Asiabiz Services Provides Limited Liability Partnership and Payroll Management 

Asiabiz has been established in 1996 to help foreign investors take advantage of the entrepreneurial landscape in Singapore. Among its business solutions are business registration and payroll management services.

by Ashley Varghese Monday, February 28, 2011
A limited liability partnership provides flexibility among investors. For one thing, it allows partners to run the business like any partnerships are normally managed. The partners themselves are not accountable for the actions fellow partners may have incurred in the business, for another thing.

This is because of the juridical personality that is conferred upon a limited liability. The catch is behind the line: a partner is liable for his own decision.

Asiabiz has been established in 1996 to help foreign investors take advantage of the entrepreneurial landscape in Singapore. Among its business solutions are business registration and payroll management services.

According to the laws in Singapore, foreign nationals are not eligible to conduct legal transactions in its vicinity unless they hold a Singapore Personal Access, which is also required in registration of a business.

Says its business consultant: “Partners must furnish ACRA document such as a description of principal activities of the business, a Certificate of Company/Business Name, registered office address for the LLP, and copies of valid IDs such as NRIC, SingPass, or Passport information of foreign partners.”

The minimum number of partners required in LLP is two. These partners can be natural persons of any nationality or a business entity.

Asiabiz says that in case a business enterprise happens to be a partner, its company or business registration details must be included in the documents for registration.

In addition, limited liability partnerships that are owned by foreign partners are required to appoint a manager from among the locals.

“Should the foreign partner aspire for such position, a prior approval from the Ministry of Manpower is required,” harps Asiabiz.

Moving on, Asiabiz provides payroll management process to small and medium-scale enterprises in the city-state.

“Our system allows us to process even the most complex payroll account as such is not strange to companies here,” chimes Asiabiz, referring to the unique remuneration policy in Singapore where the government did not impose minimum wage amount and where unwarranted deductions are prohibited.

The remuneration in Singapore can be as basic as S$1,800 for foreign workers. But this is besides the perks and benefits in kind. The wages are distributed in a weekly, bi-monthly, and monthly basis with add-ons like adjustment and overtime pay and certain authorized deductions such as absences, salary loans and advances.

“Most of the companies that engaged our assistance during the registration phase decide to retain most of our business processes for convenience and cost efficiency,” concludes Asiabiz.

Other business solutions offered by Asiabiz include immigration, nominee and accounting services, as well as chartered secretaryship.

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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