Limited Partnership (LP)

The Limited Partnership Act 2011 of Mauritius provides for the formation, registration, operation, and dissolution of limited partnerships (LPs) in Mauritius. An LP is a business structure that combines the flexibility of a partnership with the limited liability of a company. A limited partnership can elect to have legal personality. An LP is required to have a registered agent in Mauritius.

An LP must have at least one ‘general’ partner and one ‘limited’ partner. The general partner manages the business and is liable for all the debts and obligations of the LP, while the limited partners liability is limited to the amount of their agreed contribution to the LP. There must be a partnership agreement in writing.

LPs are commonly used in the investment industry, such as private equity and venture capital, where investors can contribute capital without assuming management responsibilities or personal liability for the LP’s debts and obligations.

The LP structure provides investors with flexibility in terms of profit sharing and management responsibilities, making it an ideal structure for businesses that require capital investment but do not want to share control over the management of the business.

An LP can also apply to the FSC for a Global Business Licence if it conducts a major part of its business outside Mauritius.

Our services include:

  • Formation of LP
  • Drafting of Partnership Agreement
  • Application for GBL licence (if required)
  • Provision of a General Partner resident in Mauritius
  • Accounting and Audit Services
  • Drafting of minutes of Partners’ meetings
  • Opening of bank accounts