The Government has introduced a new business structure called the Limited Liability Partnerships (LLPs) on 11 April 2005. The LLP structure is a business structure that confers limited liability on its investors or partners but allows them to operate the business as a partnership.
To facilitate business continuity, the government will allow existing partnerships or companies to convert to a LLP structure, instead of having to first wind up their existing enterprise and re-register as a LLP. However, automatic transfer of statutory licences issued previously to the partnership firm or company to the new LLP is subject to the approval to the issuing Authority.
IDA has reviewed whether IDA licences can be held by a LLP. All categories of telecommunication and postal licences with the exception of Facilities-Based Operator Licence, Services-Based Operator (Individual) Licence, Public Postal Licence and Utilisation of Singapore Registered Satellite Orbital Slot Licence may be issued to a LLP, subject to the terms and conditions which IDA may impose.
IDA will also allow a partnership firm or company that holds an applicable licence from IDA to convert to a LLP. Licensees intending to convert to a LLP must first submit to IDA an application for the licence with the updated changes. If the submitted application qualifies for the licence, IDA will then grant an in-principle approval to the licensee to proceed. Once the licensee has successfully converted to a LLP, it will then need to update IDA of the conversion date, whereupon IDA will then transfer the licence to the LLP, subject to the terms and conditions which IDA may impose.
For further queries, please email:
Jason_Tan@ida.gov.sg or contact Mr Jason Tan at 6211 1968.