Asiabiz Services Confers Limited Liability Partnership Registration 

Asiabiz Services, a Singapore-based firm processing business solutions describes a limited liability partnership as an entity characterized by features of a partnership and a private limited company.

by Ashley Varghese Monday, February 07, 2011
Singapore assumes more investors will flock to the city-state this year. With an overall 15% growth in GDP as 2010 drew to a close, its economists believe another prolific year awaits Singapore, especially from the manufacturing sector.

Such claim is based not solely on attractive policies governing tax exemptions, incentives, and reliefs; but it also takes into account several different assistance programs for entrepreneurs, small and large.

Of late, Singapore Police Force boasts an excellent performance in enhancing the implementation of laws to preserve the peace, order, and security of the city-state, and which has compelled Mr. Hoong Wee Teck, Assistant Commissioner of Police and Director of the Criminal Investigation Department to quip: “the overall crime rate saw a downturn by 0.6% in 2010 in contrast to 2009.”

Among the crimes that registered lower number of cases are violent property crimes, housebreaking and related crimes, theft and related crimes, and crimes of concern such as unlicensed money lending and harassment, petty thefts, statutory rape, and crime against the elderly.

From the minds of businessmen, registering a limited liability partnership, among other business structures is sanguine. Asiabiz Services, a Singapore-based firm processing business solutions describes a limited liability partnership as an entity characterized by features of a partnership and a private limited company.

“Unlike a regular partnership, a limited liability partnership does not render its partners accountable for the wilful misconduct of each partner. Instead, only the partner who made unwise decisions and gross negligence can suffer the legal consequences.”

This means that all other partners are not involved and held accountable.

Asiabiz continues: “Like a private limited company, a limited liability partnership is conferred with a juridical personality, which makes the previous claim consequential.”

Singapore resolves it shall attract more foreign investments. It directs foreign individuals and corporations to engage the services of professional firms to assist them in establishing a business presence.

Registering a limited liability partnership requires the submission of documents such as a Certificate of a Business Name after it has been previously approved and registered, Particulars of the LLP partners and managers such as a Singapore ID or passport of foreign nationals, and Consent to Act as Manager and Statement of Non-disqualification to Act as Manager.

A partner may be a natural person or another company. In such case, the Registration details of the company-partner must accompany the documents mentioned above. Also, Declaration of Compliance is equally important.

The Limited Liability Partnership Act further prescribes that should the LLP be formed by all foreign individuals or companies, a Local Manager of ordinary residence ought to be appointed. Nonetheless, for foreigners seeking to register LLP and stay in Singapore to personally manage it, a prior approval from the Ministry of Manpower is a requisite.

Asiabiz Services provides other business solutions such as processing of labor passes for foreign company staff, accounting services including bookkeeping and payroll management, and nominee services.

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
Phone: +6563034614

0    submitted by Ashley Varghese
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