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A general partnership is a business owned by two to 20 partners who share its profits and its debts. ACRA, the Accounting and Corporate Regulatory Authority, registers it for S$115 for one year. There is no limit on what each partner can lose, because the partners and the business are not separate in law. Everything below was read on ACRA pages and checked .
What is a partnership in Singapore?
ACRA treats a partnership as a registered business with at least two partners. The partners can be people, companies or LLPs. They agree how to split profit and work, and all of them answer for the debts.
That is the main trade-off. A partnership is quick and cheap to register. It gives you no shield. ACRA says each partner is personally responsible for the partnership's debts, including debts caused by the other partners. Compare it with an LLP or a private limited company if that worries you.
How much does it cost to register a partnership?
| Item | ACRA fee |
|---|---|
| Reserve the business name | S$15 |
| Register for one year | S$100 |
| Register for three years | S$160 |
| One-year total (name plus registration) | S$115 |
| Three-year total (name plus registration) | S$175 |
| Renew the registration | S$30 |
| Convert to an LLP | S$40 |
| File a Notice of Error | S$60 |
The three-year option is only open when the conditions set by the CPF Board are met. ACRA's fee page shows the renewal fee but does not say what renewal costs for each term, so read the amount on screen. A corporate service provider (CSP) adds its own charge if you use one. We have not read a provider price for partnership registration, so we print none.
Who can register a partnership?
Each owner must be 18 or older and be a Singapore citizen, permanent resident or an eligible FIN holder. An undischarged bankrupt cannot register. Owners who live overseas need one authorised representative who is ordinarily resident in Singapore.
Foreigners with Singpass can register themselves if they reserved the name. Foreigners without Singpass must engage a CSP. See corporate service provider for what that involves. Self-employed owners also have to keep MediSave contributions up to date. ACRA says this applies when annual net trade income is above S$6,000, and a failure can cancel the registration early.
How do you register a partnership step by step?
- Reserve the name. Apply for the business name through Bizfile. The business name page covers the rules.
- Gather the details. You need the approved name, the Singpass or Corppass login, the start date, a business email and a business address. A P.O. Box is not accepted, and a home office needs prior HDB or URA approval.
- Add each partner. Give the identity number, full name, date of birth, residential address, contact address and mobile number.
- Pay and submit. Pay by card or online banking in Bizfile.
- Collect the approval. ACRA sends a notice and your UEN to your Bizfile inbox, plus a link to a free Business Profile.
Only the person who reserved the name can register it. Most registrations are approved soon after payment. Complex ones can take up to 15 working days, and cases sent to a referral authority take 14 to 60 days.
What must a partnership do after registering?
Renew every one or three years, up to 60 days before expiry. Report any change to your details within 14 days. ACRA says late lodgement can bring penalties. Trade only under the registered name. A different name needs its own registration.
Partnerships do not file an annual return or hold an AGM. Those are company duties, covered under annual filing deadlines. Tax is different again: ACRA says profits are taxed at the owners' personal or corporate rates. We did not get IRAS's partnership filing rules from its site, so confirm the form and dates with IRAS.
What should partners agree between themselves?
ACRA's registration pages do not ask you to upload a partnership agreement. That does not make one pointless. With unlimited liability, the split of profit, who may sign contracts, how much each partner puts in and what happens when someone leaves are worth writing down. These are our suggestions, not an ACRA rule. A lawyer can draft the agreement, and we have not verified any fee for that.
Also think about what you would do if the business cannot cover a debt. ACRA says every partner has unlimited liability, so your own assets are at stake, and so are the choices your partners make.
Partnership, LLP or company?
Pick a partnership when the owners trust each other, the risk is low and you want the cheapest start. An LLP adds limited liability and costs S$40 to convert to from a partnership. A company can have shareholders and investors. The three-way comparison shows the structures side by side, and company types lists the rest. One owner only? See sole proprietorship.
Independent guide, not ACRA
SingaporeCompanySetupGuide.com is an independent guide. We are not ACRA, IRAS or a provider. Partners pay us when a request we pass on turns into a client, as our how we earn page explains.
Want someone else to handle the name, partner details and filing? Fill in the form here and we send it to providers who can quote you.
Sources
- ACRA, Sole proprietorship or partnership, https://www.acra.gov.sg/register/business/registering-different-business-structures/sole-proprietorship-or-partnership/ (owners, fees, steps, timing)
- ACRA, Fees for sole proprietorships and partnerships, https://www.acra.gov.sg/how-to-guides/sole-proprietor-and-partnership-fees (name, renewal, LLP conversion, Notice of Error)
- ACRA, Choosing a business structure, https://www.acra.gov.sg/register/business/choosing-business-structure/ (liability, tax, eligibility, totals)
- ACRA, Managing a sole proprietorship or partnership, https://www.acra.gov.sg/manage/sole-proprietorship-partnerships/overview/ (renewal, MediSave, 14-day updates)
