Limited Partnerships 

The Partnership Act 1996 envisages the establishment of International Limited Partnerships.  These international limited partnerships may no carry on business with residents in the Territory of the British Virgin Islands nor own an interest in real estate in the BVI other than a lease for a registered office.  

However, this restriction does not prohibit a limited partnership from any of the following: 

1. banking through a bank licensed under the Banks & Trust Companies Act of the British Virgin Islands;
2. maintain professional contact with a trust company, lawyer, accountant, or other similar persons doing business in the BVI; 
3. maintain its books and records in the BVI; 
4. hold partners' meetings in the Territory; 
5. lease a property for use as an office from which to communicate with the partners or where books and records of the partnership can be prepared and maintained; or 
6. hold shares, debt obligations or other securities in IBCs (International Business Companies).  

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updated 21-Aug-2003