Limited Liability Partnership Registration Package
If you’re looking to setup a partnership, but also to enjoy the features of a Private Limited Company setup, then a Limited Liability Partnership (LLP) is just the business model you need.
An LLP gives a company the perks of operating as a partnership while it enjoys a separate legal identity. This perfect blend of a Partnership with a Private Limited Company setup is great for individuals who provide professional services such as lawyers, architects, accountants and management consultants.
All Singapore citizens, residents, and employment pass holders can register an LLP. Foreign individuals and companies can also register an LLP by appointing a local manager for the company incorporation.
Forge a strong business partnership with our strengths
Why you should incorporate a Limited Liability Partnership
- Independent legal identity
- Appointed partners can be individuals or corporations
- Partners not liable for wrongful commission or omission from any other partners
- Mutual rights and duties of LLP and its partners are governed by its partnership agreement
- LLP not taxed at entity level
- Profits regarded as a part of the partners’ personal incomes and subject to personal income tax rates
How AsiaBiz can help you
All foreign individuals must appoint a professional incorporation firm – AsiaBiz, to facilitate the registration process while it is highly recommended that Singapore residents and citizens do the same. AsiaBiz can help you draft a concise partnership agreement that establishes the internal structure and profit-sharing arrangement among partners.
The registration process – Name reservation and registration of the entity, can be completed within one working day.
What you need to set up an LLP
- A minimum of 2 Partners
- 1 Singapore-based Manager
- Registered office address in Singapore
*If the partner is an individual, his share of income from the LLP will be taxed based on his personal income tax rate. If the partner is a company, its share of income from the LLP will be taxed based on the tax rate for companies.