Setting up a Limited Partnership
Being short on capital or the lacking the funder may require you to form 'limited partnership' rather than 'general partnership' (VOF). This partnership is known as CV or commanditaire vennootschap in Dutch.
Your funders are your partners in your business in commanditaire vennootschap. They are known as a limited, sleeping, or silent partner.
Managing and limited partners
Most people refer to CV as a particular class of 'general partnership.' The CV has two partner types: a managing and a limited partner.
The role of managing partner is to run a daily business while the limited partner is involved in the financial matters of the company
A limited partnership is not accepted as a corporate legal entity. That is why being a managing partner makes you responsible for the loans of CV. It is your direct responsibility to file for personal bankruptcy whenever CV is declared bankrupt
It is important to note that managing partners who join a limited partnership are responsible for the loans formed prior they entered it. Examining accounts of the VOF’s and evaluating its financial structure before entering the general partnership is very important.
Limited partners are going to lose their financial contribution in the partnership, except if they are managing partners that represent CV to others. If that is the case, limited partners are also individually responsible.