Investing

Reforms to secretive limited partnership structures taking ‘too long’ - transparency body

Limited partnership structures have been implicated in money-laundering scandals in Scotland, and have been identified as part of offshoring structures in the Pandora Papers

The Department of Enterprise previously said while legitimate business has availed of the limited partnership model for over a century, there is potential for the regime to be exploited. Picture: Fergal Phillips

Reforms to secretive corporate structures implicated in offshoring and money laundering have taken “too long” and need to be “robust and transparent” if they are to tackle “dirty money”, Transparency International has said.

The government first committed to reforming limited partnerships (LPs) five-years ago after the Business Post revealed the number of the secretive structures had been growing at an unexplained rate in Ireland after similar structures had been reformed in the UK.

“Irish limited ...