Limited Partnership

A Limited Partnership (LP) is a vehicle designed to bring flexibility in the corporate sphere. LPs having a legal personality are legal persons distinct from their members. This means they can enter into contracts, own property, sue and be sued in their own names, making them much more flexible than a company structure. Limited Partnership is governed by the Mauritius Limited Partnership (LP) Act 2011.The constitution and governance of an LP are set out in the partnership agreement. This flexibility means that the LP partners are free to choose the structure which works best for them. An LP may apply for a Global Business Licence in order to take advantage of the tax credit under the network of Double Taxation Avoidance Agreements and Investment Promotion and Protection Agreements that Mauritius has entered into with various countries

The major uses of LP are:

  • Private equity and venture capital schemes
  • Collective investment schemes and closed-end funds
  • Joint ventures
  • Holding of property interests
  • Estate planning
  • Asset protection
  • Tax and financial planning