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Gibraltar's New LLP Legislation In Force

by Jason Gorringe, Lowtax.net, London
26 March, 2016

Gibraltar's new Limited Liability Partnership (LLP) Act became effective on March 24, 2016.

The Minister for Financial Services and Gaming, Albert Isola, said: "On behalf of HM Government of Gibraltar and as part of a wide-ranging and long outstanding review of legislation, we are pleased to publish the LLP Regulations and commence this Act. The legislation significantly increases the ability of local practitioners to provide first-class solutions to their local and international clients thereby creating new and increased business flows for Gibraltar."

The Minister for Education and Justice and International Exchange of Information, Gilbert Licudi, added: "I am delighted that we have been able to complete the framework so as to enable this legislation to come into operation as it adds to the significant work that this Government has carried out in recent years to ensure our legislation is current, up to date and fit for purpose in a changing world environment."

"We are firmly committed to providing the most comprehensive and current legislative framework for our professional services providers so as to contribute to the jurisdiction's commercial success. This latest step forward is testament to this commitment. I am grateful to colleagues in the Government and local practitioners who have given of their time and talent in reaching this important milestone."

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