A limited partnership, especially one where an LLC is a general partner, is very helpful when planning a business. We make it available for every partner in a limited partnership, to file taxes individually, which makes it possible to avoid double taxation, when it comes to income tax.
Aside from that, a general partner has to fulfil their obligations to creditors only up to the amount of the LLC’s share capital. The structure of a limited partnership is not new in Polish economic law, but as the years pass, conducting business activity within this legal form is gaining more and more popularity.
Important factors in favour of conducting business as a limited partnership are: the possibility to pay advance payments against future profits during the financial year, partners being allowed to settle profits and losses of the partnership together with the profits and losses from other business ventures, and no minimal capital needed.
