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Registration of a Limited Partnership or an Incorporated Limited Partnership - Western Australia

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 for registration, the limited partnership must have:

  • a registered office in Western Australia
  • a written agreement between the partners
  • at least 1 general partner (and a maximum of 20)
  • at least 1 limited partner (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

As specified

Fees

Fees Details for this service in table format.

Task Type Business Structure Description
Apply Application Incorporated Association, Partnership

Fee information is in the attached fee resource.

Other resources

Task Business Structure Resources
Comply Partnership Fees and Forms for Limited Partnerships (Opens in new window)

Act(s) name

Limited Partnerships Act 2016 Western Australia

Regulation(s) name

Limited Partnerships Regulations 2017 Western Australia

Administering agency

Department of Energy, Mines, Industry Regulation and Safety

Consumer Protection

Contact details

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