A limited partnership must have at least one general partner and one limited partner. The general partner, as in a general partnership, has unlimited liability for the obligations of the partnership. The liability of a limited partner is limited to the sum invested in the partnership. The limited partner may not participate in the management of the partnership and does not have the power to bind the partnership. In addition, a limited partner may not, while the limited partnership is in existence, draw on or receive back, either directly or indirectly, any part of his investment in the partnership. Violation of this principle may make him liable for the obligations of the limited partnership up to the amount so withdrawn.

 Israel Limited Liability Partnership Key Features

  1. A limited partnership must have at least one general partner and one limited partner.
  2. The general partner, as in a general partnership, has unlimited liability for the obligations of the partnership.
  3. The liability of a limited partner is limited to the sum invested in the partnership.
  4. The limited partner may not participate in the management of the partnership and does not have the power to bind the partnership.
  5. A limited partner may not, while the limited partnership is in existence, draw on or receive back, either directly or indirectly, any part of his investment in the partnership.

Israel Limited Liability Partnership Legal Requirements

Israel LLP

Corporate Details

General

  • Type of Entity

Limited Partnership (LP)

  • Registered Office in Israel

Yes

Share capital or equivalent

  • Minimum paid up

No minimum

  • Usual authorized

USD $50,000

Directors | Officers | Partners

  • Minimum number

2

  • Local required

Yes (1 general partner/director)

  • Publicly accessible records

Yes (although limited partner details are confidential)

  • Location of meetings

No

  • Corporate directorship allowed

Yes

Company Secretary

  • Required

No

  • Local or qualified

N/A

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

No

  • Requirements to file accounts

Yes

  • Publicly accessible accounts

Yes

 Israel Limited Liability Partnership Tax Treatment

Israel Limited Liability Partnerships are tax exempt

Israel Limited Liability Partnership

Duration of Set-up

2 Week

Israel Limited Liability Partnership Distinctive Benefits

  • Israel Limited Liability Partnerships are tax exempt.
  • The liability of a limited partner is limited to the sum invested in the partnership.
  • The general partner, as in a general partnership, has unlimited liability for the obligations of the partnership.

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