Due Diligence Requirements for limited partnerships
For limited partnerships (LPs) and limited liability partnerships (LLPs), we will need to collect the following documents:
Corporate Documents
- Formation document (e.g. Certificate of Formation)
- Constitutional document (e.g. Limited Partnership Agreement)
- General Partner and Limited Partner information (e.g. Register of General Partners, Register of Limited Partners, Certificate of Incumbency issued within recent three months)
Structure Chart
A structure chart on the ownership structure of its General Partner(s) including each intermediary layer(s) up to ultimate beneficial owner level, being confirmed by one of the below:
- General Partner
- Authorised signatory
- An advisor to the company (e.g. legal counsel, accountant, tax advisor, administrator, etc)
- Ultimate Beneficial Owners (UBOs) and Ultimate Effective Controllers (UECs)
Ownership and control
CDD documents are required for the below parties:
- Direct owners – limited partners, with a direct equity interest of 10%* or more
- Direct controllers – general partner(s)
- Ultimate owners – parties with an ultimate equity interest of 10%* or more (e.g. individuals or regulated/listed entities sitting above the direct owners)
- Ultimate controllers – parties able to exercise control (e.g. individual directors of a corporate general partner)
- Intermediate parties – any other parties sitting between direct owners/controllers and the ultimate owners/controllers
Ultimate Owners/Controllers
*Under the anti-money laundering regulations for Jersey, Guernsey, Luxembourg and UK, the threshold is 25%; and for all other jurisdictions is 10%. Please refer to our original e-mail request to see which jurisdictional rules apply.
The above mentioned should be submitted to us via one of the following methods:
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