Registration of a Limited Partnership or an Incorporated Limited Partnership - Victoria

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 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.

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 for registration, the 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).

In addition to meeting the requirements of a limited partnership, incorporated limited partnerships must also be or intend to be registered as:

  • a Venture Capital Limited Partnership (VCLP)
  • an Early State Venture Capital Limited Partnership (ESVCLP)
  • an Australian Venture Capital Fund of Funds (AFOF)
  • a Venture Capital Management Partnership (VCMP).

Please consult the 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 Business Structure Amount Description
Apply Application Partnership $414.70

Fees for 2020-21.

Vary Variation Partnership $59.20

Change status of partner. Fees for 2020-21.

Act(s) name

Partnership Act 1958 Victoria

Lodgement process

Apply

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

Administering agency

Department of Justice and Community Safety

Consumer Affairs Victoria

Contact details

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

Please use these contact details for help or more information:

Consumer Affairs Victoria

Department of Justice and Community Safety

Operating address: 121 Exhibition Street
Melbourne, Victoria 3000
Mailing address: GPO BOX 123
Melbourne, Victoria 3001
Phone: 1300 558 181
Phone: 03 8684 0735
Email: consumer@justice.vic.gov.au
Website: Consumer Affairs Victoria (Opens in new window)