Key regulatory requirements for limited liability partnership (LLP)

Key regulatory requirements for limited liability partnership (LLP)

This guide provides an overview of the key regulatory requirements that limited liability partnerships (LLP) need to comply with.

• Requirements during LLP registration

  Requirements during LLP registration

  

  When registering your LLP:

  Before registering your LLP, determine your business activities (SSIC code), business structure and address.

  Apply for Business Name with ACRA.

  Register your LLP with ACRA.
  When registering your LLP, appoint at least two partners and at least one manager who is a local resident in Singapore, a natural person of full age (i.e. at least 18 years old) and of capacity.

  After registering your LLP:

  After you have received your UEN, register for a Corppass admin account to gain access to all the government services.

  Set up Register of Registrable Controllers (RORC) within 30 days and file the RORC information with ACRA within 2 business days after the RORC has been setup unless you are exempted.

  Registrable controllers (RC) in your LLP can exercise significant influence or control over your LLP.

• Ad hoc requirements

  Ad hoc requirements

  

  Register for GST if taxable turnover has:

  • exceeded $1 million at the end of the calendar year or
  • you expect taxable turnover to exceed $1 million in the next 12 months.

  Submit an incident report with Ministry of Manpower’s WSH Incident Reporting system, if a work-related accident has happened within 10 days of the incident.
  For fatal accidents or dangerous occurrences, notify MOM immediately at mom_oshd@mom.gov.sg.

  Update ACRA if there has been any change to the RORC information (within 2 business days after updating your RORC), in your LLP, or LLP officer’s information (within 14 business days).

  Update MOM when your staff, who are work pass holders, change their residential address within 5 days of any change.

• Monthly requirements

  Monthly requirements

  

  If your business hires foreign workers:

  View your MOM Foreign Worker Levy bill by the 6th of every month.

  Payment for the Foreign Worker Levy will be made via Giro by the 17th of each month.

  If your business hires Singapore Citizens and Permanent Residents (SPR):

  Make employee CPF monthly contribution and Skills Development Levy (SDL) payment by the last day of each month. Action will be taken against employers who fail to pay by the 14th of the following month.

• Quarterly requirements

  Quarterly requirements

  

  Update MOM's Occupational Employment Dataset (OED)

  By the 14th day after the end of each quarter, remember to update the OED on changes to the occupational and employment details of your employees.
  To allow MOM to shape manpower policies, businesses are required to provide MOM with updated details of your workforce’s occupational and employment details via the OED portal every quarter. Read more about OED.

  

  File and Pay your GST

  If your company is GST-registered, e-file your GST F5 via IRAS’ Seamless-Filing-From-Software (#SFFS) or myTax Portal within 1 month from the end of the GST accounting period.

  Most GST-registered businesses file GST returns on a quarterly basis. The start and end of each quarterly period is dependent on your Financial Year End (FYE).

  For example:
  Partnership A
  Financial Year ends in December
  

  • For the quarterly GST accounting period of 1 Jul - 30 Sep, they would have to e-file their GST F5 and make payment by 31 Oct if they are not on GIRO.
    
  • Alternately, if the LLP has a GIRO arrangement with IRAS, e-file by 31 Oct and payment deduction will take place on 15 Nov.
• Yearly requirements

  Yearly requirements

  

  From your second financial year

  Submit employees income information

  By the 1st Mar of your 2nd year, submit employees income information electronically to IRAS if on Auto-Inclusion Scheme (AIS) for Employment Income. Otherwise, provide Form IR8A and appendices (where applicable) to employees.

  

  File your Estimated Chargeable Income (ECI)

  Your partnership entity should file your Estimated Chargeable Income within 3 months of your Financial Year End (FYE) if business receives notification to file.

  Receive Allocation of Estimated Profit/Loss to Partners within 7 days after ECI filing.

  File your annual declaration with ACRA

  File first Annual Declaration within 15 months from the date of the registration of the LLP.

  Subsequent declarations must be lodged once every calendar year and not more than 15 months after the lodgment of the last declaration.

  File your partnership income tax

  Your partnership must file its partnership income tax return (Form P) between 1 Feb to 18 Apr. If a partnership e-files its Form P by 28 Feb, the partnership allocation will be pre-filled into the respective partners’ Form B/B1.

  Receive your Allocation of Profit/Loss to Partners after Form P has been processed.

  If you do not agree with the allocation raised, file an objection within 30 days from the date of your allocation.

  For partners within the entity

  As a partner within your partnership, you have to file your individual income tax return (Form B/B1) between March 1st and April 18th.

  Receive your NOA from the end of April onwards.

  Pay your income tax within 1 month from the date of your NOA.

  If you do not agree with the assessment raised, file an objection with 30 days from the date of your NOA.

• Hiring workers

  Hiring workers

  

  If you're hiring local or foreign workers

  We recommend applying for CPF Submission Number (CSN) once you have set up your Corppass account. Employers will need a CSN when submitting CPF contributions for employees.

  Before your local or foreign workers start work, remember to obtain work injury compensation (WIC) insurance if they are:

  • Manual workers
  • Non-manual workers with a salary of less than $2,600/month
    Information about WIC
    Tools and resources for employers to download about WIC

  

  If you intend to hire foreign workers:

  Assign the Work Pass eService to required officers on Corppass.

  Register for an account for MOM services Work Pass Account Registration eService, and declare your business activity.

  Apply for work pass holders (if needed).

  Set up GIRO with MOM for Foreign Worker Levy (if you hire Work Permit or S Pass holders).

  Secure accommodation for workers, and register residential address in Online Foreign Worker Address Service (OFWAS) before issuance of work passes.

  Ensure that migrant workers have attended the necessary training courses.

*Information on this page is accurate as of 7 Jul 2023. The content made available or accessible through this page may not be correct, complete, current or accurate and you should perform your own checks or obtain professional advice relevant to your particular circumstances.

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