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 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 one general partner, and one 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 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).

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 $445.20

Registration for a limited partnership or an incorporated limited partnership. Fees for 2023-24

Vary Variation Partnership $71.55

Change status of partner. Fees for 2023-24

Vary Variation All $63.60

Change status of partner (incorporated limited partnership). Fees for 2023-24

Vary Variation All $71.55

Change address, name, or terms and conditions of a limited partnership. Fees for 2023-24

Act(s) name

Partnership Act 1958 Victoria

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.