LIMITED LIABILITY PARTNERSHIP
LIMITED LIABILITY PARTNERSHIP                                             A Limited Liability Partnership (LLP) is a perfe...
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Limited Liability Partnership

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A Limited Liability Partnership (LLP) is a perfect blend of partnership setup and Private Limited Company. LLP gives owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company.

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Limited Liability Partnership

  1. 1. LIMITED LIABILITY PARTNERSHIP
  2. 2. LIMITED LIABILITY PARTNERSHIP A Limited Liability Partnership (LLP) is a perfect blend of a partnership setup and a Private Limited Company. The LLP allows owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company. There must be a minimum of 2 partners. However there is no limit on the maximum number of partners in a LLP. This type is highly favored by and suitable for individuals engaged in professional services such as lawyers, architects, accountants, management consultants etc. Foreign individuals and companies can form a LLP but must appoint a local manager. Citizens, Residents, Employment Pass holders, local companies can register a LLP. Advantages Disadvantages • Separate legal entity, hence partners are • Constraints in transfer of ownership not personally liable for losses or debts, or • Still does not command a distinguished image wrongful acts of other partners. However a like a private limited company partner is personally liable for claims against his personal wrongful acts or omissions. • It has perpetual succession. Any change in the partners of a LLP does not affect its existence, rights or liabilities. • Compliance requirements are simpler compared to a private limited company. • No annual return filings required for LLPs, except for income tax. Online Resources LLP Singapore | Register a Singapore LLPLast updated on 12 July 2012 Copyright © 2012 Rikvin Pte Ltd
  3. 3. Helpful Links:Company RegistrationSingapore Work VisasBusiness ServicesAccounting ServicesOffshore CompanyRIKVIN PTE LTD20 Cecil Street, #14-01, Equity Plaza, Singapore 049705Main Line : (+65) 6320 1888Fax : (+65) 6438 2436Email : info@rikvin.comWebsite : www.rikvin.comReg No 200100602KEA License No 11C3030This material has been prepared by Rikvin for the exclusiveuse of the party to whom Rikvin delivers this material.This material is for informational purposes only and hasno regard to the specific investment objectives, financialsituation or particular needs of any specific recipient.Where the source of information is obtained from thirdparties, Rikvin is not responsible for, and does not acceptany liability over the content. Copyright © 2012 Rikvin Pte Ltd

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