At least two parties must come together or, according to the law, jointly and separately undertake to pursue a common object respectively in order to form a limited partnership.
The founding members of the limited partnership can be natural persons or legal entities. Natural persons must have reached the age of 18 (Article 127, Greek Civil Code, modified by Article 3 of Law N. 1329/83). Minors are only permitted to invest in formation of a limited partnership with the approval of a court.
- Key features of the limited partnership (E.E.) in Greece:
- No statutorily prescribed (minimum) capital requirement
- Differentiation according to general and limited partners
- General partners bear joint and several unlimited liability for the company’s liabilities; limited partners’ liability is limited to the sum they have invested in the company.
- The limited partnership (E.E.) can be formed without being documented by a notary/mandatory representation by lawyers on the basis of a civil law agreement.