DP SME Advisory - Registration of LLP

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Registration of Limited Liability Partnership (LLP)

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Entity Type	Limited Liability Partnership (LLP)
Definition	A partnership where the individual partners’ own liability is generally limited
Owned By	At least two partners, no maximum limit Partners can be individuals or body corporates (company or other LLP)
Legal Status	A separate legal entity from its partners Can sue or be sued in its own name Can own property Partners personally liable for debts and losses resulting from their own careless actions Partners not personally liable for debts and losses of LLP incurred by other partners
Formation Requirements	At least two partners, who can be an individual (at least 18 years old) or body corporates (company or other LLP) At least one manager who is an individual “ordinarily resident” in Singapore (at least 18 years old and not disqualified under the Companies Act)
Formalities and Expenses	Quick and easy to set up Fewer formalities and procedures to comply with than a Company Registration cost is lower and fewer regulatory duties to adhere to, compared with a Company No statutory requirement for general meetings, directors, company secretary, share allotments, etc. Only an annual declaration of solvency must be lodged by one of the managers stating whether the LLP is able or not able to pay its debts during the normal course of business One-time registration
Taxes	Profits are taxed at partners’ personal income tax rates
Continuity and Transferability	The LLP has a legal personality separate from its partners The LLP has perpetual succession
Closing Down	Winding Up – Voluntarily by members or creditors, compulsorily by the High Court Striking Off

Our service for registering a Limited Liability Partnership includes:

Name check
Preparation of application forms
Provide basic advisory on business entity enquiries (if any)
ACRA Business Profile after successful registration

All business owners and manager to be present at our office: 10 Kallang Avenue, #05-17 Aperia Tower 2, Singapore 339510, personally.
Bring NRIC and/or Passport of all partners and manager;
Get ready your (a) Proposed Entity Name; (b) Description of your business activities and (c) Registered Office Address for your Limited Liability Partnership;
Upon receiving payment, we will prepare and file the LLP incorporation on your behalf. Once the LLP has been successfully incorporated, you may proceed to open a corporate bank account.

If you are unable to visit our office, or have further enquiries, email us now!

Registered Office Service: EVERY business/company must have a registered office in Singapore which must be operational and accessible to the public during normal office hours. Please note that a P.O. Box address cannot be used as a business address. If you do not have one, check out our Registered Office Service.
Accounting, Tax & Payroll Service: Need help to keep proper account records for your business, perform tax computations and submit your Personal Income Tax Filing to IRAS? DP SME Advisory offers book-keeping and tax services for business owners to fulfill compliance to IRAS. Check out our Accounting, Tax & Payroll Services.

Hotline: 6829 9800
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10 Kallang Avenue, #05-17 Aperia Tower 2, Singapore 339510

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DP SME Advisory gives very accurate and reliable information regarding business setups and corporate secretarial services. The staff are professional and warm. We have been with DP SME Advisory for several years now and the quality and reliability of the service is the reason why we chose DP SME Advisory.
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