Looking to register a partnership firm in Singapore?
Partnership Formation is suitable for 2 to a max of 20 partners and is regulated under Business Registration Act Cap 32 and Partnership Act Cap 391. It is easy to form and has less compliance & requirements.
All profit from the business belong to the Partners, and is subjected to personal income tax; and is required to contribute to CPF Medisave based on trade profits declared with Inland Revenue of Singapore.
Partnership registration (at least 2 partners, and less than 20) requires a Minimum of 1 manager to be Singaporean / Singapore permanent resident of full capacity & 18 Years or above.
A partnership can be 100% foreign owned but foreigners should always consider setting up a Private Limited Company to take advantage of the $100,000 profit tax exemption and declare final dividends to avoid being taxed at 20% of trading profits drawn in the capacity as a partner of the partnership firm.
*Bank account opening is subjected to banks’ approval.
Our Business Registration Singapore – Partnership Formation package costs *$388 includes: (*100% owned by Singaporean / Permanent Residents)
- Professional Fees for form the Partnership firm
- ACRA Incorporation fee
Total Fees: S$588
The above services are only for 2 partners, additional S$80 for each additional partner applies.
Our Business Registration Singapore – Partnership Formation package is only at *S$408 and it includes: (*Jointly owned by Singaporean / Permanent Residents & Foreigners)
- Professional Fees for form the Partnership firm
- ACRA Incorporation fee
Total Fees after Discount: S$608
The above services are only for 2 partners, additional S$80 for each additional partner applies.
Information Required For Partnership Formation:
- 2 Proposed Partnership Names
- Principal Activities Description (Maximum of 2 activities)
- Location of Registered Office – A1 Office or your physical office
- NRIC Copy of Managers (Only Singaporeans / PRs can be the local Managers)
- Owners – NRIC copy for locals, passport copy and proof of foreign address for foreigners
Read more on: Singapore Company Formation
