Partnership Types

Limited partnerships in Ireland, governed by the Limited Partnership Act 1907, offer limited liability for investors who cannot partake in management. Limited partnerships are advantageous for venture capital investments, with one layer of tax for investors compared to two in companies.

While Ireland lacks modern limited liability partnership legislation, other jurisdictions have flexible options. Investment limited partnerships, though highly regulated, serve as passive investment vehicles primarily in international financial services.

Registration is necessary for limited partnerships, and failure may result in general partnership status. Changes must be registered promptly to maintain limited liability status.

Limited partners may withdraw funds or assign their interests, with liabilities limited to their capital contributions. Dissolution and winding-up procedures for limited partnerships are similar to those of general partnerships. Courts may intervene in dissolution or winding-up processes if necessary.

Read a detailed Article on this subject with the Legislation and Cases, browse Irish Legal Guide  or Contact Us for advice below.