Regulatory Alerts2024-12-06
Limited Partnership (Amendment) Act, 2024
The Legislature of the Virgin Islands enacted this Act to amend the Limited Partnership Act, Revised Edition 2020, by introducing mandatory filing requirements for registers of general and limited partners with the Registrar. The legislation establishes new obligations for limited partnerships to collect, maintain, and file beneficial ownership information, while also requiring the submission of annual financial returns to registered agents. Additionally, the Act modifies rules regarding struck-off partnerships, registered offices, and the expansion of the framework for fees and penalties.
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