Exempted Limited Partnerships In The Cayman Islands

General

Legislation

The Exempted Limited Partnership Law (the ELP Law) governs the formation of exempted limited partnerships (ELPs) in the Cayman Islands. The Partnership Law also contains provisions relevant to the affairs of an ELP, being the main legislation governing partnerships generally.

Nature of an ELP

The Partnership Law defines a partnership as "the relation which subsists between persons carrying on a business with a view to profit". An ELP is a partnership consisting of at least one general partner (who has responsibility for the business affairs of the partnership) and any number of limited partners, which is registered as such under the ELP Law.

Not a separate legal entity