Asiabiz Services Bestows Limited Liability Partnership and Employment Pass
by Rocha Buckner Sunday, January 30, 2011
Global businesses favor Singapore to site their headquarters because of its strong trade and investment prowess.
Asiabiz Services is a business process and solutions provider based in Singapore. Founded in 1996, its nature is to abet investors do business in Singapore. One of the propitious business structures is the limited liability partnership that is an amalgamation of a partnership and a private limited company.
In an interview, Asiabiz Services says that a limited liability partnership can be formed by at least two partners that are either natural persons or corporate entities. There is no limit to the number of partners in LLP.
“Professionals rendering services in areas such as law, architecture, accounting, and management consultants are the ones that commonly form a LLP.”
She adds with a beam in her eyes: “The partners are not liable for the misconduct or gross negligence of each partner, nonetheless, each partner is accountable for his own decisions.”
Legal personality blankets the limited liability partnership and it is separate from its partners. Thence, the business itself can procure assets, earn profits, and incur liability. During liability, the resources of the errant partner such as his business shares and probably personal assets are included in accountability.
The Singapore based company continues to say that many fancy a limited liability partnership also because of its perpetual succession characteristic. “When partners change, the LLP is not affected. It continues to exist and embraces similar rights and liability.”
Should all partners be of foreign nationality, an appointment of a local manager is vital. The manager must be ordinarily resident, that means the person must either be a citizen or a permanent resident. However, since Singapore permits 100% ownership and management by foreigners, the local manager can be any of the partners or can be another foreign individual.
Asiabiz Services assists foreigners in obtaining their Employment pass so they can live and work in Singapore. By providing the necessary documents, Asiabiz shall process the application to the Ministry of Manpower.
Thereafter, the partners can open corporate bank accounts in Singapore and obtain necessary business permits and licenses. Asiabiz further helps businessmen in these requirements as well. It also lends a hand in drafting the partnership agreement outlining the shares, delegating responsibilities, and specifying the rules governing the internal management of the partnership.
Asiabiz Services is a professional firm specializing in business solutions. Its objectives are consistent with Singapore’s.
About the Publisher:
Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign entrepreneurs form a Singapore company. Among its specializations are Singapore company setup, corporate services, accounting services, nominee services, company registration, whether as a sole proprietorship, private limited, limited liability partnership; offshore company formation, incorporation of foreign companies either as a branch or subsidiary office, accounting services including payroll preparation and more.
Asiabizservices is the leading provider of Singapore Company Incorporation services and has successfully helped thousands of both local and foreign entrepreneurs Incorporate a Singapore Company. It also provides chartered secretarial services.
For more information visit:
AsiaBizServices PTE LTD
address: 120 Telok Ayer Street Singapore 068589
Singapore Company Formation Service, We provide company registration,incorporation, immigration, accounting and taxation services to entrepreneurs and businesses worldwide.
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