Canadian LP for investing?

A good friend in Colombia is asking me to invest in his company (he has a pretty good business plan, in my opinion); I've been researching how this can affect my tax situation in my residence country, Canada, and how I can receive dividends without major hurdles.

I found that there is a tax treaty between Colombia and Canada, and thanks to this the WHT on dividends is reduced from 33% to 15% BUT this can be reduced to 5% if I invest through a company instead of doing it as an individual.

I'm not sure if the hurdle of opening and maintaining an LP is justified for the reduced WHT, does anyone has experience with this kind of entity?