General
The law of partnership in the British Virgin Islands ("BVI") is governed by the Partnership Act 1996 ("the Act"). This legislation accomplishes two goals, the first is the codification of the law of partnership generally, and secondly, the Act provides for the establishment of limited partnerships. The Act combines elements from the UK Limited Partnership Act 1907 and the Delaware Revised Uniform Limited Partnership Act 1983. International clients who chose the BVI will enjoy all the usual tax and limitation of liability benefits and have the added advantage of being offshore and the option of also using BVI offshore companies ("IBCs") as the general and the limited partners themselves.
