open a limited liability partnership in singapore
TRANSCRIPT
Open a Limited Liability Partnership in SingaporeA presentation brought to you by Lawyers-Singapore.com
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What Is a Singapore Limited Liability Partnership?
• Limited liability partnerships (LLP) in Singapore fall under the regulations of the Limited Liability Partnerships Act.
• The LLP is a separate legal entity from its owners.
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Traits of a Singapore Limited Liability Partnership >>
• A LLP in Singapore requires at least two partners, who can be individuals or companies.
• The LLP is a separate legal entity and the partners have limited liability on the company’s debts.
• A partner in a LLP is only accountable for the liabilities that arise from his own mistakes or negligence.
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>> Traits of a Singapore Limited Liability Partnership
• The LLP is characterized by the fact that the partners are responsible to run the business.
• A LLP in Singapore does not stipulate naming directors or shareholders.
• The LLP should have a manager who is a Singaporean citizen or has an employment pass).
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Register a Limited Liability Partnership in Singapore >>
• The LLP is registered by the Accounting and Corporate Regulatory Authority (ACRA).
• Foreign investors are required to appoint a local legal services provider or a law firm in Singapore in order to register a company.
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>> Register a Limited Liability Partnership in Singapore
• The investors should reserve the trade name they want for their limited liability partnership and to register the company, by providing a set of documents.
• The registration process starts by
filing an online application, which can be processed on the online platform BizFile, provided by ACRA.
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Documents Required to Register a LLP in Singapore
• When opening a LLP in Singapore, you must provide the following documents:
the proposed name of the partnership;
information on the partners, including passport/Singaporean ID data;
the address of the partners;
declaration of compliance.
• Our Singapore lawyers can help you draft the documentation.
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Advantages of Singapore Limited Liability Partnerships• This type of partnership is suitable for
both natural and legal persons.
• Another advantage of the Singapore LLP is that it is a separate legal entity from its owners therefore their liability will be limited to their investments in the company.
• Our lawyers in Singapore can provide you with more information about why you should open a LLP.
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Assistance in Setting Up a Singapore LLP
• If you need information on the limited liability partnership, please contact our team of lawyers for assistance.
• Our lawyers in Singapore can provide you with assistance for the incorporation of a limited liability partnership (LLP).
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Thank you for your attention!
For more information, please contact us at:+ 852 8191 3385
www.lawyers-singapore.com10