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.
The Registrar must be notified whenever there are changes in the LLP name, address, business activities or if there are changes to the particulars of the LLP partners or manager. The notification of change must be lodged with the Registrar online within 14 days from the date of change. There is no fee payable when filing these changes. However a penalty may be imposed for late filing.