By Emily Haithwaite, Niamh Lalor, Tara Kapur
Limited partnerships in Jersey are governed by the Limited Partnerships (Jersey) Law 1994, as amended (the Law). The main feature of limited partnerships, as the name suggests, is the limited liability afforded to the limited partners. In addition, the Law is very flexible, such that the partners in a Jersey limited partnership are free to agree the terms attaching to the structure and operation of the partnership between them.
For this reason, Jersey limited partnerships are very popular vehicles and common uses include:
- investment funds and, in particular, private equity and venture capital vehicles;
- real estate holding, development and investment structures;
- asset holding vehicles for families;
- profit-sharing, employee incentive or carried interest vehicles.