Refer to the Civil and Commercial Code of Thailand, the established partnership is happened from a contract between two or more persons who agree to engage the business and share a benefit and loss together.

For the limited partnership, it is an ordinary partnership that was registered with the Department of Business Development for limitation of liability of each partner except the managing partner who has to take all responsibility of partnership as his/her personally.

The difference between Ordinary & Limited

  Ordinary Limited
Agreement between partners Required Required
Registration of partner with authority Not required Required
Number of partners 2 or more 2 or more
Limited liability of partner Not permitted Permitted
Managing partner Not required Required