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Epica FAQ Series

What are the differences between an LLP (Limited Liability Partnership) and a Private Limited Company?

Business Entities

What are the differences between an LLP (Limited Liability Partnership) and a Private Limited Company?

What is the Difference between LLP and Pte Ltd in Singapore?


We are going to differentiate both in the following ways.

Tax rates

LLP is taxed at a personal tax rate; however, private limited companies are taxed at corporate tax rates.

Yearly reporting requirements

Bookkeeping and taxation are required for both these entities; however, a private limited company will have additional submissions. They have compliances such as corporate secretarial reporting, unaudited finance account submissions, and AGM. An LLP Company wouldn’t have to get into that but would have an annual solvency declaration.

No. of owners and shareholding

A private limited company can be owned by a single individual, or it can have up to 50 shareholders. In an LLP, there has to be a minimum of 2 partners up to a maximum of 20. The ownership is equally divided.

Liability

There will be no individual liability for any business debts incurred by the LLP. In case of any wrongdoing or omission, a partner will be responsible individually. There is no personal liability for debts and losses of the private limited company, and it is limited to the shareholding amount invested in the company.

Foreigner Package

New Company Setup

S$2,600
S$4,000

Local Package

New Company Setup

S$1,100
S$1,700

Transfer Package

Existing Company

S$1,000
S$1,500

Singapore Branch

New Branch Setup

S$4,000
S$5,000

Representative Office

New Setup

S$2,500
S$3,000

BVI Company

Singapore Bank Account

US$2,200
US$3,000

Accreditations and Partners

  • ACRA
  • ISCA
  • MOM
  • IRAS
  • AWS
  • XERO
  • STRIPE
  • DOCUSIGN
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