A Limited Liability Partnership (LLP)is a perfect combination of features of Partnership with Private Limited company setup. It offers ease and flexibility of operating a partnership while it retains a separate legal identity from partners.
 

Eligibility of Limited Liability Partnership 

• Minimum of 2 partners, who can be individual or body corporates (company or other LLP)

• Minimum of one Singapore Resident manager

• A Singapore registered office address
   

Features of Limited Liability Partnership 

• It is a Separate Legal Entity

• Partners has limited liability

• Minimum of 2 partners, no maximum limit

• Partners can be individuals or body corporates (company or other LLP)

 

Benefits of Limited Liability Partnership

• ​Ease of setup – Quick, easy and inexpensive one-time registration

• Separate Legal Entity - partners are not personally liable for losses or debts, or wrongful acts of other partners. However, a partner is personally liable for claims against his personal wrongful acts or omissions

• Lesser compliance requirements and administrations than a company

• No Statutory requirement for General Meetings, Directors, Company Secretary, Share Allotments etc

• An annual declaration of solvency must be lodged by one of the managers stating whether the LLP is able or not able to pay its debts during the normal course of business

• No Annual Filing – except for income tax

• Perpetual Succession – Any change in the partners of a LLP does not affect its existence, rights or liabilities
   

Disadvantages of Limited Liability Partnership 

• Does not command a distinguished image as a private limited company

• Tax - earnings are charged at personal income tax rates for partners. If a partner is a company, its share of profit will be taxed at corporate tax rate 
   

How to setup a Limited Liability Partnership in Singapore? 

Our service for registering a Limited Liability Partnership includes:

• Performing a Business Name check availability

• Follow up with queries and advise accordingly, if any

• Preparation of application forms

• ACRA Business profile upon successful registration

• Open a corporate bank account, if required

 
Key Requirements for business registration

Limited Liability Partnership can normally be registered within 45 minutes. Requirements of setting up a Limited Liability Partnership are:

• Minimum of 2 Partners

• Proposed business name

• A Singapore Registered Office address

• For foreign individuals and companies only - minimum one manager who must be a Singapore resident

• All business owners and local representative to be present at our office

• Bring along NRIC and/or passport of all owners and local representatives.

• Brief description of business activities