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ARTICLE · 01 AUGUST 2018

Guide To Limited Liability Partnerships In Jersey

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Following on from its original introduction in 1997, the legislation governing the limited liability partnership (LLP)

JerseyCorporate/Commercial Law
Andrew Weaver
Andrew Weaver
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Following on from its original introduction in 1997, the legislation governing the limited liability partnership (LLP) in Jersey has recently undergone significant revision and the Limited Liability Partnerships (Jersey) Law 2017 is to come into force on 1 August 2018. Key features to this flexible vehicle include:

  • Partners may contribute capital or skill and effort to the business of the LLP
  • The LLP has its own legal personality distinct form its partners but is not a body corporate
  • Partners shall act as agents of the LLP but not of each other
  • Partners shall generally not be liable for any debt or loss for which the LLP is liable
  • The LLP is tax transparent

We expect the LLP will be useful in a wide variety of circumstances as an organisation for the conduct of services businesses and for investment activity. In particular the structure will permit both passive investors and active partners to operate within the same structure. The internal

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