09/08/2026
Confused about a Limited Partnership (LP) vs a Limited Liability Partnership (LLP) in Canada? This video breaks down the real differences β liability, who can register, taxes, and which structure fits your business β so you can choose the right partnership with confidence before you register.
A Limited Partnership (LP) has at least one general partner who runs the business and carries unlimited liability, plus one or more limited partners whose risk is capped at what they invest. LPs are popular for investment funds, real estate, film, and family/holding structures β and in Canada there's no residency requirement, so non-resident partners can register too.
A Limited Liability Partnership (LLP) is built mainly for licensed professionals such as lawyers and accountants, where each partner is shielded from the negligence of the other partners. Eligibility is set province by province, so always check with your regulator before filing.
Not sure which one you need? Here's the short version: choose an LP when you want passive investors with limited exposure and one managing partner; choose an LLP when you're a group of licensed professionals who want personal protection from each other's mistakes.
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βΆ REGISTER YOUR PARTNERSHIP IN CANADA
We're Incorporation Registry β a registered paralegal firm and authorized registry agent filing partnership and business-name documents directly with the provincial registries, for residents and non-residents alike.
LIMITED PARTNERSHIP (LP)
- LP β how it works & get started: https://incorporationregistry.ca/register-a-limited-partnership-online/
- Register a Limited Partnership (LP): https://incorporationregistry.ca/product/register-a-limited-partnership-lp/
LIMITED LIABILITY PARTNERSHIP (LLP)
- LLP β how it works & get started: https://incorporationregistry.ca/register-limited-liability-partnership/
- Register a Limited Liability Partnership (LLP): https://incorporationregistry.ca/product/register-a-limited-liability-partnership-llp/
GENERAL PARTNERSHIP
- Register a General Partnership: https://incorporationregistry.ca/product/register-a-general-partnership/
- General Partnership for non-residents: https://incorporationregistry.ca/product/general-partnership-registration-for-non-resident/
- Custom General Partnership Agreement: https://incorporationregistry.ca/product/general-partnership-agreement/
ALREADY REGISTERED?
- Update or amend a partnership: https://incorporationregistry.ca/product/update-partnership/
- Register a trade / operating name: https://incorporationregistry.ca/trade-name-registration/
Still deciding? Call 647-946-3583 or email [email protected] and we'll help you pick the right structure β usually filed in 2β3 business days.
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π Helpful for: entrepreneurs, investors, real estate partners, lawyers, accountants, and non-residents starting a business in Canada (Ontario, BC, Alberta, and beyond).