the limited partnership in singapore
TRANSCRIPT
![Page 1: The Limited Partnership in Singapore](https://reader035.vdocument.in/reader035/viewer/2022062901/58f1505f1a28aba93f8b4645/html5/thumbnails/1.jpg)
The Limited Partnership in Singapore
A presentation brought to you by OpenCompanySingapore.com
1
![Page 2: The Limited Partnership in Singapore](https://reader035.vdocument.in/reader035/viewer/2022062901/58f1505f1a28aba93f8b4645/html5/thumbnails/2.jpg)
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.
2
![Page 3: The Limited Partnership in Singapore](https://reader035.vdocument.in/reader035/viewer/2022062901/58f1505f1a28aba93f8b4645/html5/thumbnails/3.jpg)
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.
3
![Page 4: The Limited Partnership in Singapore](https://reader035.vdocument.in/reader035/viewer/2022062901/58f1505f1a28aba93f8b4645/html5/thumbnails/4.jpg)
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.
4
![Page 5: The Limited Partnership in Singapore](https://reader035.vdocument.in/reader035/viewer/2022062901/58f1505f1a28aba93f8b4645/html5/thumbnails/5.jpg)
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.
5
![Page 6: The Limited Partnership in Singapore](https://reader035.vdocument.in/reader035/viewer/2022062901/58f1505f1a28aba93f8b4645/html5/thumbnails/6.jpg)
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.
6
![Page 7: The Limited Partnership in Singapore](https://reader035.vdocument.in/reader035/viewer/2022062901/58f1505f1a28aba93f8b4645/html5/thumbnails/7.jpg)
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.
7
![Page 8: The Limited Partnership in Singapore](https://reader035.vdocument.in/reader035/viewer/2022062901/58f1505f1a28aba93f8b4645/html5/thumbnails/8.jpg)
>> 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.
8
![Page 9: The Limited Partnership in Singapore](https://reader035.vdocument.in/reader035/viewer/2022062901/58f1505f1a28aba93f8b4645/html5/thumbnails/9.jpg)
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.
9
![Page 10: The Limited Partnership in Singapore](https://reader035.vdocument.in/reader035/viewer/2022062901/58f1505f1a28aba93f8b4645/html5/thumbnails/10.jpg)
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.
10
![Page 11: The Limited Partnership in Singapore](https://reader035.vdocument.in/reader035/viewer/2022062901/58f1505f1a28aba93f8b4645/html5/thumbnails/11.jpg)
Thank you for your attention!
For more information, please contact us at:+ 852 8191 [email protected]
www.opencompanysingapore.com11