Overview

The Limited Partnership Fund Ordinance (Cap. 637) (“the Ordinance”), which establishes a new limited partnership fund regime to enable private funds to be registered in the form of limited partnerships in Hong Kong, has commenced operation on 31 August 2020.

To foster the position of Hong Kong as a premier international asset and wealth management centre, the limited partnership fund (“LPF”) regime is introduced to attract private investment funds (including private equity and venture capital funds) to set up and register in Hong Kong so as to facilitate the channeling of capital into corporates, including start-ups in the innovation and technology field in the Greater Bay Area.

An LPF is a fund that is structured in the form of a limited partnership which will be used for the purpose of managing investments for the benefit of its investors.  A fund qualifying for registration under the LPF regime must be constituted by one general partner who has unlimited liability in respect of the debts and liabilities of the fund, and at least one limited partner with limited liability.  A fund set up in the form of a limited partnership registered under the Limited Partnerships Ordinance (Cap. 37) may be registered as an LPF if it meets the eligibility requirements under the Ordinance.

The LPF regime is a registration scheme administered by the Companies Registry.

Comprehensive information on the LPF regime, including external circular, information pamphlets, specified forms etc. are available in this thematic section.