Limited Partnership Registration

Limited Partnership (LP) Registration

₦35,000.00

Incorporate Your Nigerian Limited Partnership (LP) Business 

A Limited Partnership (LP) is a partnership consisting of a minimum of two partners (maximum of 20), with at least one general partner and one limited partner. An LP does not have a separate legal entity from the partners, i.e. it cannot sue or be sued or own property in its name.

The general partners bring the required business skills, managing the business and making decisions to ensure its success. The limited partners invest in the business but are not responsible for managing it. An individual or a business could be a general or limited partner in an organization.

The liabilities of the partners depend on the management control they exercise. The general partners have unlimited liability for business debts and obligations while limited partners have a liability limited only to the amount they invested in the business. The general partners are responsible for their own actions and business decisions as well as those of other general partners.

Real estate investors, hedge funds, investment partnerships, and other businesses commonly employ this company structure.

Upon completing the order, you'll be redirected to submit your information to process your registration.

  • Compare Our Packages

    Compare our Limited Liability Partnership (LLP) Formation Packages:

    Standard Package
    Pro Package

    LP Registration (Standard Package)

    Our Standard package is a cost-effective solution to get your company up and running with all the essential formation documents.

    Includes:

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

    • CAC Filing Fees Included: All registration costs are covered, with no extra charges.
    • Digital Delivery of Incorporation Documents: Certificate of Registration, approved Partnership Agreement, and Status Report.
    • Tax Identification Number (TIN): Issued upon incorporation.
    • Delivery Time: 3 to 7 business days.
    • Support: 24/7 access to online customer support.

    LP Registration (Pro Package)

    The Pro package offers comprehensive services, providing advanced incorporation features and ongoing support.

    Includes Everything in the Standard Plan, Plus:

    • 1-Year Company Secretarial Support: Ongoing assistance with statutory requirements and filings.
    • Company Seal: A physical seal for authenticating official documents.
    • Printed Documents: Hard copies of all registration documents.
    • VAT Registration: Our experts will register your company for VAT if required.
    • Bank Account Setup Assistance: Support with opening Nigerian business bank accounts.
    • Priority Customer Support: Faster response times and personalized assistance.

    Select Your Package

    Choose from our two company incorporation packages:

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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 Preparation: Our experts handle all necessary registration documents.

  • Business Name Search and Reservation: We check availability and secure your desired LP name.

  • Submission and Processing: We ensure all requirements are met and manage the submission process for efficient processing by the CAC.

  • CAC Filing Fee Included: No hidden costs, everything is included in the package price.

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

  • Delivery of documents: Upon registration, we provide Documents including - the Certificate of Registration, Approved Partnership Agreement, and Status Report.

  • Secretarial Support: Ongoing assistance with statutory requirements and filings.

Let's Get Started

Our Process

Experience a hassle-free registration process with SPlashDict:

Choose a Package

Select a package, add to cart, and complete secure online payment.

Provide Information

Fill out our simple online form with your business details.

We Process Your Application

We'll prepare and file the necessary documents with the CAC.

Receive Documents

Get your completed business entity package.

Features of Limited Partnership (LP) Business

How does a Limited Partnership (LP) Work?

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

  • Two Types of Partners: An LP includes both general partners, who manage the business and have unlimited liability, and limited partners, who contribute capital and have liability limited to their investment.

  • Separate Legal Entity: An LP is not a separate legal entity from its partners, meaning it cannot own property or sue and be sued in its name; these actions are taken on behalf of the LP by the partners.

  • Unlimited and Limited 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.

  • Number of Partners: An LP must have at least two partners: one general partner and one limited partner. There is a maximum limit of 20 partners in an LP.

  • Perpetual Succession: An LP does not have perpetual succession. The partnership may dissolve upon the death, withdrawal, or insolvency of a general partner unless otherwise specified in the partnership agreement.

  • Taxation: The LP itself does not pay federal income taxes. Instead, profits and losses are passed through to the partners, who report them on their individual tax returns.

Full Partnership Registration Services

Requirements for Registering a Limited Partnership (LP) in Nigeria

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. 

Limited Partnership Registration Package

Find the best LP package to start your Business:

LP Registration (Standard)

₦35,000

  • Nigerian Nigerian Limited Liability Partnership (LLP) Registration with the CAC.

  • CAC Filing Fees Included: All registration costs are covered, with no extra charges.

  • Digital Delivery of Incorporation Documents: Certificate of Registration, approved Partnership Agreement, and Status Report.

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

  • Delivery Time: 3 to 7 business days.

  • Support: 24/7 access to online customer support.

Select Package

LP Registration (Pro)

₦100,000

Includes Everything in the Standard Plan, Plus:

  • 1-Year Company Secretarial Support: Ongoing assistance with statutory requirements and filings.
  • Business Seal: A physical seal for authenticating official documents.
  • Printed Documents: Hard copies of all registration documents.
  • VAT Registration: Our experts will register your company for VAT if required.
  • Bank Account Setup Assistance: Support with opening Nigerian business bank accounts.
  • Priority Customer Support: Faster response times and personalized assistance.
Select Package

Benefits of Limited Partnership Business

LPs have several advantages that make them popular:

  • Enhanced Credibility: Registration of LLP status demonstrates a commitment to professionalism and legitimacy.

  • Limited Liability for Limited Partners: Limited partners' risk is confined to their investment, protecting their assets from the partnership's debts and obligations.

  • Management Flexibility: General partners have full control over the business operations, allowing for clear decision-making and management.

  • Attracting Passive Investors: The limited liability aspect is attractive to passive investors who wish to contribute capital without involvement in day-to-day management.

  • Attractive for Specific Projects: LPs are often used for real estate investments, film production, and other projects where a clear distinction between investors and managers is beneficial.

  • Exclusive Business Name Use: Protects the business name from being used by others.

  • Enhanced Credibility: Registration of LLP status demonstrates a commitment to professionalism and legitimacy.

  • Reduced Personal Risk: Partners are shielded from personal liability for the LLP’s debts, safeguarding personal assets from business liabilities.

  • Pass-Through Taxation: The LLP itself is not taxed. Instead, profits and losses are passed through to the partners, who report them on their tax returns, potentially avoiding double taxation.

  • Business Continuity: The LLP remains unaffected by the exit or death of a partner, ensuring uninterrupted operations.

  • Transferable Ownership: Partnership interests in an LLP can be transferred, subject to the terms of the LLP agreement.

  • No Minimum Capital Requirement: There is no mandatory minimum capital for starting an LLP.

  • Ease of Expansion: New partners can easily be added to the LLP without disrupting the existing business structure or requiring complex processes.

  • Improved Credibility for Financing: LLPs are seen as more formal and reliable than traditional partnerships, making it easier to secure loans and attract investors.

  • Attractive for Strategic Partnerships: LLPs facilitate collaboration between professionals or businesses, allowing them to pool expertise and resources while limiting their liabilities.

  • Exclusive Business Name Use: Protects the business name from being used by others.

Register Your LLP

Why Choose SplashDict for CAC LP Registration?

We streamline your Limited Partnership registration process with efficient service.

Expert Team

Our team of Chartered Secretaries ensures seamless business setup.

CAC-Accredited Agents

Our team of CAC-accredited agents ensures seamless and compliant registration.

Transparent Pricing

Clear and upfront pricing with no hidden fees.

Fast & Efficient

Experience fast and easy registration with our streamlined online platform.

Secure & Reliable

Robust security measures protecting your data and documents.

Dedicated Support

Receive continuous support from our team throughout and beyond the registration process.

FAQs

Frequently asked questions about Limited Partnership (LP) Registration in Nigeria:

A Limited Partnership (LP) is a business structure comprising at least two partners: one general partner and one or more limited partners. The general partner manages the business and has unlimited personal liability, while the limited partners have limited liability restricted to their investment.

In an LP, limited partners have restricted liability (usually up to their investment amount) and aren't involved in day-to-day management.

In a General Partnership, all partners have unlimited liability and can participate in management

LP: In an LP, only limited partners have limited liability, while general partners have unlimited liability. LPs do not have a separate legal entity from their partners.

LLP: In an LLP, all partners have limited liability, and the partnership is a separate legal entity from its partners.

Advantages include:

  • Limited liability for limited partners
  • Pass-through taxation
  • Flexibility in management structure
  • Ability to attract investors without giving up control

LPs are typically subject to pass-through taxation, meaning the partnership doesn't pay taxes. Instead, profits and losses are passed through to the partners, who report them on their tax returns.

Yes, both general and limited partners in an LP can be individuals or corporate entities.

A Limited Partnership can be formed by at least one general partner and one limited partner. There is usually a maximum limit of 20 partners, as stipulated in the Nigerian Companies and Allied Matters Act (CAMA) 2020.

The general partner is responsible for managing the business and making day-to-day decisions. They have unlimited personal liability for the debts and obligations of the LP.

Limited partners contribute capital to the business but do not participate in its management. Their liability is limited to their investment unless they engage in management activities.

It usually takes 3-14 business days for the Limited Liability Partnership (LLP) Registration in Nigeria.

Name Search: 6 - 24 hours from submission.
Grant of Certificate of Registration: 2 - 10 Days from filing.
Total time: Approximately 3 - 14 days.

No, in Nigeria, an LP is not considered a separate legal entity from its partners. Actions are taken on behalf of the LP by its partners.

No, there is no minimum capital requirement for forming an LP in Nigeria.

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