Guernsey Partnerships:

Guernsey General Partnership:

Partnerships are governed by the Partnership Law 1995. Guernsey partnership law is very similar to English law. In general partnerships, a partner's liability in unlimited. Annual accounts have to be submitted to the Administrator, but there are no statutory audit requirements.

Guernsey Limited Partnership:

Limited partnerships are governed by the Limited Partnerships (Guernsey) Law 1995. As usual, the general partner or partners are liable for all debts, but individual limited partners are liable only to the extent of their contributions. Limited Partnerships must obtain a Certificate of Registration from the Greffier, and must maintain a registered office in Guernsey. Limited partnerships carrying on or providing services in relation to the business of banking, insurance, investment, asset management or administration, trusteeship, company or trust formation and administration also produce audited accounts.

Version date: 07.05.06