Isle of Man: Types of Company
This page was last updated on 11 January 2020.
Limited partnerships are governed by the Partnership Act 1909 and the UK Limited Partnership Act 1907. They must be registered as such or they may be deemed to be general partnerships. Partners may be individuals or companies. A limited partnership consists of one or more general partners with unlimited liability, and one or more limited partners, who are liable only to the extent of their capital contributions. A limited partner does not take part in the management of the partnership and is not entitled to dissolve the partnership by notice. In general, limited partnerships may have up to 20 partners, though in banking the maximum number of partners is ten.