I have talked about engaging professionals to advice on global structures. Welcome then to the recently established Limited Partnership (LLP).
According to the NZ Companies Office website, 'the Limited Partnerships Act 2008 came into force on 2 May 2008 enabling registration of Limited Partnerships and Overseas Limited Partnerships. A searchable register of Limited Partnerships and Overseas Limited Partnerships is also now available.
The primary objective of the introduction of the Limited Partnerships regime is to facilitate sustainable growth in New Zealand's venture capital and private equity industries'.
It's about time. (That's my observation, not the NZ Companies House one).
One of the consistent issues I have faced over the past few weeks is New Zealand's attraction, or otherwise, to offshore investors. It is a real question. It has been a serious problem. I believe it is one that the Limited Partnership structure seeks to address.
It is a structure that VC's and private equity in the US and UK / Europe understand. The NZ model appears (and I have only skimmed it in the past 48 hours) to be pretty consistent with international standards. It does what the legislators intended. It creates a level playing field for NZ business to attract international VC and private equity.
I guess this is going to be a focus position of mine in the near term which means you are going to read more about it from my perspective. Anything that assists NZ business in general is great. Anything that assists Pingar is 'actually marvelous'.
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