Limited Partnerships - Guernsey

A limited partnership is a partnership between one or more general partners, who are solely responsible for managing the partnership, and one or more limited partners, who are investors in the partnership with no involvement in its management.

The partnership is operated in accordance with the limited partnership agreement and the Limited Partnerships (Guernsey) Law, 1995, as amended (the "Law"). Generally, the limited partnership does not have legal personality separate from its partners. However, upon initial registration the limited partnership can elect to have separate legal personality; a partnership with legal personality is deemed (for certain purposes) to be a body corporate.