You will need to be registered to operate as a limited partnership or an incorporated limited partnership. A partnership is an entity comprised of two or more people that jointly carries on business for profit.
A limited partnership allows you to form a partnership with one 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 involvement 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 one general partner, and one or more limited partners. You should seek expert legal advice before establishing an incorporated limited partnership.
Please consult the responsible agency for more information and to ascertain the level of compliance (if any) that may be required.