LIMITED PARTNERSHIPS
New Zealand limited partnerships are fiscally transparent entities that pay no tax themselves. Rather, partners pay tax at whatever rate applies to them in their place of residence.
Limited partnerships have separate legal personality from their members and offer limitation of liability to all limited partners. There must be at least one general partner, and that general partner is liable for all actions of the limited partnership. However, the general partner is normally a limited company established solely to act as a general partners , meaning that liability is anyhow limited.
Because of their tax efficiency, privacy and flexibility, new Zealand limited partnerships are excellent structures for investment funds and other pooled investment vehicles. Their attraction for these uses is strengthened by the extremely high quality of professional service providers such as accountants, auditors and fund administrators in New Zealand.
The identity of limited partners is not a matter of public record and partnership agreements remain confidential. Careful structuring can minimise reporting requirements whilst Limited partnerships can be established quickly.
Limited partnerships have separate legal personality from their members and offer limitation of liability to all limited partners. There must be at least one general partner, and that general partner is liable for all actions of the limited partnership. However, the general partner is normally a limited company established solely to act as a general partners , meaning that liability is anyhow limited.
Because of their tax efficiency, privacy and flexibility, new Zealand limited partnerships are excellent structures for investment funds and other pooled investment vehicles. Their attraction for these uses is strengthened by the extremely high quality of professional service providers such as accountants, auditors and fund administrators in New Zealand.
The identity of limited partners is not a matter of public record and partnership agreements remain confidential. Careful structuring can minimise reporting requirements whilst Limited partnerships can be established quickly.
