Ontario Limited Partnership
These are special types of partnerships that consists of at least one general partner and one or more limited partners. Subject to the Limited Partnerships Act, general partners have unlimited liability, while limited partners have limited liability up to the amount they contribute or agree to contribute to the limited partnership.
New, Change, Renew & Cancel
To form a limited partnership in Ontario, a declaration must be filed under the Limited Partnerships Act (LPA). If a limited partnership that was formed outside Ontario wishes to carry on business in Ontario, it must also file a declaration under the LPA.
Limited partnerships are not incorporated and are subject to the LPA and other applicable laws. They typically consist of at least one general partner who has liability for all debts and obligations of the firm, and one or more limited partners who have limited liability up to the amount that they contribute or agree to contribute to the limited partnership.
The registration is valid for 5 years and must be renewed. Late renewals are subject to a $150 penalty fee. BIN number is required when renewing.
*BIN – Business Identification Number
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Filing & Government Fees
|Limited Partnership Registration||Filing Fees||Government Fee||Processing Time|
|New, Name Change or Renewal||$95||$210||same day|
|Amendments (other than name change)||$95||$0||same day|
|Late Renewal*||$95||$210 + $150 = $360||same day|
|Dissolution or Withdrawel||$95||$0||same day|
|*Administration fees apply to government fees when paying by credit card and are not shown above. Varies based on amount.|
*Late Renewal: If a Limited Partnership has expired more than 5 years ago, multiple renewals can be filed to make it active. The $150 penalty would apply for each late renewal filed.
For more information click: Limited Partnerships Act