为什么区域中心采用有限合伙的形式?| EB-5专家解析

在EB-5区域中心项目中，我们会看到，在项目文件中有一份是叫认购协议（Subscription Agreement），也就是确认EB-5投资者以有限合伙人（LP）的身份，通过50万美元的投资参与到有限合伙企业，最终将资金投入项目公司。那么为何都是通过有限合伙企业的方式来进行投资，EB-5投资者又承担怎样的责任，今天EB5Sir找来的这篇文章是Vaughan de Kirby律师，就此商业形式在EB-5融资中的作用所做的专业解释，供各位朋友们参考。

问：为什么EB-5区域中心采用有限合伙的形式会那么常见？

答: 很多打算投资的EB-5投资人可能发现，绝大多数区域中心购买一个有限合伙企业的所有者权益。这究竟意味着什么，这又会怎样影响EB-5投资人管理他们投资的能力？

有限合伙的定义

有限合伙企业是拥有两种所有人，即普通合伙人（GP）和有限合伙人（LP）的企业。

普通合伙人（GP）通常负责企业的日常管理，在企业担任更重要的职责。他们还拥有大多数的决策责任，并承担企业的责任。这意味着，在企业失败或有法律问题时，他们对所有的企业债务承担个人责任。

相反，有限合伙人（LP）拥有较少的决策权力，以及较少的义务。有限合伙人在企业里不承担积极的角色。举例来说，有限合伙人不能代表有限合伙进行任何商业交易。这种限制也保护有限合伙人免予承担责任风险。他们只就他们向企业的投资额承担责任，不会被迫用自己的资产支付企业债务。

区域中心经营

有限责任合伙通常具有独特的优势，包括更简单的税制，有限的监管和更大的灵活性。然而，为什么大多数区域中心专门采取有限合伙的组织形式，其核心原因是，EB-5投资的目标使有限合伙非常适合大多数EB-5投资者。

EB-5投资者希望有资格为自己和/或他们的家庭成员获得绿卡，并进行明智的投资，希望能在规定的期限结束时投资本金获得返还。大多数EB-5投资者对于在美国开办或长期管理一个企业不感兴趣，他们更偏向比较“被动”的投资策略，同时仍然满足于EB-5项目规定的“积极管理”的要求。

虽然有限合伙人（LP）不保留对他们的投资基金怎样分配的控制权，但有限合伙人（LP）的角色与普通合伙人（GP）相比，承担显著较少的工作和责任，同时还提供非常宝贵的法律责任的保护。EB-5投资者可以高枕无忧，因为他们知道在任何情况下，他们超出50万美元投资的个人资产都不会受到威胁。他们可能失去的最多的是他们投资企业的资金。

此外，有限合伙企业允许EB-5投资者，在不损害合伙企业的法律地位的情况下，撤出他们的资金。一旦所需的投资期过去，投资者已经获得无条件绿卡，投资者可以离开合伙，这通常是大多数EB-5申请人的最终目标。

原文作者：Vaughan de Kirby律师。

Why Limited Partnerships Are So Common in EB-5 Regional Centers

Many EB-5 investors who are ready to make an investment will likely find that the vast majority Regional Center means purchasing an ownership interest in a Limited Partnership. What exactly does this mean and how does that affect an EB-5 investor’s ability to manage their investment?

Definition of a Limited Partnership

Limited Partnerships are businesses that have two different types of owners, the General Partner, and the Limited Partners.

The General Partners will typically take on a greater role in the buisness by being responsible for the day-to-day management of the business. They also have a majority of the decision-making responsibilities but also take on the liability for the business. This means that they are personally liable for any business debts in the event of failure or legal problems.

On the other hand, Limited Partners have less decision-making power but also less liability. Limited Partners do not play an active role in the business. For instance, Limited Partners cannot make any business deals on behalf of the limited partnership. This limitation also protects Limited Partners from exposure from liability. They are only liable up to the amount they invested in the business and cannot be forced to pay for business debts with their own assets.

Regional Center Operations

Limited Partnerships in general have distinct advantages, including simpler taxation, limited regulation and more flexibility. However, the core reason why the majority of Regional Centers are formed specifically as Limited Partnerships is that the role of a Limited Partner is ideal for most EB-5 investors because of their goals.

EB-5 investors want to qualify for a green card for themselves and/or for their family members and make a sound investment that will hopefully provide a return of their principal investment at the end of the required period. Most EB-5 investors are not interested in starting or managing a business in the U.S. for the long term and prefer a more “passive” investment strategy while still satisfying the “active management” requirement outlined in the EB-5 program.

Although Limited Partners do not retain control over how their investment funds are allocated, the role of Limited Partner entails significantly less work and less responsibility than for the General Partners while also providing invaluable liability protection. EB-5 investors can rest easy, knowing that their personal assets beyond the $500,000 investment are not at stake under any circumstances. The most they can lose is the amount they invested in the business.

In addition, limited partnerships allow EB-5 investors to withdraw their capital without jeopardizing the legal status of the partnership. Once the required investment period is over, and the investor has received an unconditional Green Card, the investor can leave the partnership—which is usually the ultimate goal

EB5Sir，在区域中心和律所工作多年，现同朋友们一起分享行资讯，欢迎各位朋友的意见和建议。转载本微信文章时，请务必在所刊发文章的开头或结尾醒目处，注明“原文作者：EB5Sir”或“文章来源：微信公众号“EB-5美国投资移民一点通”，谢谢理解。