Nigerian Partnership Registration Service
With the expert team at SplashDict, CAC Partnership Registration process is quick, easy, and can be conducted entirely online in a few minutes.
SPLASHDICT
CAC Registration Support for Limited Partnership (LP) and Limited Liability Partnership (LLP)
A partnership is a business structure where two or more individuals or entities collaborate to run a company or business. Partnerships in Nigeria come in three forms: General Partnership (GP) Business Name, Limited Partnership (LP), and Limited Liability Partnership (LLP). Each structure offers unique benefits and liabilities, catering to different business needs.
In a Limited Partnership (LP), there are two categories of partners: general partners, who bear unlimited liability, and limited partners, whose liability is restricted to their investment in the partnership. On the other hand, a Limited Liability Partnership (LLP) ensures that all partners enjoy limited liability, protecting personal assets while enabling shared decision-making and responsibilities.
One of the key advantages of partnerships is their ability to pool resources, expertise, and capital, fostering faster growth and shared success.
SplashDict simplifies partnership registration in Nigeria with a fully digital process, allowing you to register from anywhere. Our CAC-accredited Chartered Secretaries ensure accuracy, efficiency, and transparency throughout.
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Our Process
Limited Partnership (LP) Registration
The general partnership as a legal form is a commercial enterprise run by several personally liable partners. The owners of a general partnership can be individuals or corporations—or both.
A general partnership has no legal personality of its own and is therefore not a legal person. On the other hand, it may be represented under its name in business dealings and acquire rights, and contract obligations or represent a party in deals, bring proceedings, or be prosecuted.
Key Features:
- Owned by two or more individuals who share profits and losses.
- Partners are personally liable for the partnership's debts.
- Requires a partnership deed to outline the terms of the agreement.
Limited Liability Partnership (LLP) Registration
A Limited Liability Partnership (LLP) is a flexible business structure that combines the advantages of a traditional partnership with the liability protection of a company.
In an LLP, partners enjoy limited liability, meaning their assets are shielded from the business’s debts and obligations, protecting them in case of financial difficulties. This structure is ideal for businesses looking to share management and profits while minimizing risk.
In Nigeria, an LLP allows for unlimited partners, whether individuals or corporate entities, with each partner’s liability limited to their capital contribution, protecting personal assets from business obligations.
Key Features:
- Offers limited liability to all partners.
- Often used for professional firms, such as law firms and accounting firms.
Comparison of Limited Partnership (LP) and Limited Liability Partnership (LLP)
| Feature | Limited Partnership (LP) | Limited Liability Partnership (LLP) |
|---|---|---|
| Definition | A partnership with at least one general partner and one limited partner. | A formal partnership that provides limited liability protection to all partners. |
| Liability | General partners have unlimited liability; limited partners have liability limited to their investment. | All partners have limited liability, protecting personal assets from business debts. |
| Management | General partners manage the business; limited partners do not participate in management. | All partners can participate in management without risking personal liability. |
| Number of Partners | Maximum of 20 partners. | There is no maximum limit on the number of partners. |
| Use Cases | Venture capital firms, real estate investments, and professional partnerships. | Professional firms, technology startups, and businesses seeking limited liability. |
| Taxation | Pass-through taxation; income is taxed at individual partner levels. | Pass-through taxation; income is taxed at individual partner levels. |
| Existence | Limited partners can withdraw without dissolving the partnership, but general partners’ withdrawal may dissolve it. | Continues to exist despite changes in partnership structure or membership. |
| Public Disclosure | Limited public disclosure; generally requires filing with CAC for certain documents. | Must file annual returns and maintain public records, including financial statements. |
REGISTER LP | REGISTER LLP |
Benefits of CAC Partnership Registration
Post-Registration Service for Limited Liability Partnerships (LLP)
Ensuring your Limited Liability Partnership (LLP) complies with CAC regulations is critical for maintaining its legal standing, operational efficiency, and credibility.
Whether it's updating partner details, filing annual returns, restructuring the partnership, or obtaining necessary documents, our specialized services cater to the unique needs of LLPs.
Post-Registration Service for Limited Partnerships (LP)
We provide reliable Post-Registration services tailored for Limited Partnerships, helping you navigate regulatory requirements so you can focus on achieving your business goals.
Whether you need to update partnership details, file annual returns, amend the partnership agreement, or obtain certifications, our CAC-accredited professionals ensure your records remain accurate and compliant.
