What is Limited Liability Partnership (LLP)?
Limited Liability Partnership (LLP) is an alternative business structure regulated by the 2012 Limited Liability Partnership Law, which combines the characteristics of a company and a traditional partnership. A Limited Liability Partnership (LLP) provide with the protection of limited liability to its partners. It is the most common structure formed by professionals such as Lawyers, Chartered Accountants and Company Secretaries for the purpose of carrying on their professional practice. It is a more structured business vehicle compared to a sole proprietorship or a conventional partnership.
LIMITED LIABILITY PARTNERSHIP
- Registration Services Includes
- Unlimited Name Search
- Registration Fee Payable to SSM
- Free Standard LLP Agreement
- Free 3 Sets of Certified Copy of Registration Forms
- Free LLP Certificate of Registration with SSM
- Free 1 Set of Open Bank Account Resolution
- Professional Advice on Statutory and Accounting
Why Register Limited Liability Partnership?
SEPARATE LEGAL ENTITY
To protects the member’s personal assets from the liabilities of the business.
FLEXIBILITY
The operation of the partnership and profit sharing is determined by written partnership agreement between the members.
CORPORATE OWNERSHIP
Can appoint two companies as members of the LLP.
LOW INCOME TAX RATE
Lower income tax rate compared to conventional partnership
LOW MAINTENANCE
Lowest and cheapest annual maintenance.
CORPORATE OWNERSHIP
Can buy, rent, lease, own property, employ staff, enter a contract, and be held accountable if necessary.