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A
limited partnership
(Sociedade Em Comandita)
takes various forms in Portugal depending upon how the
capital is represented. In addition to this there are
two types of partner - sleeping or dormant partners
(Sócios Comanditários) and full partners (Sócios
Comanditados).
A
sleeping partner has limited liability, limited to the
total of their share equity whereas a full partner are
liable without limit for the company's debts.
A
partnership by shares (Sociedades
em Comandita por Acções) requires a
minimum of six partners and the capital of the
partnership is in the form of share. At least one of the
partners must be a full partner.
A simple
partnership (Sociedades
em Comandita Simples) is when the
capital of the company is not represented by shares. A
simple partnership requires at least two partners with
at least one full partner.
In
addition to this there are general partnerships (Sociedade
em Nome Collectivo SNC). This type of
partnership is based on mutual trust. Partners within
this type of partnership have joint liability for the
company's debts. |
