Partnerships Limited By

In this article I will inform you about the amendment of Law 144 (I)/2015, which introduced the partnership limited by shares. The new legislation came into force in 2015. As a result of this particular legislation, Cyprus is now in line with other EU member-states, including the UK, Poland and Luxembourg. In addition, the introduction of partnerships limited by shares is expected to create new business and investment opportunities and consequently urge business people and investors coming from different EU member-states to invest and develop their business plans in the Republic of Cyprus. Generally speaking, the partnership limited by shares is regulated by the Partnership and Business Names Law, Cap. 116. According to Cap. 116 there are the following two types of partnership: The General Partnership, in which each partner is liable jointly and individually with all the other partners for an unlimited amount of debts and any other financial obligations of the Partnership. It should be pointed out that a limited liability company or other partnership can be a partner. Precisely, the Partners of a Partnership can be merely limited liability companies, or only Partnerships or both. LeZdlD8g
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