Partners and the Liability of the Partners

There must be at least two partners to form a general or limited partnership. A partner can also e.g. be another company. At least one of the partners must have his/her place of residence or in the case of a company, its registered place of business, within the European Economic Area.

In a limited partnership, there must be at least one general partner and one silent partner. General partners differ from the silent partners in that they are personally liable for the partnership’s liabilities, whereas the liability of the silent partners is limited to the assets they have invested in the partnership. The position of the general partners of a limited partnership corresponds to that of the partners in a general partnership. The position of the silent partners is similar to the position of a founder of a limited liability company, as they do not carry any risk of losing their personal property even if the partnership were to go bankrupt.