What is LLP?
LLP stands for limited liability partnership. By registering an LLP, you can operate your business as a partnership, while at the same time granting it the status of a separate legal person. According to IRAS, an LLP will be regarded in law as “bodies corporate” that is formed by being registered under the LLP Act.
LLP will be considered a partnership instead of being a separate legal entity when it comes to income tax. With this in mind, please note that an LLP is not liable to be taxed at the entity level. Rather, each partner will be taxed differently depending on his/her share of their business income from the LLP. To find out more about how you will be taxed, please click here to find out how to calculate the personal income tax rate for tax residents.
To take advantage of the $100,000 profit tax exemption, foreigners should always consider setting up a Private Limited Company, They should also declare final dividends to avoid being taxed at 20% of trading profits drawn in the capacity as partner of LLP.
We specialize in Same Day Express LLP Singapore Registration. (Subjected to ACRA approval)
Our LLP Singapore Formation package costs *$598 includes: (*Jointly owned by Singaporean / Permanent Residents or Locals registering LLP with Foreigners)
- * Professional Fees for form the Limited Liability Partnership.
- * ACRA Incorporation fee.
- * FREE 1 Round Self-inking stamp
- * FREE 12 Months Shared Fax
- * FREE 12 Months Address
- – Free Daily Mail Alert sent via Email.
– Free Shared Fax Number for 12 Months with minimum 12 Months Address Service Signup.
- – Free 30 days trial version of MYOB Premier Accounting Software
Total Fees after Discount: S$598
*If you only need our services solely to setup the Limited Liability Partnership, the fees would be S$568, *inclusive of ACRA Fees*.
Bank account opening subjected to banks’ approval.
The above service is only for 2 partners, there will be an additional S$80 charge for every additional partner.
Information Required For LLP Singapore Formation:
- 2 Proposed LLP Names.
- Description of Principal Activities (Maximum of 2 activities).
- Location of Registered Office – A.1 Business Office or your physical office.
- Managers NRIC Copy (Only Singaporeans / PRs can be the local Managers).
- Partners – NRIC copy for locals, passport copy and proof of foreign address for foreigners.
Read more on: Singapore Company Incorporation