The Limited Partnership setup is introduced to provide an alternative option to a general partnership business setup. A limited partnership is not a separate legal entity and requires a minimum of one general partner and one limited partner. In this structure, the limited partner's liabilities are not extended beyond their investment in the business capital or property while the general partner is responsible for all liabilities incurred during the course of business.
For foreign individuals or companies who wish to set up an Limited Partnership in Singapore, they must appoint a manager who is either a Singapore citizen, resident, EntrePass or Employment Pass holder, or Depedent Pass holder.
- Minimum of 2 partners with at least 1 general partner and 1 limited partner
- No limit on maximum number of partners
- General partner has unlimited personal liability and responsible for all actions, debts and obligations of the partnership
- Limited partner is not liable for any debts and obligation beyond his agreed investment
- Not a separate legal entity
- Profits taxed at partners’ personal income tax rates if individual, or at the corporate tax rate if partner is a corporation
- Foreign individuals and companies setting up a Limited Partnership must appoint local manager
Setup Requirements for Limited Partnership
- Proposed business name
- Local business address for the proposed business
- Minimum 1 general partner + 1 limited partner
- Foreign individuals or companies setting up Limited Partnership must apply for EntrePass, or appoint local manager
How Rikvin can help you: At Rikvin, registering your Limited Partnership is extremely fast and easy with our efficient and innovative application system. As long as you provide all necessary documents and the business name for registration, your Limited Partnership can be up and running within in a day!
ABOUT THE AUTHOR:
Rikvin is the leading Singapore Employment Pass Specialists. It has successfully helped thousands of foreign entrepreneurs acquire their Singapore Subsidiary Registration . Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you're in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours. Appointments are welcome but definitely not necessary.