Scottish Limited Partnerships

A Scottish limited partnership (SLP) can be used in for purposes such as private equity and property investment fund structures. It is an attractive vehicle for fund managers, promoters and investors, both domestic and overseas. 

Like a general partnership, a limited partnership consists of two or more partners who carry on business with a view to profit. However, unlike a general partnership, in which all partners are jointly and severally liable for all the partnership debts, a limited partnership has two types of partner: general partners who are liable for the debts and obligations of the limited partnership and limited partners whose liability is limited to the extent of their capital contributions. 

A limited partnership has at least one general partner and one limited partner. 

To benefit from limited liability, a limited partner cannot take part in or interfere in management of the limited partnership. 

Management functions are exclusively allocated to the general partner. 

The general partner deals with the day to day running of the company and does not benefit from protected liability in the same way the Limited partners liability is set to the amount they contribute to the company and they must not help with the day to day running of the business or they will lose their limited liability An LP is not required to officially file annual accounts and annual return documents with Companies House.

In a Limited Liability Partnership (LLP) all members have limited liability and the responsibilities of each partners, how much they contribute, how much profit is received etc. is dictated by a partnership agreement. This type of entity must also file annul accounts and an Annual return each year within the designated filing date. 

The Registered address is included in the annual fee of our Scottish LPs.  Package options include:

 - Ready-made Scottish Limited Partnership

- registered address and registration agent services for 1 year 

- Nominee General Partner and Nominee Limited Partner service for 1 year

- Company documents under Apostille including General Power of Attorney

- annual return filing

Please contact us for fee information on ready made SLPs.  Email companyorder@eircom.net or telephone (353) 86 070 4812.