Create a Limited Partnership (LP)

Limited Partnerships have two classes of Partners: General and Limited. In a Limited Partnership, there must be at least one General Partner and one Limited Partner.

Watch this short video on how to create a limited partnership or read the steps below.

To create a Limited Partnership:

• Navigate to My Home > Wizards > New Business Org. Type > New Partnership.

Or

• Navigate to All Searches > Partnerships > Wizards > New Partnership.

The Partnership wizard opens.

• Use the dropdown menus provided to select the appropriate Country, Region and Partnership Type.

• From the Organisation Type field, select an appropriate organisation type (in this example, a Limited Partnership).

• Enter an appropriate name for the new partnership into the Name and Quick Reference fields.

• Select Next.

The Statutory screen displays.

• Enter the Date of Registration into the field provided, and (if applicable) the Registration Number issued into the related field.
• In the Status dropdown menu, select the Active option.
• Select the Reporting Currency dropdown menu to select the appropriate currency to be used by the partnership.

• Select Next.

The Addresses screen displays.

• Select the relevant wand to add address details for the partnership. (Alternatively, select Next and the detail once the record is created).
• Select Next.

The Fund Details screen displays (if applicable).

• (Where applicable) use the fields provided to enter details about the Fund Size and Fund Term, adding any additional detail into the Term field.

• Select Finish.

The wizard closes, the new Limited Partnership entity is listed, and can be searched for as a new entity.