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Singapore – Limited Liability Partnership (LLP)
  • The Republic of Singapore is situated on a chain of islands in Southeast Asia between Thailand and Malaysia. Until 1959, Singapore was a British colony. It then joined the Federation of Malaysia for 6 years. In 1965 Singapore left the Federation and became an independent state.
  • The Singapore economy is one of the most intensively growing financial systems in the world. The country is one of the key economic centres of Southeast Asia in such areas as shipping, trade, high-tech, and financial services.
  • Singapore legislation provides for the opportunity of incorporating and operating corporate bodies with a zero rate of tax by means of the Limited Liability Partnership (LLP). A Singapore LLP with foreign members, which does not carry on a business in Singapore and derives no income on Singapore territory, is not liable to tax in Singapore. According to the tax laws of Singapore, a LLP is not considered as the separate subject of taxation. The founders ("Members") should pay taxes from the profit received by the LLP in their place of residence, in proportions according to their shares of the interest belonging to them in the LLP.

GENERAL INFORMATIONTotal area – 710 sq km
Population – 5,000,000
Location - click here to see the map of offshore jurisdictions
Political status – republic
Capital – Singapore
Official language – English, Malayan
Official currency – Singapore dollar (SGD)
Time zone – GMT + 8
Company typeLimited Liability Partnership (LLP)
Directors/OfficersSingapore LLP companies require a minimum of 2 Members, who may be natural persons or corporate bodies from any legal jurisdiction.
Each Singapore company must file a Register of its Members with the Register of Enterprises of Singapore.
ShareholdersThe legislation on Singapore LLP companies does not consider a status of shareholders.
SecretarySingapore LLP companies require a minimum of one Local Manager, who must be a natural person, a resident of Singapore and is responsible for compliance of LLP operations before local authorities.
Authorised share capital Standard authorised capital = SGD 1,000.
There is no requirement for capital to be fully or partly paid on incorporation.
Company Names The name of a Singapore company must end with the words "Limited Liability Partnership" or the suffix "LLP".
Company names containing restricted words such as "Bank", "Insurance", "Trust", "Fund Management", "Financial Institution", etc. will not be permitted unless an appropriate national operating licence has been obtained by the company.
Beneficial Ownership information Information with regard to ultimate beneficial ownership must be disclosed to the Registered Agent of a company and is held by the agent on a confidential basis.
Filing of Annual ReturnAn Annual Return must be submitted every 12 months after the date of registration.
Filing of Financial StatementsFinancial Statement must be submitted annually.
Requirement for the auditors report applies, if a turnover for a year exceeds 5.000.000 SGD.
Corporate TaxationCorporate Tax rate for Singapore LLP companies with non-resident partners is 0%.
Tax TreatiesLLP companies are not regarded as residents for tax purposes in Singapore, and therefore are not entitled to take advantage of Double Tax treaties concluded by Singapore with other countries.
Timeframe for incorporation 15/18 working days. A complete set of company documents can be delivered in 6/7 weeks.
Takeover of management & secretarial services for an existing Singapore LLP companyPossible, following verification of Beneficial Ownership and agreement with and discharge of liabilities to previous corporate service provider in Singapore.
Description of incorporation documentsClick here for itemised description of company documents.
"Ready-made"("Shelf") companiesWe are happy to register new Singapore LLP companies in accordance with client instructions.
Price of Singapore LLP companyEUR 3,960, including preparation of foundation documents, incorporation costs, the registration duty, full domiciliary (Registered Agent/Office) costs, local manager services and legal support services for one year.
Also the guarantee deposit (2.000 EUR) for preparation of financial statements and performance of legislative requirements has to be placed by the client.
Cost of annual support servicesEUR 2,750 per year, including full domiciliary (Registered Agent/Office) costs, delivery of Annual Return, Government Duty and legal support services for each year.
Also, there are additional fees for preparing of financial statement, depending on complicity of a statement.
  • INTERNATIONAL OVERSEAS SERVICES has the following comments:
  • As a non-resident of the EU, a Singapore LLP company is an appropriate instrument for the purchase of goods in EU countries and their further export to countries outside of the EU. In the event that a Singapore company is used, export from the EU becomes obvious, whereas if a company registered in any EU country is used for this purpose, the seller of the goods may not be sure whether the relevant operation is treated as export from the EU or not.
  • Singapore is not a party to the Hague Convention and hence is unable to issue an Apostille, which may be inconvenient. Consequently, in some cases Consular legalisation of corporate documents of Singapore companies may be required.