Investment partnership needs to get an LEI - cheapest?

Bluebeard

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I'm forming a family investment partnership, it appears I will have to get it an LEI entity identifier to hold securities.

Has anyone info on the least-cost supplier of LEIs in Ireland?

Online prices vary wildly ....
 
Why are you forming this partnership?

There would have to be a very good reason to justify the tax and compliance complications.

Brendan
 
Why are you forming this partnership?

There would have to be a very good reason to justify the tax and compliance complications.

Brendan
@brendan

How can you be so dismissive, you literally know nothing about their circumstances.

We use family partnerships all the time for our clients, they are extremely effective structures for estate planning for the right family.

Yes there are costs, but where the alternative is a massive inheritance tax bill it can often be justified.
 
How can you be so dismissive, you literally know nothing about their circumstances.
Hi Marc

You seem a bit confused.

I did not dismiss it.

I asked a question. I am curious.

He may well have good reasons, or he may have some bad reasons.

And I would really like to know what the good reasons are.

Brendan
 
Brendan

I don't like to sound dismissive on your excellent forum, however I need to reply to your question without answering it.

There are very good reasons for forming this family limited partnership, but I am hardly going to discuss these on a public forum!
You may rest assured that I know what I am doing and why.
 
Hi Bluebeard

But it would be very helpful you did discuss it in general terms as it would be helpful to others for whom it might suit.

Brendan
 
Grant Thornton have written a piece about it here


And the pdf they attached is useful.

Not sure how much they cost to set up and run.

I imagine that to be worthwhile, there would have to be substantial assets.

And if there are substantial assets, the costs of running it should be a small part of the overall size of the partnership.

Brendan
 
I’ve also written a guide here


legal fees are generally around €5000 so we generally consider these to be good value around €1m plus

you need to prepare an annual partnership account and each partner must file their own tax return although for minor children/young adults these are settled by the partnership
 
I don't want to sound churlish, but the circumstances that have led me to register another Irish LP are very specific to the situation, with family partners residing in multiple countries. This is not about CAT, and has non-tax purposes. The capital of the partnership will depend on the partners' inputs over time. The cost of setting up and operating the LP and making the requisite filings is immaterial as it fits into the scope of my professional activities. But the LP needs an LEI, hence my original question. There seems to be a bit of a wild west market in these.
 
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