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ARTICLE · 18 SEPTEMBER 2015

Continuing Requirements For BVI Partnerships

Carey Olsen
Carey Olsen
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Carey Olsen

Carey Olsen

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The Partnership Act, 1996 and the Mutual Legal Assistance Amendment Act 2003 set out a number of on-going administrative and record-keeping obligations with which all partnerships incorporated in the British Virgin Islands must comply.

British Virgin IslandsCorporate/Commercial Law
Clinton Hempel
Clinton Hempel
Elizabeth Killeen
Elizabeth Killeen
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The Partnership Act, 1996 (as amended) (the "Act") and the Mutual Legal Assistance (Tax Matters) Amendment Act 2003 (as amended) ("MLAT") set out a number of on-going administrative and record-keeping obligations with which all partnerships incorporated in the British Virgin Islands ("BVI") must comply. Failure to comply with these obligations can result in fines being imposed against the general partners and them being exposed to liabilities and/or the partnership being "struck off" the register of limited partnerships (the "Register") maintained by the BVI Registrar of Partnerships (the "Registrar").

Continuing Requirements for BVI Partnerships

There are three types of partnerships that can be incorporated in the BVI:

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