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Limited Partnerships

NZ $55.00
Casey Plunket Nick Wells
Casey Plunket
Chapman Tripp
Nick Wells
Chapman Tripp

This book is only available in PDF format 
Published: 21 April, 2008
Pages: 79


The limited partnerships regime has been introduced in New Zealand following a long period of consideration and consultation between government officials (Ministry of Economic Development and Inland Revenue Department) and private bodies such as the New Zealand Venture Capital Association and New Zealand Venture Investment Fund.

As a result of the parliamentary and select committee process, a robust limited partnerships regime has emerged based on international best practice and adjusted to suit the New Zealand environment. This regime will provide a recognisable and familiar investment vehicle for potential offshore investors looking to invest in New Zealand.

The stated purpose of the Limited Partnerships Act 2008 (“the Act”) (s 3) is to:
establish a modern regulatory regime of limited partnerships that -

(a) gives the business community in New Zealand the option of a flexible and internationally recognised business structure similar to limited partnerships in use in overseas jurisdictions; and
(b) facilitates the development of the venture capital industry in New Zealand.

The limited partnership regime provides a simplified fund structuring vehicle for investors. The flow-through tax status of a limited partnership makes it an especially useful vehicle for investments expected to make losses early in the investment period, where capital gains are expected, or where some participants have special tax status (eg are non-resident or tax exempt).

A basic limited partnership structure is illustrated in the diagram on page 2.

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