The Limited Partnership in Singapore

A presentation brought to you by OpenCompanySingapore.com

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Partnerships in Singapore

• Partnerships in Singapore fall under the regulations of the Partnership Act issued in 1994.

• The legislation defines partnerships as the relation between two or more individuals or companies carrying out a business with the purpose of making profits. 

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Types of Partnerships in Singapore• There are three types of

partnerships in Singapore:

general partnerships;

limited partnerships;

limited liability partnerships.

• Our company registration agents can also help you open a Singapore company.

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The Limited Partnership Act in Singapore

• The limited partnership falls under the regulations of the Singapore Limited Partnerships Act established in 2008.

• The Limited Partnerships Act was last amended in 2010.

• Under the current legislation, any local or foreign citizen or company can set up a limited partnership in Singapore.

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What Is a Limited Partnership in Singapore ?

• According to the Singapore legislation, a limited partnership (LP) is required to have at least two partners, one being a general partner, who is fully liable with his own assets for the company’s debts, and a limited partner.

• The limited partner is liable only in respect to the share with which he or she has contributed to the company’s capital. 

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Requirements to Open a Singapore Limited Partnership

• Under the Limited Partnerships Act two or more individuals or companies are allowed to open a limited partnership in Singapore.

• The Singapore limited partnership is subject to the following requirements: the individuals entering the partnership must

be at least 18 years old;

the partners can be Singapore residents;

foreign partners must appoint a Singapore resident as a manager.

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Documents to Start a Singapore Limited Partnership >>

• The following documents and information must be submitted in order to register a limited partnership in Singapore:

reserve the name of the partnership;

submit information about the partners or managers;

submit proof of residential address of the partners.

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>> Documents to Start a Singapore Limited Partnership

• A limited partnership must be created by registration with the Singapore Accounting and Corporate Regulatory Authority.

• Foreign citizens or companies wanting to set up a limited partnership are required to request the services of company formation specialists in Singapore.

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Taxation of the Limited Partnership in Singapore

• The Singapore limited partnership does not pay the income tax on its incomes.

• Each partner will be taxed on their share of the income resulting from the partnership.

• If the partner is an individual, the personal income tax applies, while for companies acting as partners in a Singapore limited partnership, the corporate tax will apply.

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Assistance in Opening Partnerships in Singapore

• If you want to open a limited partnership, do not hesitate to contact our company formation agents in Singapore.

• Our agents can also help you register other types of companies in Singapore.

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Thank you for your attention!

For more information, please contact us at:+ 852 8191 3385office@lawyers-singapore.com

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