Limited Partnerships
Thailand

Limited Partnerships in Thailand

Limited Partnerships in Thailand


Limited Partnerships in Thailand exist when where there are one or more partners whose liability is limited to such amount as they may respectively undertake to contribute to the partnership, as well as one or more partners who are jointly and unlimitedly liable for all the obligations of the partnership.

Limited Partnerships in Thailand are required to be registered and are considered to be a legal entities. Only the unlimited partner, is able to act as a managing partner. Therefore, if a partner whose liability is limited interferes with the business, they will become the unlimited partner and so will their liability shift to unlimited.

Characteristics


  • Requires registration
  • One or more partners whose liability is limited.
  • One or more partners who are jointly and unlimitedly liable
  • The unlimitedly liable partner is also the managing partner

Dissolution & Liquidation


Liquidation of a Limited Partnership is a little complex and requires the services of a lawyer specializing in Limited Partnerships. Section V subsections Section 1247 though to 1274 cover most of the requirements. Here is a quote; "The liquidation of a bankrupt registered partnership, or limited partnership shall be made, as far as practicable, in accordance with the provisions of the Thai Law of Bankruptcy".

Limited Partnerships Must Be Registered


The process to register a Limited Partnership is very similar to the process required to register an Ordinary Partnership..

  1. An application for registration shall be submitted to the District Registration Office (in accordance with the location of the partnership's main office)
  2. The applicant (managing partner) shall pay the relevant government fees.
  3. The application prepared and submitted by the managing partner shall include all necessary data and documents and shall conform to the applicable laws.

For more information on partnerships in Thailand or more information on limited partnerships

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