General regulations to incorporate a Partnerships in Commendam
- A company that consists of one or more partners who are joint and liable with one or more partners who own money and not taking part in management and named commanditaire, this type of company consists of two types of partners:
- Commandites, such as the joint partners in the Joint Liability Company
- Commanditaire, their liability is determined according to their shares in the capital, they have no right to manage the company or to be liable toward the company’s commitments that exceeds their shares in the capital, they cannot perform any act concerning the management aspect.
- Minimum capital of Partnerships in Commendam is L.E.300000, except services activities which fully operate inside Industrial Parks and urban cities the minimum capital shall be L.E.30000.
- Foreigners can be partners (%100) – except activities limited to Egyptians .
- Commandites provides a share in the capital and contributes in investing money in the company through contribution in the management as well. While commanditaire provides a share in the capital and does not take part in management, interrogates the Commandites about the debt due to their personal and joint liability toward the company unlike Commanditaire who has limited liability toward debt which equals their share.
- The address of the company consists of names of the Commandites or one of them in addition to including the word (partners or partner) as per each case, the name of a Commanditaire should not be included in the company’s address.
- The management of company is the responsibility of the Commandites or one of them, Commandites cannot be involved in the management even though holds a Power of Attorney.