Limited liability partnership (“sociedad de responsabilidad limitada”)

A limited liability partnership is similar to a general partnership, but with a key difference: the personal liability of each partner is limited to the amount of capital they contributed or to a greater amount specified in the partnership agreement.

The partnership is formed through a public deed, which must include the required information for a partnership agreement and a statement specifying the limited liability of the partners.

The name of the partnership must include the name of one or more partners or a reference to the partnership's purpose and must end with the word "Limited."

If the name does not meet these requirements, the partners will be personally liable for all the partnership's obligations.

Like a corporation, an extract of the partnership agreement must be filed with the Commercial Registry of the Real Estate Custodian and published on the website of the Official Gazette within sixty days of the partnership's formation.