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Guernsey Limited Partnerships

A Guernsey Limited Partnership (GLP) is a flexible corporate vehicle used in a wide range of corporate transactions.

They are a useful vehicle for investors in that they grant the benefit of limited liability whilst not imposing the rigid structure of a company.

They are used for a number of reasons including:

  • in international tax planning arrangements utilising the fiscal transparency of the GLP concept;
  • as vehicles for private equity and venture capital schemes;
  • as components in asset protection arrangements; and
  • as vehicles for collective investment funds in Guernsey.

GLPs have a number of advantages over their English cousins and these include allowing the limited partner to take an active management role without any loss of limited liability or any requirement as to disclosure of the identity of the limited partner.

With a GLP the requirement for a general partner to receive any profit share is also removed. Further, the GLP has a separate legal personality (so that it would for instance count as only one investor in a fund).

Hansard can assist with the set-up and administration of a GLP, either as a stand alone entity or as part of a larger client structure.

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