Limited Registered Partnerships
In a Limited Partnership there are two different classes of Partners, each class with different rights and liabilites. A Limited Partnership needs to have one or more Partners who are jointly and unlimitedly liable for all obligations the partnership might incur. This class of Partners is called General Partners. Jointly means each Partner is liable for all Partner’s wrong doings. Unlimitedly means that Partners are also liable with their private wealth. Only General Partners might act as Directors of a Limited Liability Partnership.
The second class of Partners is called Limited Partner. A Limited Liability Partnership needs to have one or more Limited Partners who’s liability is limited to the amount of capital contributed to the Partnership.
Since a Limited Liability Partnership is a Juristic Person, it needs to be registered with the Commercial Registrar. The appointed Managing Partner is responsible for registering the Partnership in the province where the head office of the Partnership will be located at. Registering a Limited Partnership costs 1,000 Thai Bath for every 100,000 Thai Bath of registered capital with a minimum fee of 1,000 Thai Bath and a maximum fee of 5,000 Thai Bath.
For tax purposes, Limited Partnerships are taxed as corporate entities.