Limited Partnerships

Collas Crill Trust are able to incorporate and administer Limited Partnerships, which are governed by the The Limited Partnerships (Guernsey) Law, 1995.

Limited partnerships are used for various reasons including asset protection and international tax planning, where the tax transparency of the vehicle is advantageous.

In basic terms, there will be a partnership between one (or more) general partners with responsibility for managing the partnership, and one (or more) limited partners as investors - who will not be involved with day-to-day management.

Being tax transparent, the partners will be taxed individually in their own countries of residence on their share of profits. A Guernsey partnership and any non-resident partners will not be liable for Guernsey income tax providing the partnership's activities and investments fall outside of Guernsey.

In Guernsey, a limited partnership can choose to have separate legal personality. This must be determined by the general partner upon incorporation.

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