In Algerian law, partnerships are primarily regulated by the Commercial Code .There are several types of partnerships, each with its own characteristics. Here are the main ones:
1. General Partnership ( SNC):
Composed of two or more partners who have unlimited liability for the company’s debts.
Partners are jointly and severally liable.
The management is typically handled by one or more partners.
Transfer of shares requires the consent of all partners.
2. Limited Partnership ( SCS)
Composed of two types of partners:
General partners: Have unlimited liability and manage the company.
Limited partners: Have limited liability (up to their contributions) and do not participate in management.
Profits and losses are shared according to the partnership agreement.
3. Limited Partnership by Shares ( SCA)
A hybrid between a limited partnership and a joint-stock company.
Composed of:
General partners: With unlimited liability.
Shareholders: Whose liability is limited to the value of their shares.
Governed by more complex regulations than the SCS.