Limited Partnerships

The Partnership

 

A Limited Partnership (LP) is a combination of both a partnership and a private limited liability company, allowing owners to operate as a partnership with a separate legal personality. The Partnership will need to have one General Partner (GP) who will usually manage the day-to-day administration of the Partnership.

 

Limited Partnership can be set up to act as Feeder Fund to a Global Fund in Mauritius and will fall under the purview of the Financial Services Commission

Some Characteristics:

 

­the LP must have a registered agent in Mauritius if the GP is not resident in Mauritius (individual or corporate body)


the GP will be liable for the debts and obligations of the LP, but the limited partners are only liable to the extent of their agreed contributions, unless they participate in the management of the LP.

Ashton Corporate