ACRA New Business Vehicle – Limited Partnerships

Come May 4th, individuals looking to incorporate in Singapore have a new option as to the type of company incorporated. Currently we have 4 types: Sole Proprietorship, Partnership, Limited Liability Partnership (LLP), Company. Soon, we’ll have Limited Partnerships (LP) to add to the basket.

IF YOU WANT TO…

Incorporate a company yourself: Sole Proprietorship or Company.
Be able to sue (and thus be sued in its own name): LLP or Company.
Not be personally liable for debts and losses: LLP (liable for your own, but not for other partners), Company, LP (if you’re a Limited Partner).
Own property: LLP or Company.

For more details, this ACRA table is a great compare-and-contrast amongst the 5 types of business vehicles.