A limited partnership is a preferred form of a business activity, which allows partners to disable with a personal liability and to avoid double taxation. Doing business in the form of a limited partnership helps to reduce a business risk and optimize the tax burden .
We provide legal assistance in the process of setting up limited partnerships. We help in converting partnerships into limited partnerships. The conversion may be effected in the following cases: civil partnership, general partnership, professional partnership, limited joint-stock partnership and capital companies: limited liability companies and joint stock companies. It is also acceptable to convert into a limited partnership of a work cooperative.
Specialties of our law firm
We provide legal advice at the planning stage of an establishment of a limited partnership.
We prepare documentation for an establishment of a limited partnership: a memorandum of association , the documents connected with the registration of a limited partnership.
We conduct legal audit – we verify the possibility of converting the company into a limited partnership – in cooperation with the auditor and tax advisor.
We set up the contribution of an enterprise as an in-kind contribution to the limited partnership.
We prepare and support the process of establishing a limited partnership based on the company’s business activity and the existing company.
We represent the limited partnership and the partners to the KRS and the tax office.
- tax optimization – individual income tax – income tax is paid only by partners
- limiting personal liability of the company co-owners – while a commercial company plays
- the role of a general partner of the limited partnership the financial liability of a limited partner is limited to the amount of the limited partner’s liability specified in the memorandum of association
- no need for a share capital of the company
- flexible distribution of the profit