Limited Partnership Funds (LPF HK) is well-loved for good reasons. Let’s have a look at the benefits of Limited Partnership Funds (LPF HK) and you’ll understand why. The benefits of Limited Partnership Funds (LPF HK) are as follows. First, contract-wise, partners enjoy a high level of freedom. Second, a minimum capital is not required. Third, there are no statutory investment restrictions at all. Enticing, right?
If you are intrigued, keep reading and see what the general requirements of Limited Partnership Funds (LPF HK) are. Firstly, the LPF needs to be in line with the definition of ‘fund’ in section 3 of the Bill. Secondly, the Limited Partnership Funds needs to be governed by a limited partnership agreement. Thirdly, at least one General Partner with unlimited liability is present to hold liable for all debts and liabilities. Next, at least one Limited Partner with limited liability is present. Furthermore, there needs to be a HK office.
Now, let’s see how an LPF HK set up goes. To begin with, the General Partner and Limited Partner make an application to the Registrar of Companies. Next, they fill in the ‘Application for Registration of Limited Partnership Fund’ form and prepare HK$3034. Finally, the form and fees are submitted by a registered HK law firm.