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Due Diligence Requirements for limited partnerships
For limited partnerships (LPs) and limited liability partnerships (LLPs), we will need to collect the following 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)
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
*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:
Visit a suitable certifier with photo ID and proof of address. The certifier will take copies, add an attestation and sign to certify that they are true and accurate copies of the original documents. You may either send the certified copy to us via email or post it to one of our offices.
Use our secure mobile ID app to provide all your details and verification evidence via your mobile phone in just a few minutes. Just open this link on your mobile to download the app and get started.
Drop into any of our offices during normal working hours with photo ID and proof of address. Our staff will take copies whilst you wait and you will be back on your way within just a few minutes.
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