A new way to partner - Jersey's new forms of partnership
A separate limited partnership and an incorporated limited partnership are two new forms of partnership which have been introduced in Jersey. The new forms differ from a conventional limited partnership in that each has a separate legal personality. The incorporated partnership is further distinguished by being constituted as an independent body corporate having perpetual succession. A separate partnership or incorporated partnership may be formed for any lawful purpose and is not subject to any formal requirement to carry on business with a view to profit. Fund sponsors will now benefit from the additional flexibility of having a wider range of partnership vehicles available in a single jurisdiction.
Jersey has recently introduced two new forms of partnership. Ogier’s Daniel Richards outlines the key differences from the conventional limited partnership and the various ways in which the new forms may be used
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