Limited Liability Partnership

Features and Pricing

Package

ECRA Advantage Package worth $300

The ECRA Advantage Package is FREE only if Registered Office Address option is taken.

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How it works

An LLP combines the features of a Limited Limited Company and a Partnership.  It provides the legal status of a typical private limited company while offering the flexibility and simplicity of a partnership.  LLPs are the preferred business entity for professionals such as lawyers, accountants, engineers, architects and other such consultancy, advisory and management firms.

LLP Registration

Requirements for LLP

  • At least 2 Partners (Residents or Non-Residents)
  • At least one manager who must be a Singapore resident
  • A local registered office address

Documents required for registering LLP

  • Proposed LLP name
  • Personal particulars of each partner
  • Written consent to act as manager, if required

Features of LLP

Who can be a partner?

  • Residents (Singapore citizens, Permanent Residents or Work Visa holders)
  • Non-Residents
  • Corporations (local or foreign companies)
  • Other LLPs

Features of a LLP

  • It has a separate legal entity therefore individual partners are not personally liable for losses or debts
  • Each Partner has limited liability according to his share of the Partnership and personally liable for his own misdeeds
  • Each partner is not liable for any misdeeds of the other partners
  • Minimum of 2 partners, no maximum limit
  • Partners can be individuals or body corporate (company or other LLP)
  • At least ONE local resident manager must be appointed
  • Annual filings are NOT required for LLPs.
  • LLPs are not required to pay corporate tax.  Instead each partner is taxed personally under Personal Income Tax.
  • LLPs survive the death of its partners.  Ownership can be transferred or willed as inheritance.  Changes in ownership of the partnership does not affect it’s status, rights or liabilities.