Guernsey Introduces LLPs

Guernsey has expanded the range of structures available from the jurisdiction by introducing Limited Liability Partnerships (LLPs).

The Limited Liability Partnerships (Guernsey) Law, 2013 was approved by the States of Guernsey in December last year. It was given Royal Assent by the Privy Council in April and registered in the Royal Court of Guernsey on 12 May.

The law came into force with effect from 13 May with the Guernsey Registry accepting registrations to form Guernsey LLPs.

Fiona Le Poidevin, Chief Executive of Guernsey Finance - the promotional agency for the Island's finance industry, said: "The introduction of Guernsey LLPs means that our financial services practitioners have another vehicle to use in providing solutions for their client base.