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ARTICLE · 06 AUGUST 2020

Migration Of Foreign Limited Partnerships Into Guernsey

Ogier
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The States of Guernsey has adopted regulations permitting foreign limited partnerships to migrate or continue into Guernsey using the statutory migration process set out in the Limited Partnerships...

GuernseyFinance and Banking
Tim Clipstone
Tim Clipstone
Craig Cordle
Craig Cordle
Bryon Rees
Bryon Rees
Richard Doyle
Richard Doyle
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The States of Guernsey has adopted regulations permitting foreign limited partnerships to migrate or continue into Guernsey using the statutory migration process set out in the Limited Partnerships (Guernsey) (Migration) Regulations 2020 (the Regulations). In conjunction with the fast track process for the licensing of managers, Guernsey now provides an expedient and streamlined process for migrating fund structures into the jurisdiction.

Eligibility

In order to migrate into Guernsey the migration must be permitted by the jurisdiction in which the limited partnership is currently registered and the limited partnership must be solvent. Where the limited partnership is regulated in its current jurisdiction, the consent of the Guernsey Financial Services Commission (the GFSC) must be obtained as part of the migration process. The migration must also comply with the terms of the limited partnership's existing partnership agreement and consideration should therefore

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