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Limited Partnership Agreement (Ontario)
NextGen Docs form ND-1124. Search ND-1124 on docs.ngz.ca to make this document again.
A general partner runs the business; limited partners invest and risk only what they put in. Includes the declaration filing steps.
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What you will fill in
- Name of the limited partnership
- General partner: name and address
- Limited partners and what each puts in
- What does the general partner put in?
- What will the partnership do?
- Main business address in Ontario
- How are profits and losses shared?
- How many years will the partnership last?
- Date of this agreement
Good to know
- The limited partnership only exists once the general partner files a declaration with the Ontario Business Registry (ontario.ca/businessregistry). Pay the fee shown there. The declaration must be renewed every 5 years.
- A limited partner who takes part in running the business can lose limited liability (Limited Partnerships Act, s. 13). Limited partners can vote on big matters listed in the agreement, but should not manage day to day.
- The partnership may have to file a T5013 partnership information return with CRA each year. Ask an accountant.
Help in your language
Every question comes with help like this. For example, “Name of the limited partnership”:
English: For example: Maple Ridge Rentals Limited Partnership.
اردو: شراکت کا نام۔
ਪੰਜਾਬੀ: ਭਾਈਵਾਲੀ ਦਾ ਨਾਮ।
हिन्दी: साझेदारी का नाम।
Français: Par exemple : Maple Ridge Rentals Limited Partnership.
Questions people ask
How much does the Limited Partnership Agreement cost?
It is free to fill in and preview. To download it, buy just this one for $2.99 or use a plan (Monthly $9.99, or Yearly $79); new accounts get 7 days free with no card needed.
Can I fill in the Limited Partnership Agreement in Urdu, Punjabi, Hindi or French?
Yes. The finished document is in English, but every question has plain help in English, Urdu, Punjabi, Hindi and French, and you can speak your answers.
Do I need a lawyer?
Many people use this document on their own. If your situation is complicated, or a lot of money or your home is involved, talk to a lawyer or licensed paralegal. In Ontario, the Law Society Referral Service (findlegalhelp.ca) gives a free 30-minute consultation.
Is my information private?
Only you can see your answers. They are saved on your device, and in your own account if you sign in, so you can finish on another device. NextGen Docs is not a law firm and does not give legal advice.