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Economic Development Dortmund
Limited Partnership
(„Kommanditgesellschaft – KG“)
The limited partnership is a business partnership consisting of one or
more personally liable general partners (= ”Komplementäre”)
and at least one partner whose liability is limited to his capital contribution
(limited partner - “Kommanditist”).
Limited partners generally are excluded from the management and are not
entitled to represent the company. Nevertheless, they may get procuration.
The general partner has certain rights to inspect the annual balance sheet,
accounts, and papers. According to the German Commercial Code ("HGB"),
he or she is not allowed to inspect the limited partnership's businesses
continuously.
The partnership is listed on the Register of Companies, the entry has
to contain the liability coverage of the limited partner.
The foundation of a limited partnership results from the conclusion of
a partnership agreement. The name of the limited partnership must refer
to the legal form, e.g. “Müller Services Limited Partnership”
(“Müller Dienstleistungs KG”).
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Limited liability
company
General partnership