Limited Liability Partnership

 

Limited Liability Partnership is an alternative type of business under the Limited Liability Partnership Act 2012 (Act 743) which combines the characteristics of a private company and a conventional partnership.


Limited Liability Partnership (LLP) Salient Features

  1. LLP is a body corporate and has legal personality separate from its partners (separate legal entity).
  2. LLP has perpetual succession.
  3. Any change in the partners of a LLP shall not affect the existence, rights or liabilities of the LLP.
  4. LLP has unlimited capacity and capable of suing and being sued, acquiring, owning, holding and developing or disposing of property.
  5. LLP may do and suffer such other acts and things as bodies corporate may lawfully do and suffer.

Registration requirements

  1. Proposed name of the LLP.
  2. Nature of business.
  3. Address of registered office.
  4. Name and details of partners.
  5. Name and details of compliance officer and
  6. Approval letter from professional body - must include an approval letter from the regulatory body as prescribed in third column of First Schedule of LLP Act 2012.

Parties that can apply for registration

  1. Professionals (Lawyers, Accountants & Company Secretaries).
  2. Small and medium sized businesses.
  3. Joint venture and
  4. Venture capitals.

Registration fee

Type of transactions:

New LLP Registration

RM 500.00

Conversion to LLP

RM 500.00


Parties who can apply for registration

Registration must be done by the appointed LLP Compliance Officer:

1. Either one (1) of the partners or company secretary (in accordance to Companies Act 2016) and

2. Malaysian citizen / Permanent residence age 18 and above.

Application can be made through online at https://www.myllp.com.my/ .

LLP conversion requirements

Information required:

 

Conversion from Conventional Partnership to LLP

  1. The partnership registered name, number and date.
  2. Same partners; and
  3. The conventional partnership is solvent.

 

Conversion from a Professional Firm to an LLP

  1. The professional firm's registered name, number and date.
  2. The professional firm is solvent and
  3. An approval letter from the regulatory body.

 

Conversion from a Company to an LLP

  1. The company's name, number and incorporation date.
  2. All outstanding statutory fees to government agencies has been settled.
  3. At the date of application, the private company is solvent.
  4. Advertisement has been placed in a widely circulated newspaper in Malaysia and the Gazette and
  5. All members and creditors agreed to the conversion.

 

 

 

 

 

 

 

 

Contact Us

Malaysian Administrative Modernisation and Management Planning Unit (MAMPU),
Prime Minister's Department  
Level 6, Block B2
Prime Minister's Department Complex
Federal Government Administrative Centre
62502 Putrajaya, Malaysia

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