Open Limited Partnership (LP) In Georgia

Open Limited Partnership In Georgia: A limited partnership is a company where several persons carry out entrepreneurial activity under one common company name, where the liability of one or several partners to creditors of the partnership is limited to the payment of a fixed-guarantee amount – limited partners (komandits) and the liability of other partners is not limited – general partners (komplementars).

• Right of control of Limited partners’ (komandits’)
  Limited partners (komandits) may demand a copy of the annual report and check its correctness according to the financial books and records of the company.
  If material grounds exist, a court may, on application of one of the limited partners (komandits), demand the presentation of the balance sheet, annual report, other similar information and the financial books and records of the company at any time.
  A partner of a limited partnership may be a natural as well as a legal person. Shares in the capital of the company may be apportioned only among the komandits, unless otherwise provided for by the partners’ agreement.
• General partners (komplementars) shall be jointly and severally liable to creditors with all their assets. Together with the rules stated in the general provisions of this Law, the rules for the general partnership shall apply in respect of a limited partnership, unless otherwise provided for by this Chapter.
  Under the legislation of Georgia, only general partners (komplementars) may approve the charter of a limited partnership and make changes in it and in the registration records.

The guarantee amount of a limited partner (komandit) in respect to the creditors of the company shall be determined according to the amount fixed in the Charter if the amount has already been paid.

Open Limited Partnership (LP) In Georgia is simple

Team of Company Formation Georgia can give you detailed information about all the steps required for opening a Limited Partnership in Georgia and all the legal requirements this type of company needs to fulfill.