This is a question for Canadian searchers, or those planning to search, in terms of how they navigated the legal structure of their search fund.

We do not have US style LLC's here which are the preferred vehicles in the US. However, setting up a corporation that is a GP in a Limited Partnership serves a similar function. Due to my previous experience in RE PE, I know how costly LPs are to setup and I don't see many searchers spending the 6 figures required to execute a proper LP. What is the typical legal structure in Canada for a search fund? Corp + LP, Corp (investors own restricted or common shares, etc)?