{"id":69184,"date":"2023-12-19T14:23:08","date_gmt":"2023-12-19T06:23:08","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/?page_id=69184"},"modified":"2024-11-26T01:22:50","modified_gmt":"2024-11-25T17:22:50","slug":"limited-liability-company-llc","status":"publish","type":"page","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/resources\/business-compendium\/limited-liability-company-llc\/","title":{"rendered":"Limited Liability Company (LLC)"},"content":{"rendered":"<h2>Understanding the Concept of a Limited Liability Company (LLC) in Singapore<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-68760\" title=\"Limited Liability Company (LLC)\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2023\/11\/photo-business-compendium-limited-liability-company-400x300-1.jpg\" alt=\"Limited Liability Company (LLC)\" width=\"400\" height=\"300\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2023\/11\/photo-business-compendium-limited-liability-company-400x300-1.jpg 400w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2023\/11\/photo-business-compendium-limited-liability-company-400x300-1-300x225.jpg 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/>A Limited Liability Company, or LLC, is a unique form of business that&#8217;s legally separate from its owners and directors. This means it registers as its own legal entity under Singapore&#8217;s Companies Act by the Accounting and Corporate Regulatory Authority (ACRA). The responsibility of the shareholders is capped at the amount they&#8217;ve invested into the company&#8217;s share capital. Essentially, an LLC is like a separate individual &#8211; it can sign contracts, own property, initiate a lawsuit or be sued. Once established, it continues to exist until officially closed or struck off the register.<\/p>\n<p>&nbsp;<\/p>\n<h3>Different Types of Limited Liability Companies<\/h3>\n<h4>Private Limited Company<\/h4>\n<p>A private limited company is a business that has 50 or fewer members. The company&#8217;s shares don&#8217;t trade on public markets, and its shareholders can be individual or corporate entities. To signify its private status, the company&#8217;s name typically ends with &#8216;Private Limited&#8217; or &#8216;Pte Ltd&#8217;.<\/p>\n<h4>Exempt Private Limited Company (EPC)<\/h4>\n<p>An EPC is a unique type of private limited company with fewer than 20 shareholders and should not have any corporate shareholders. The term &#8216;exempt&#8217; in its name signifies that these companies are exempted from certain regulatory requirements, such as the annual audit. EPCs also enjoy a tax exemption for their initial three consecutive Years of Assessment (YA).<\/p>\n<h4>Public Company<\/h4>\n<p>A public company in Singapore comes in two forms:<\/p>\n<ul>\n<li><strong>Public Company Limited by Shares:<\/strong> This refers to businesses with more than 50 shareholders, and their shares freely trade on a public stock exchange. They are named followed by \u201cLtd.\u201d<\/li>\n<li><strong>Public Company Limited by Guarantee:<\/strong> Typically formed by entities involved in non-profit activities like charities, religious trusts, trade unions, and professional bodies, these companies don&#8217;t have shareholders. Instead, they are owned by members who, in the event of dissolving the company, are liable to contribute an amount specified in the company&#8217;s Memorandum of Association. Such contribution corresponds to their share of company assets.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Understanding the Concept of a Limited Liability Company (LLC) in Singapore A Limited Liability Company, or LLC, is a unique form of business that&#8217;s legally separate from its owners and directors. This means it registers as its own legal entity under Singapore&#8217;s Companies Act by the Accounting and Corporate Regulatory Authority (ACRA). The responsibility of&hellip;<\/p>\n","protected":false},"author":22,"featured_media":68760,"parent":70083,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[],"class_list":["post-69184","page","type-page","status-publish","has-post-thumbnail","description-off"],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/69184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/comments?post=69184"}],"version-history":[{"count":1,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/69184\/revisions"}],"predecessor-version":[{"id":92851,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/69184\/revisions\/92851"}],"up":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/70083"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media\/68760"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media?parent=69184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/categories?post=69184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}