A limited partnership is a partnership made between one or more General Partners and one or more other persons who are limited partners. The general partner tends to be responsible for the management of the limited partnership and is generally a limited liability company. Limited partners are the investors who do not participate in the management of the limited partnership. Jersey Limited Partnerships are regularly used for collective investment funds, private investment structures and family planning. They have also proved popular for structures and transactions where tax transparency is important.

Jersey LP Key Features

  1. Any general partner will have unlimited liability for the debts of the partnership, whereas the limited partners will be protected by limited liability provided that they have not participated in the management of the partnership;
  2. It must consist of one or more general partners and one or more limited partners;
  3. There is no limit on the number of limited partners;
  4. A limited partner is permitted to assign its interest (subject to the terms of the partnership agreement);
  5. A limited partner may contribute cash or property;
  6. A limited partnership may be established for a specific period or for an unlimited period of time;
  7. There are no requirements for an audit, filing of an annual return or annual fee; and
  8. Registration and Control of Borrowing Order (“COBO”) consent will be required, both of which are standard applications.

Jersey LP Legal Requirements

Jersey LP

Corporate Details

General

  • Registered Office in Jersey

Yes

  • Shelf company availability

Yes

Share capital or equivalent

  • Standard currency

USD

  • Permitted currencies

Any

Directors | Officers | Partners

  • Minimum number

1 Limited Partner and 1 General Partner

  • Maximum number

None

  • Location of meetings

No

  • Corporate Partnerships allowed

Yes

Company Secretary

  • Required

No

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

No

  • Requirements to file accounts

Yes

Jersey LP Tax Treatment

Jersey limited partnerships are not liable to any Jersey income tax burden

Jersey LP Duration for Set-up

2 Weeks

Distinctive Benefits of the Jersey LP

  • There is no limit on the number of limited partners;
  • Jersey limited partnerships are not liable to any Jersey income tax burden
  • No audit requirements for A Jersey LP
  • Friendly regulatory environment in Jersey
  • Tax exemption on withholding tax.

The Valsen Advantage

  1. End to end comprehensive service
  2. Speedy and efficient service
  3. Expert advice on structuring options
  4. Dedicated ongoing compliance support
  5. Extensive network pool of service providers