Tom Carey & David Crosland of Carey Olsen consider
the introduction of the Limited Liability Partnerships (Guernsey)
Law, 2013.
In response to the increasing demand for limited liability
partnership (LLPs) structures in Guernsey the Limited Liability
Partnerships (Guernsey) Law, 2013 came into force on 13 May this
year.
The key features of a Guernsey LLP are similar to those
registered in other jurisdictions but certain enhancements have
been made to the legislation to broaden the scope of their
commercial use and to benefit sponsors looking to use Guernsey as a
domicile for private equity funds.
Key features
A Guernsey LLP is a body corporate with unlimited capacity and
its own legal personality separate from that of its members and may
be formed to carry on lawful business with a view to profit or any
other lawful activity.
