Starting from 1 September 2025, limited partnerships will need to submit annual financial returns to their registered agents. This requirement comes from section 54A of the Limited Partnership Act (Revised 2020) and is designed to enhance transparency and regulatory oversight.

Not all partnerships will need to comply with this new requirement. You may be exempt if your partnership falls into one of these categories:

• Your partnership is already regulated under financial services legislation and submits financial statements to the Commission; or
• Your partnership files annual tax returns with financial statements to the Inland Revenue Department

The first returns will be due from 1 January 2026 onwards, with the specific deadline depending on your partnership's fiscal year.

For complete details, you can review Circular 41 and the Order directly. If you have any questions about how this affects your partnership or need assistance with compliance, please don't hesitate to get in touch with us.

We're here to help you navigate these changes smoothly and ensure your partnership remains compliant with the new requirements.

For details, Circular 41 can be found here and the Order can be accessed here.