Ltda

Ltda, short for Limitada, is a common designation for a private limited-liability company used in many Portuguese- and Spanish-speaking jurisdictions. The structure provides limited liability to its owners, meaning partners risk only their contributed capital.

Ownership is divided into quotas or participations, not freely tradable shares. The transfer of quotas generally requires the agreement of the other partners; the company remains privately held and typically has no public share issuance. The internal governance and profit distribution are usually defined in the company’s founding documents.

Management is typically carried out by one or more administrators (administradores) named in the company's constitution, who may be partners or external managers. The business is governed by a formal contract (Contrato Social or Estatuto Social) that lays out capital, profit-sharing, governance, and dissolution rules. In many cases, the day-to-day operations are handled by the administrators, with major decisions requiring partner approval.

Formation and registration require filing with the relevant commercial or regulatory registry and obtaining a tax identification number. Depending on the jurisdiction, there may be minimum capital requirements and ongoing reporting obligations; accounting standards and corporate governance requirements may apply.

LTDA is distinct from public or listed companies (such as sociedades anónimas o sociedades por acciones) that issue shares to the public. The LTDA form is typically privately held, with closer ownership and more restricted transferability, which can simplify management and confidentiality but limit capital-raising options.