STARTING A LIMITED LIABILITY PARTNERSHIP (LLP)
What is it?
Limited Liability Partnership (LLP) is an alternative business vehicle regulated under the Limited Liability Partnerships Act 2012 which combines the characteristics of a company and a conventional partnership.
Who is it for?
The LLP business structure is designed for all lawful business purposes with a view to make profit. LLP may also be formed by professionals such as Lawyers, Chartered Accountants and Company Secretaries for the purpose of carrying on their professional practice. The LLP concept will also support startups, small and medium enterprises (SMEs) to grow their businesses without having to worry too much on their personal liabilities, personal assets and strict compliance requirements.
Amongst others, LLP is featured with the protection of limited liability to its partners similar to the limited liability enjoyed by shareholders of a company coupled with flexibility of internal business regulation through partnership arrangement similar to a conventional partnership.
Any debts and obligations of the LLP will be borne by the assets of the LLP and not that of its partners’. An LLP has the legal status of a body corporate which is capable of suing and being sued in its own name, holding assets and doing such other acts and things in its name as bodies corporate may lawfully do and suffer.
LLP also offers flexibility in terms of its formation, maintenance and termination while simultaneously has the necessary dynamics and appeal to be able to compete domestically and internationally. With the introduction of LLP, entrepreneurs will have more options to choose the most preferred form of business vehicle.
For more information click the following:-
Services available through the MyLLP Portal are as follows:-
• Registration as User of MYLLP Portal
• Application for Reservation of Name
• Application for Registration of New LLP
• Application for Registration of LLP for Professional Practice (only
With approval letter from the relevant governing body):-
The following services are available at the counters in SSM offices:-
List of Limited Liability Partnership Forms
1. Registration As User Of MYLLP – Form
2. Application for Reservation of Name Form 1
3. Application for Registration of New LLP Form 2
4. Application for Registration of LLP For Professional Practice:
a) Advocates & Solicitors Form 3
b) Chartered Accountant Form 3
c) Company Secretaries Form 3
5. Application for Registration of Foreign LLP Form 4
6. Application for Conversion from Conventional Partnership to LLP Form 5
7. Application for Conversion from Private Company to LLP Form 6
8. Application for Change of Name Form 7
9. Change of Address of Registered Office Form 8
10. Registration of Particulars Relating To A Place of Business Form 9
11. Change of Nature of Business/Principal Activities Form 10
12. Change of Particulars of Partner – Individual Form 11
13. Change of Particulars of Partner – Body Corporate Form 12
14. Change of Particulars of Partner – Government Agency Form 13
15. Change of Particulars of Compliance Officer Form 14
16. Annual Declaration by a Limited Liability Partnership Form 15
17. Application for a Declaration of Dissolution of Limited Liability Partnership Form 16
18. Notice of Completion of Distribution Form 17
To register your interest please fill out the form here………….
Your application takes only 5 min.
Response to query 1 - 3 days
Saira Resources Sdn Bhd. Klang, Selangor, Malaysia.