There are three different Jersey Limited Partnerships:
1. The 1994 Limited Partnership
This has a general partner as its contracting entity. It offers limited liability, but has no separate legal personality and is an unincorporated association with no perpetual succession.
2. Separate Limited Partnership (SLP)
3. Incorporated Limited Partnership (ILP)
While both SLPs and ILPs have separate legal personality and will have a general partner, usually a Jersey company, an SLP is not incorporated and does not have perpetual succession, whereas an ILP has both.
Tax in Jersey is attributed to each partner in their own country of residence for their profit proportion and there is no tax in Jersey.
The objective is to exercise a degree of influence (in an offshore structure), short of management (and control).
Anglo Saxon Trust can establish and conduct the administration of Jersey limited partnerships in conjunction with our Jersey legal advisers regarding the partnership agreement.
Regulated by the Jersey Financial Services Commission to conduct Trust Company Business