the limited partnership in singapore
TRANSCRIPT
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!
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