The limited Partnership (Kommanditgesellschaft, KG)
This is basically a partnership but provides a limitation of liability on behalf of some of the partners. A KG bears two kinds of partners: 1) the general partner (Komplementär), who has an unlimited liability extending to his or her personal assets, and 2) the limited partner (Kommanditist) whose liability extends only to his or her nominal holdings in the company.
Overview
| Liability | The general partners are unlimitedly, personally and jointly liable for the partnership?s liabilities. The Limited Partners are only liable with their capital contributed to the company. |
| Statutory capital | Not required |
| Corporate bodies | Only the General Partners are entitled to represent the company. TheLimited Partnership is no corporate entity. |
| Financial Statements | The partners represent the company. General Partnership is no corporate entity. |
| Income taxation | EBIT - Trade tax on income of 12% - 21% income tax (only for individuals). No dividend withholding tax. |
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