: liable for the debts of the company under the same terms as the partners of a general partnership company.
A private limited company or public limited company can be general partners.
No nationality requirements exist.
Capital
No securities representing equity interests can be issued in limited partnership companies. Only the capital holdings of limited partners are represented by shares in limited partnership companies with share capital.
Capital contributions of limited partners cannot take the form of services.
Management
The managers are responsible for representing and managing the company, within the boundaries of its object.
Only general partners may be managers, unless otherwise established in the articles of association.
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