A Limited Liability Partnership (LLP) is a business vehicle that gives owners the flexibility of operating as a partnership while having a separate legal identity like a company. A LLP has the right to own property, has perpetual succession and can sue or be sued in its own name. The partners of the LLP will not be held personally liable for any business debts incurred by the LLP. A partner may, however, be held personally liable for claims from losses resulting from his own wrongful act or omission, but will not be held personally liable for such wrongful acts or omissions of any other partner of the LLP.
|START A NEW LIMITED LIABILITY PARTNERSHIP|
The step is to choose a name for the LLP and then register the LLP. This can be done in two stages or all at one go.
There is now have the option of purchasing a Special UEN (Unique Entity Number) for your LLP where you choose the numbers. A UEN is your LLP's unique identification number that will be used in all interactions with government agencies.