ARTICLE · 20 DECEMBER 2017

BVI Limited Partnership Act

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The British Virgin Islands (BVI) has enacted the eagerly awaited Limited Partnership Act (the Limited Partnership Act or the Act).

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Michael Killourhy

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The British Virgin Islands (BVI) has enacted the eagerly awaited Limited Partnership Act (the Limited Partnership Act or the Act). While the new Act is yet to be officially gazetted and brought into force, it represents a major addition to the commercial laws of the BVI. On its commencement, the new Limited Liability Partnership Act will replace the existing limited partnership provisions found at Part VI of the Partnership Act, 1996 (the 1996 Partnership Act) for new BVI limited partnerships and those existing ones that choose to re-register under the new Act. As yet the date on which the new Act will be brought into full force and commenced is not known, but it is expected that this will be early in 2018.

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