Changes in the process of registration of Irish partnerships
What will be the process of registration of Irish LPs?
The Irish Register of Companies increased the requirements for non-resident partners wishing to register an enterprise in Ireland in December of last year. Changes have applied to individuals and legal entities that expressed a desire to become partners.
These changes in the legislation will help confirm seriousness of intentions of those who are going to conduct business in Ireland.
- If general partner (natural person) is not a resident of the European Economic Area, he/she must have special permission from the Department of Justice and Equality of Ireland to participate in a partnership. Permission is given in the form of GNIB or Green Card.
- If general partner is a legal person that does not have a registration in Ireland, a company needs to open a branch in the country. The foregoing will enable a company to act as a general partner in an Irish LP.
- A non-resident natural person can be a limited partner.
If a legal entity is appointed as a limited partner, a company must provide all the constituent documents with an apostille at a place of registration. Documentation with registration forms is filed with the register.