Price: £190.00
A Limited Partnership Formation is a type of partnership which is registered with the Limited Partnership Act 1907. This type of partnership requires 2 or more people, at least 1 person to act as the General Partner who has management authority and personal liability, and at least 1 person to act as the Limited Partner who is an investor and has no management authority. The General and Limited Partners must enter into the Limited Partnership by either oral or written agreement.
Why choose a Limited Partnership Registration?
- A Limited Partnership’s income is not taxed at the business level. Instead, business profit and loss are passed through to the partners for reporting on their personal tax returns
- The liability for debts that cannot be paid in a Limited Partnership is split among the partners within the company
- Limited Partnerships can generate capital investments by adding more limited partners
The Partner’s responsibilities differ as:
General Partner:
- Responsible for managing the business
- Make permanent decisions within the company
- Liable for the debts the business cannot pay
Limited Partner:
- Only liable for debts up to the amount contributed
- Cannot manage the business
- Investor of the Limited Partnership
Timescale
On average it takes around 5 working days to register a Limited Partnership
Requirements for a Limited Partnership Formation
To register a Limited Partnership, you will be required to supply the following:
- The company name including the name ending of either ‘Limited Partnership’ or ‘LP’
- Nature of Business
- The Business Address (must be located within the UK, we can supply an address if required)
- Details of how long the Partnership will be registered for
- Full Name of General Partners
- Full Name of Limited Partners
- Amount that each Limited Partner is contributing
- Cannot be incorporated electronically it must be processed by paper
Once all the relevant information has been supplied Companies House will issue a Certificate of Incorporation which will confirm that your company has been registered on the Register of Companies.
- Those registering Limited Partnerships must demonstrate that they are registered with an official anti-money laundering supervised agent, such as an accountant, lawyer, or an overseas equivalent
- The Limited Partnership must demonstrate an ongoing link to the UK, for example by keeping its principal place of business in the UK
- All Limited Partnerships must submit a Confirmation Statement at least every 12 months to Companies House to ensure their information is accurate and up to date
- Companies House will be given powers to strike off dissolved Limited Partnerships and Limited Partnerships which are not carrying on business
Due Diligence Requirements for a UK Company
To comply with the new Economic Crime and Corporate Transparency Act 2023 (ECCTA), CFS Formations is required to carry out Due Diligence checks on company officers.
For all Directors / PSC’s who have not been verified, CFS Formations are registered as an ACSP (Authorised Corporate Service Provider) and work in partnership with Companies House to complete this identity verification on their behalf.
Once your order has been placed, we will provide a verification link for the required officers to complete SumSub, which includes:
- Uploading a valid ID document (Passport OR UK/EU Driving Licence/ID Card)
- Providing a proof of address document (e.g., bank statement or utility bill dated within the last 3 months)
- Completing a short liveness check (similar to taking a selfie)
Once completed, the individual will then be issued with a unique code from Companies House, which can be used for future company formations and/or filings.
Private Fund Limited Partnership:
We also offer Private Fund Limited Partnership Formations. Please contact us if you require more information or wish to proceed.
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