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Limited Liability Partnership (LLP)

Limited Liability Partnership (LLP)

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  • Release time:2023-03-23 14:17:39
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D)Limited Liability Partnership (LLP)

In a limited liability partnership (LLP), a type of general partnership, each member is only partially personally liable for the partnership's debts. Partners are not responsible for the contractual debts of their fellow partners, but depending on the state, they may be.


Limited Liability Partnership (LLP)

Requirements

— Registered by a Singapore Citizen, Singapore Permanent Resident, or an eligible FIN holder who is at least 18 years old with local residential address

— Registration must be renewed annually

Benefits

— Partners of the LLP will not be held personally liable for any business debts incurred by the LLP or the wrongful acts of another partner.

Information Required

— Proposed LLP name

— Particulars of the LLP partners/managers as per the foreign passport or Singapore identity card

— Residential address of the LLP partners/managers

— Declaration of compliance

— Details of the registered address for the LLP

— Consent to Act as Manager and Statement of Non-Disqualification to Act as Manager

— In case the partner is a company: Registration details of the company such as registration number, jurisdiction, registered address, etc.


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