Many new business owners struggle in deciding whether to opt for a limited liability partnership or private limited company registration. Yes, this is an important decision. It can impact your liability as to the business owner and your business's taxation and statutory compliance requirements.

You need to carefully choose a business structure to register your business in Singapore. A limited liability company, like a private limited company, can limit your liability as a business owner.

Singapore Private Limited (Pte Ltd) company

A Pte Ltd company is responsible for its loss and debts. Shareholders, at the most, lose their money invested in company shares. Their personal property is not used to pay the company's debts or losses.

1-50 shareholders can come together to start a company

Singapore private limited company registration is beneficial. As a legal entity, a company can sue or be sued by others. You do not have to be part of these battles

It can buy or sell real estate or assets for its business use and pay resulting property tax

Pte Ltd company pay a corporate tax rate on its taxable income. The rates are low (0%-17%) and affordable than the personal income tax (0%-22%)

Company shares are transferrable easy to sell.

Singapore company has a credible image. Raising capital for its growth or expansion of business activities is relatively easy

Singapore company needs to abide by strict compliance requirements. It has invested in bookkeeping, accounting, and auditing of its business transactions.

ACRA, the Company Registrar, holds company directors responsible for the company's compliance

A company is governed and run as per Company Constitution

Company registration is complex and takes 1-3 days

Singapore Limited Liability Partnership (LLP)

An LLP has a separate legal identity from its members. It can also own property and assets. LLPs are generally registered by professionals with complimenting skillsets to broaden the services they can provide.

2-20 individual professionals, LLPs, or a company can register an LLP

An LLP offers limited liability protection to its members

Individual LLP members are responsible for the LLP's losses or debts incurred through their actions, in-actions, or mistakes.

Ownership in an LLP is not easily transferable

It depends on its members for credibility. Raising capital for its growth and expansion of business activities is not easy

The members' income from LLP is taxed with a personal income tax ranging from 0%-22%.

An LLP is run as per the LLP agreement signed by the members

Singapore LLP registration is easy and can be done in a day

Limited liability partnerships have their uses. Professionals and business entities mostly prefer them to come together and expand their business solution set. However, many business owners prefer private limited company registration. This business structure is dynamic and scalable. You do not have to use any other business structure once your business flourishes and expands. @sbsgroupsingapore

Allies Containers LLP

Shiboleth LLP's population is 25.

Shiboleth LLP was created in 1976.

Nabarro LLP was created in 1958.

McMillan LLP was created in 1903.

Cooley LLP was created in 2006.

The population of Davis LLP is 550.

Davis LLP was created in 1892.

Ashurst LLP was created in 1822.

WeirFoulds LLP's population is 225.

WeirFoulds LLP was created in 1860.

Goldfarb LLP was created in 2010.

Thelen LLP ended in 2008.

Thelen LLP was created in 1924.

Rollits LLP was created in 1850.

The population of Rollits LLP is 100.

TLT LLP was created in 2000.

Following is the list of all types of LLP Forms in India:

1. FiLLiP Form: This form is used for the incorporation of LLP in India.

2. Run LLP: This form is used for reserving a name for the LLP.

3. Form 3: Details regarding LLP Agreement.

4. Form 8: Statement of Account & Solvency.

5. Form 11: Annual Return of LLP.

6. Form 24: This is the application to the ROC for striking off the name of LLP.

Morrish Solicitors LLP was created in 1882.

The population of Morrish Solicitors LLP is 100.

The population of Birkett Long LLP is 140.

Birkett Long LLP was created in 1821.

Charles Russell LLP was created in 1985.

The population of Grant Thornton LLP is 2,006.

The population of Grant Thornton LLP is 7.

Grant Thornton LLP was created in 1986.

Mc Farlin LLP was created in 2003.

The population of Mc Farlin LLP is 17.

Locke Lord LLP was created in 2007.

SAS Daniels LLP's population is 120.

SAS Daniels LLP was created in 2006.

ZGF Architects LLP was created in 1942.

The population of ZGF Architects LLP is 487.

Lion Capital LLP's population is 25.

Lion Capital LLP was created in 2005.

Eide Bailly LLP was created in 1917.

LLP or Limited Liability Partnership has become a popular form of organization among entrepreneurs in India. A Limited Liability Partnership gives the benefits of a Company & a Partnership Firm. An LLP in India is a Partnership Firm established by at least 2 Partners who enter into an LLP Agreement. However, the LLP Partner have limited liability and the LLP has perpetual succession just like a Company.

Artemis Investment Management LLP was created in 1997.

As of my last update, Nabarro LLP no longer exists as an independent entity. It merged with CMS Cameron McKenna and Olswang in 2017 to form CMS UK. The population of Nabarro LLP as a standalone entity is not available.

Bradley Arant Boult Cummings LLP was created in 1871.

The advantages of registering an LLP in India include:

Limited Liability: Partners' liability is limited to the extent of their contribution to the LLP.

Separate Legal Entity: The LLP is a separate legal entity from its partners, allowing it to own assets, incur liabilities, and enter into contracts.

Flexibility in Management: Partners have the flexibility to manage the LLP as per the LLP agreement without adhering to stringent regulations.

No Minimum Capital Requirement: There is no minimum capital requirement to start an LLP.

Tax Benefits: LLPs enjoy certain tax advantages and exemptions, such as not being subject to dividend distribution tax.

In case the turnover is up to Rs. 250 Cores, the tax slab for the LLP raises to 30%.

The key steps involved in registering an LLP in India are:

Obtain Digital Signature Certificate (DSC): Partners must obtain DSCs for signing electronic documents.

Apply for Director Identification Number (DIN): Partners need to apply for DINs, which can be done through the LLP registration process.

Name Reservation: Submit the desired LLP name for approval through the RUN-LLP service on the MCA portal.

Filing Incorporation Documents: File Form FiLLiP (Form for incorporation of LLP) with required documents, including the LLP agreement.

Obtain Certificate of Incorporation: Once the application is verified and approved, the Registrar of Companies (ROC) issues the Certificate of Incorporation.

Filing LLP Agreement: The LLP agreement must be filed within 30 days of incorporation using Form 3.

There is no such degree that I am aware of. However LLP might signify a Limited Liability Partnership, a form of legal business partnership.

Mc Farlin LLP's motto is 'Helping Consumers, Protecting Small Businesses, Stabilizing Communities'.

Yes, there are procedures for converting a Partnership business into a Company or a LLP at a later date. However, the procedures to convert a Partnership firm into a Company or LLP are cumbersome, expensive and time-consuming. Therefore, it is wise for many entrepreneurs to consider and start a LLP or Company instead of a Partnership firm.

The mutual rights and duties of partners inter se and those of the LLP and its partners shall be governed by the agreement between partners or between the LLP and the partners. This Agreement would be known as "LLP Agreement".

AlixPartners, LLP is owned in part by the Hellman & Friedman Portfolio Company and in part by the board of directors and other employees.

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