The Limited Liability Partnership in SingaporeA presentation brought to you by OpenCompanySingapore.com

1

Starting a Partnership in Singapore

• Singapore has an attractive business environment for foreign investors.

• For those interested in opening a business in Singapore, they can choose the  partnership, which is one of the most preferred legal entities.

2

Types of Singapore Partnerships

• There are three types of partnerships in Singapore:

3

• For more information on the legislation on  partnerships  you can ask our company formation agents in Singapore.

general partnerships;

limited partnerships;

limited liability partnerships.

The Singapore Limited Liability Partnerships Act

• Limited liability partnerships (LLP) in Singapore fall under the regulations of the law with the same name.

• The Limited Liability Partnerships Act was introduced in 2005 in the Singapore Commercial Law. 

• The advantage of the LLP is that it is a separate legal entity from its owners, so their liability is limited to their investments in the company.

4

Opening a Singapore Limited Liability Partnership >>

• The limited liability partnership must be formed by at least two partners.

• There is no limit to the number of partners in a Singapore LLP.

• As mentioned above, the partners can be companies or natural persons, or a combination between the two parties.

5

>> Opening a Singapore Limited Liability Partnership

• A limited liability partnership must have at least one manager who is a natural person and Singapore resident or citizen.

• The Singapore partnership’s name must contain the phrasing “limited liability partnership” or the acronym ‘LLP’. It must also have a registered address in Singapore.

6

Documents for Starting a LLP in Singapore

• The following documents must be filed with the Accounting and Corporate Regulatory Authority in order to open a LLP in Singapore:

7

the partners’ IDs or passports;

the partners’ proof of residential address;

the name and details of the proposed manager;

a Consent to Act as Manager letter and a Statement of Non-Disqualification;

a statement of compliance.

Taxation of the Singapore Limited Liability Partnership

• The Singapore limited liability partnership implies the taxation of each partner on their share of the income resulting from the partnership.

• If the partners are natural persons they will be subject to the personal income tax.

• Companies acting as partners in a Singapore LLP will be subject to the corporate tax.

8

Assistance in Starting a LLP in Singapore

• According to the Singapore Limited Liability Partnership Act, any local or foreign companies or individuals may establish LLPs in the city-state.

• For assistance in opening a company in Singapore you can request the services of our local representatives.

9

Thank you for your attention!

For more information, please contact us at:

+ 852 8191 3385

office@lawyers-singapore.com

www.opencompanysingapore.com10