Usually this is handled by separating **core fund law** from **LP-specific local compliance**:

- The fund’s **governing law** controls the LPA generally
- Each LP’s local **securities, tax, AML/KYC, FX, and enforceability** issues are handled through:
- subscription documents
- local legal opinions
- side letters
- sometimes **feeder or parallel vehicles**

In practice:
- Keep the main LPA economics and governance standardized
- Customize only what is needed for each country’s regulatory or tax requirements
- Have counsel review **withholding, VAT / IVA, treaty use, capital controls, and offering rules** in each LP jurisdiction

Managers should avoid giving tax advice directly to LPs and direct them to local advisors.

References:
- https://decilehub.com/base/1-general_questions/163972-cornerstone-lpa-how-should-the-cornerstone-lpa-be-adapted-when-a-fund-is-formed-or-operates-in-latin-america-rather-than-in-the-united-states-or-europe-which-provisions-normally-require-local-legal-review
- https://decilehub.com/base/1-general_questions/163968-when-should-lp-specific-requests-be-handled-through-a-side-letter-rather-than-by-modifying-the-main-lpa