Registration of an Incorporated Limited Partnership - Victoria

Description

This registration allows you to form an incorporated limited partnership.

A partnership is made up of two or more people who jointly carry on a business for profit. Under a general partnership, all partners are equally responsible for the business, and have unlimited liability for its debts and obligations. 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.

It must have at least one (but no more than twenty) general partners (who have unlimited liability), and one or more limited partners (whose liability for the debts and obligations of the partnership is limited). You should seek expert legal advice before establishing an incorporated limited partnership.

To apply, complete the Incorporated Limited Partnership Application form.

Please consult the responsible agency for more information and to ascertain the level of compliance (if any) that may be required.

Service type

Licence

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

Eligibility requirements

A standard limited partnership must have:

  • a registered office in Victoria
  • a written agreement between the partners
  • at least one general partner (and a maximum of 20)
  • at least one limited partner (but there is no maximum number of limited partners).

To be eligible for this registration for incorporation you must:

  • register your partnership under Part 2 of the Venture Capital Act 2002
  • have a general partner that is a venture capital partnership, or early stage venture capital limited partnership
  • ensure that your partnership is recognised as a venture capital management partnership under the Income Tax Assessment Act 1936
  • submit the appropriate application form and all accompanying documentation
  • pay the prescribed fees.

Please consult the responsible agency for more information regarding eligibility requirements.

Duration

Ongoing, subject to registration compliance requirements.

Fees

Fees Details for this service in table format.

Task Type Amount Description
Apply Application $398.20

Fees for 2017-18.

Vary Variation $56.90

Change status of partner. Fees for 2017-18.

Lodgement process

Apply

Please lodge your application and all accompanying documentation directly with the Agency.

Administering agency

Department of Justice and Regulation

Consumer Affairs Victoria

Contact details

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

Consumer Affairs Victoria

Department of Justice and Regulation

Phone: 03 8684 0735
Fax: 03 8684 6199
Other: 1300 558 181
Email: consumer@justice.vic.gov.au
Website: Consumer Affairs Victoria (Opens in new window)