business.gov.au

Registration of a limited partnership or an incorporated limited partnership - Queensland

Description

You will need to be registered to operate as a limited partnership or an incorporated limited partnership. A partnership is an entity comprised of 2 or more people that jointly carries on business for profit.

A limited partnership allows you to form a partnership with 1 or more general partners (with unlimited liability) and limited partners, whose liability is limited to the amount they have agreed to contribute to the partnership. Limited partners are passive investors and cannot be involved in the management of the business.

An incorporated limited partnership is a special corporate form of partnership primarily established for people engaged in high-risk venture capital projects. It is an organisation that is a legally separate entity from its partners, and must have at least 1 general partner, and 1 or more limited partners. You should seek expert legal advice before establishing an incorporated limited partnership.

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible to register as an incorporated limited partnership, you must be:

  • a venture capital limited partnership (VCLP)
  • an early stage venture capital limited partnership (ESVCLP)
  • an Australian venture capital fund of funds (AFOF)
  • a venture capital management partnership (VCMP)
  • intending to be any of the above.

To be eligible to register as a limited liability partnership, you must have at least 1 general partner and at least 1 limited partner.

Duration

This partnership will remain in effect until dissolution or cessation.

Fees

Fees Details for this service in table format.

Task Type Business Structure Amount Description
Apply Application All $160.10

Application for registration of limited liability partnership. Fees for 2022-23
Apply Application All $866.80

Application for registration of incorporated limited partnership. Fees for 2022-23
Vary Variation All $77.30

Change of details relating to limited liability partnership. Fees for 2022-23

Transfer process

Transfer

You can transfer a partnership by submitting a completed change of details form. You must lodge notification within seven days of the date of change.

Administering agency

Department of Justice and Attorney-General

Office of Fair Trading

Registration Services

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.