Limited Partnership Registration

Limited Partnership (LP) Registration

₦35,000.00

Register Your Limited Partnership (LP) in Nigeria with SplashDict

By registering your Limited Partnership with CAC, you secure legal recognition, enhance your business’s credibility, and gain access to essential resources like a business bank account.

  • Limited Partnership (LP) Registration with CAC.
  • CAC Filing Fees included.
  • Tax Identification Number (TIN) included.
  • Receive Certificate of LP Registration.
  • Receive CAC Status Report.
  • Receive approved Partnership Deed. 
  • Processing Time: 3 to 7 business days turnaround.

 

Key Features of Limited Partnership (LP)

  • Legal Recognition: Registration with the Corporate Affairs Commission (CAC) formalizes the partnership, providing a legal framework for operations and contracts.

  • Hybrid Business Structure: An LP combines elements of both general partnerships and corporations, providing flexibility and varied liability for partners.

  • Dual Partner Roles: A Limited Partnership consists of at least one General Partner and one Limited Partner.

    General Partners manage the business and assume full liability, while Limited Partners invest capital and have liability limited to their investment. There is a maximum limit of 20 partners in an LP.

  • Active Management by General Partners: General Partners oversee daily operations and decision-making, bearing full legal and financial liability for the partnership's obligations.

  • Liability: General partners have unlimited liability and are responsible for the debts and obligations of the LP.

    Limited partners' liability is restricted to their capital contribution unless they participate in management.

  • Annual Compliance Requirement: Limited Partnerships must maintain annual returns and adhere to regulations stipulated by the CAC to retain their legal status.

  • Taxation: Taxes for LPs are based on personal income rather than being treated as separate corporate taxes.

Requirements for Limited Partnership (LP) Registration

Here are the requirements for registering an LP with the CAC:

  • Proposed Business Names: At least two (2) options (1st choice and alternative).

  • Partners: An LP must have at least two partners: one general partner and one limited partner. Maximum of 20. 

  • Capital Contributions: The amount each partner will contribute to the partnership.

  • Business Objectives: Description of the nature and objectives of the business.

  • Partners' Details: Provide full names, addresses, occupations, and means of identification for all partners.

  • Business Address: Proposed business address (can be a home address or a separate business location).

  • Partnership Agreement: A draft agreement outlining the partners' rights, duties, and responsibilities. 

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Benefits of Limited Partnership (LP) Registration

  • Legal Recognition: Registering your Limited Partnership with the CAC gives your business formal recognition, enabling it to operate legally and enter contracts.

  • Exclusive Rights to the Name: Registration ensures that your chosen business name is uniquely yours, preventing others from using it for their operations.

  • Limited Liability Protection: Limited Partners enjoy liability protection, ensuring their personal assets are not at risk beyond their agreed investment in the partnership.

  • Credibility and Trust: A registered Limited Partnership increases your business's credibility with clients, suppliers, and financial institutions, paving the way for better opportunities.

  • Access to Certain Services: Some services may require a registered business certificate and TIN, such as opening a business bank account or obtaining certain licenses.

  • Flexible Investment Structure: Limited Partnerships allow individuals to contribute as passive investors, making it easier to attract financial support without giving up management control.

Partnership Registration Service

Register your Limited Partnership (LP) Business in Nigeria

Here's how SplashDict's team of CAC-accredited consultants can help:

  • LP Registration: Nigerian Limited Partnership (LP) Registration with the CAC.

  • Documentation: We handle all required registration documents.

  • Transparent Pricing: CAC registration and Filing fees are included with no hidden charges.

  • Tax Identification Number (TIN): Issued upon incorporation.

  • Quick Turnaround: Receive Certificate of Registration, Partnership Deed, and Status Report within 3-7 business days.

  • Continuous Support: We assist with future compliance and statutory needs.

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