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Main features of its legal status :
- between 2 and 50 partners (natural or legal persons) + director(s) (must be a natural person). The director may be a partner or a third party
- minimum capital of 1 €
- possible for all activities except insurance and capitalisation and savings companies
- liability limited to the percentage of capital contribution + civil and criminal liability of the company director
- appointment of one or more directors in the articles or by Ordinary General Assembly. Dismissal is done by OGA if the reasons are legitimate
- duration determined by the articles, if not, unlimited
- for partners and directors, social security scheme for non-wage earners
- everyday management decisions are made by the director. Decisions beyond the power of the director are made in an Ordinary General Assembly. Decisions concerning the modification of articles are made in an Extraordinary General Assembly.
- must have recourse to a registered auditor if two of the following three conditions are met : balance sheet > 1,5 million €, annual turnover, before taxes > 3 millions €, + 50 employees
- transfer by stocks transfer by unanimous vote of the partners
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