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PAIiIZ
Marka Polskiej Gospodarki

Limited Partnership



Purpose

Established for the purpose of conducting business under its own business name.

Founders

Must be established and conducted by at least two individuals or legal persons or organisational units without legal personality which was granted a legal capacity on the basis of a specified act (for example partnerships).

Minimum capital

N/A

Legal personality

None. Personal partnership. Limited partnership possess a legal capacity and may in its own name acquire rights, including ownership of immovable property and other rights in rem, incur obligations, sue and be sued.

Liability

At least one partner is liable to the creditors for the debts and obligations of the partnership without limitation (the general partner) and at least one partner has a limited liability. However, if a business name of a limited partnership includes a  name or a business  name of a limited partner, this partner is liable for obligations of a partnership without any limitation. In the same way is liable limited partner performing an act in law in the name of partnership without disclosing his power of attorney or when he acts without authorization or beyond the scope of authorization.

Taxation

PIT Declaration - Personal Income Tax, or CIT - Corporate Income Tax; each of the partners is paying taxes separately.

Establishment process

The statutes of the partnership should be executed in a notarised form and signed by all general partners, whereupon the partnership should be entered into the National Court Register (Krajowy Rejestr Sądowy).

Additional requirements for foreign investors

N/A

Representation of a partnership 

A partnership shall be represented by the general partners who were not deprived of the right to represent the partnership under the partnership deed or by valid court decision. A limited partner may represent the partnership only in the capacity of attorney. Partnership may be also represented by a proxy.



 
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