ARTICLE · 23 OCTOBER 1998
Old And New Cayman Islands Vehicles
Cayman IslandsWealth Management
By Doyle A Dally, Senior Manager - Trust Dept Head
THE CAYMAN EXEMPTED LIMITED PARTNERSHIP
So often, we forget or neglect to include in the package of useful products available in the Cayman Islands, the Exempted Limited Partnership probably, because it is not properly understood.
The business opportunities connected with the Cayman Islands Exempted Limited Partnership, are probably best explained by taking note of a few observations.
First of all, we have the traditonal type of partnership commonly referred to, as an Ordinary Partnership, where each partner is liable jointly with the other partners for the debts of the partnership and there is no limit to the liability of the partners. We also have a type of partnership known as a Limited Partnership which consists of one or more General partners and one or more Limited Partners. While the General Partners are liable for the debts of the partnership, the Limited Partners are generally speaking, not so liable. These
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