the general partnership in singapore

The General Partnership in Singapore

A presentation brought to you by OpenCompanySingapore.com

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Partnerships in Singapore

• Partnerships in Singapore fall under the regulations of the Partnership Act issued in 1994.

• The legislation define partnerships as the relation between two or more persons carrying out a business with the purpose of making profits. 

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Types of Partnerships in Singapore

• There are three types of partnerships in Singapore:

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general partnerships;

limited partnerships;

limited liability partnerships.

What Is The General Partnership in Singapore ?

• The general partnership has no distinct legal status from its founding members and the partners have unlimited liability for the Singapore company’s debts and responsibilities. 

• General partnerships with more than 20 partners must re-register as company.

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Requirements to Open a Singapore General Partnership

• The Singapore general partnership must have a minimum number of two partners and a maximum number of 20.

• The following requirements apply when opening a partnership in Singapore:

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the partners must be at least 18 years old;

the partners can be Singapore residents;

foreign partners must appoint a Singapore resident as a manager.

Documents to Start a Singapore Partnership >>

• The following documents and information must be submitted in order to register a general partnership in Singapore:

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reserve the name of the partnership;

submit information about the partners or managers;

submit proof of residential address of the partners.

>> Documents to Start a Singapore Partnership

• The other documents require to register a Singapore general partnership are:

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• The documents must be submitted with the Singapore Accounting and Corporate Regulatory Authority.

a consent to act as a manager for the Singapore partnership,

a declaration of compliance.

Taxation of the General Partnership in Singapore

• The Singapore general 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 general partnership, the corporate tax will apply.

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Assistance in Opening a Partnership in Singapore

• If you want to open a general 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.

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Thank you for your attention!

For more information, please contact us at:+ 852 8191 3385office@lawyers-singapore.com

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