Please note: These guidance notes are not intended to be definitive legal advice and should not be relied upon as such. The interpretation of legislation is a matter on which the Guernsey Registry cannot advise and entities/individuals need to form their own independent view on compliance with the legislation. Independent legal advice is advised where there is any uncertainty.
New limited partnership annual validation process
Limited partnership annual validations have in previous years been filed during January with an effective date of 1 January.
In response to feedback from industry that it would be preferable to distribute filings more evenly, for 2017 the annual validation will be due in June with an effective date of 31 May. Limited Partnerships registered in May will not be required to file an annual validation in 2017. All annual validation submissions received after 30 June will be subject to a £100 per month late filing fee.
As part of this change the annual validation has moved from being a paper-based process to an online process using the Online Services Portal at www.greg.gg. The process is similar to the annual validation process for companies, and full information and guidance on how to make the submissions is available below.
Whilst paper annual validations will not be accepted for filing, we believe this will reduce the burden on you and provide an opportunity to ensure that all of the data we hold is correct, as the 2017 annual validation form allows users to identify and correct any errors and omissions on the Register as part of the process.
The filing fee for the annual validation will remain at £500.
The below guidance note gives further information relating to limited partnership annual validations. Should you need any more information please contact us.
|Limited Partnership Annual Validation - submission [1Mb]||Step-by-step guidance on making a Limited Partnership Annual Validation submission online|
Registration of general partners
General partners of limited partnerships will need to be added as part of the annual validation process.
General partners which are Guernsey registered companies or limited partnerships can use their Guernsey registration number, so do not need to be registered.
Individuals who are general partners will need a person ID number. CSPs can register persons using the Online Services Portal using the same 'Register Entity Officials' form used to register directors. Persons who are already registered on the system for the purposes of being a director can use the number already allocated to them.
Limited partnership annual validation timeline 2017
1 January 2017
No limited partnership annual validations are required.
21 April 2017
Limited partnership annual validation online form becomes available for users to draft submissions and save them to be submitted in June.
Note: Some information that is not already held on the Registry online system will need to be entered as part of the process (e.g. principal place of business, term of limited partnership). General partner information will also need to be entered on the form (see above for more information).
Any information currently held can be edited to ensure that the register is up to date.
1 June 2017
Limited partnership annual validations will be accepted by the Registry.
1 July 2017
Late filing fees of £100 per month will apply to all limited partnership annual validations made from 1 July.