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The Limited Liability Partnership in Singapore

Updated on Sunday 19th June 2016

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The-Limited-Liability-Partnership-in-SingaporeThe Limited Liability Partnerships Act in Singapore

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. Compared to other types of partnerships in Singapore, the main advantage of the LLP is that it is a separate legal entity from its owners therefore their liability will be limited to their investments in the company.

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 our specialists in company formation.

Registering a limited liability partnership in Singapore

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. Unlike Singapore companies, the LLP does not have a director or a secretary, the business being conducted by the partners. However, 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.

The video below shows the main steps to open a LLP in Singapore:

Documents required to open a LLP in Singapore

The registration procedure for a limited liability partnership resembles the company incorporation procedure in Singapore. First, the owners or their representatives must reserve a business name with the Accounting and Corporate Regulatory Authority (ACRA) in the city-state. The second step is to submit the following documents with ACRA:

  • -          the partners’ details by providing their 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.

If one of the partners is a company, it must provide the Certificate of Incorporation.

For complete information about setting up a limited liability partnership you can contact our Singapore consultants in company registration.

 

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