{"id":509,"date":"2025-07-25T15:06:50","date_gmt":"2025-07-25T15:06:50","guid":{"rendered":"https:\/\/companysecretary.my\/?p=509"},"modified":"2025-07-25T15:06:50","modified_gmt":"2025-07-25T15:06:50","slug":"limited-liability-partnership-llp-as-alternative-business-vehicle","status":"publish","type":"post","link":"https:\/\/companysecretary.my\/bm\/2025\/07\/25\/limited-liability-partnership-llp-as-alternative-business-vehicle\/","title":{"rendered":"Limited Liability Partnership (LLP) As Alternative Business Vehicle"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"509\" class=\"elementor elementor-509\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7c51ccc e-flex e-con-boxed e-con e-parent\" data-id=\"7c51ccc\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e946ec6 elementor-widget elementor-widget-spacer\" data-id=\"e946ec6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-71111c3 e-flex e-con-boxed e-con e-parent\" data-id=\"71111c3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-71c6361 elementor-widget elementor-widget-image\" data-id=\"71c6361\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/companysecretary.my\/bm\/wp-content\/uploads\/2025\/07\/businesspartner-3-1024x682.jpg\" class=\"attachment-large size-large wp-image-515\" alt=\"\" srcset=\"https:\/\/companysecretary.my\/bm\/wp-content\/uploads\/2025\/07\/businesspartner-3-1024x682.jpg 1024w, https:\/\/companysecretary.my\/bm\/wp-content\/uploads\/2025\/07\/businesspartner-3-300x200.jpg 300w, https:\/\/companysecretary.my\/bm\/wp-content\/uploads\/2025\/07\/businesspartner-3-768x512.jpg 768w, https:\/\/companysecretary.my\/bm\/wp-content\/uploads\/2025\/07\/businesspartner-3-1536x1024.jpg 1536w, https:\/\/companysecretary.my\/bm\/wp-content\/uploads\/2025\/07\/businesspartner-3.jpg 2000w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ace1b53 elementor-widget elementor-widget-text-editor\" data-id=\"ace1b53\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\">Limited liability partnership (LLP) is a new type of business vehicle introduced by the Companies Commission of Malaysia (CCM). It is combines the features available on the private limited company and conventional partnerships.<\/p><p class=\"p1\">LLP company starting from its incorporation to its dissolution is regulated by the LLP Act 2012. LLP company may also have a LLP agreement as by law in order to regulate its internal matters. If no LLP agreement signed and registered, the provisions in the LLP Act 2012 is applicable to regulate the same matters.<\/p><p class=\"p1\">LLP is a limited liability company. Its liability limited to the extend of\u00a0partners capital contributed to the company only. In other means, partner is no longer liable to contribute to the asset of the company in the event of company insolvency.<\/p><p class=\"p1\">LLP company has a separate legal entity like\u00a0a human being. They can borrow, buy, rent, enter into contracts, sue, be sued, own property and real estate are all using its\u00a0name without involving its\u00a0partner names.<\/p><p class=\"p1\">All matters relating to the initial establishment of the LLP company until its closure can be done at the office of the registrar of companies or also known as the Company Commission of Malaysia (CCM) which has its headquarters at Menara SSM, KL Sentral, Kuala Lumpur.<\/p><p class=\"p1\">In order LLP company to be established, its required a minimum of 2 partners\u00a0and\u00a0at least one compliance officer which may be appointed either among the partners or the approved compliance officer.<\/p><p class=\"p1\">At the end of every\u00a0year, the LLP company is required by the LLP\u00a0Act 2012 to lodge to CCM an annual statement. This statement\u00a0must be lodged within ninety days from the end of every\u00a0anniversary of the LLP company. However, for the first year of its incorporation, the statement\u00a0can be lodge\u00a0within 18 months from the date of its LLP incorporation certificate.<\/p><p class=\"p1\">The company&#8217;s failure to comply with the mandatory requirement above may result in the LLP company and all of its partners be compounded by CCM and if convicted in court can lead to a higher penalty.<\/p><p class=\"p1\">LLP company\u00a0will continue to exist even with whatever changes occur to all or any of its\u00a0partner. It is also will not close despite the death of all of its partner. It will continue to exist unless the closure procedure against it was either done through the CCM or the courts.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-08d8b4b e-flex e-con-boxed e-con e-parent\" data-id=\"08d8b4b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-78efe1b elementor-author-box--avatar-yes elementor-author-box--name-yes elementor-author-box--biography-yes elementor-widget elementor-widget-author-box\" data-id=\"78efe1b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"author-box.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-author-box\">\n\t\t\t\t\t\t\t<div  class=\"elementor-author-box__avatar\">\n\t\t\t\t\t<img decoding=\"async\" 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7.797 30.214 12.67 47.431 13.319-28.264-18.843-46.781-51.005-46.781-87.391 0-19.492 5.197-37.36 14.294-52.954 51.655 63.675 129.3 105.258 216.365 109.807-1.624-7.797-2.599-15.918-2.599-24.04 0-57.828 46.782-104.934 104.934-104.934 30.213 0 57.502 12.67 76.67 33.137 23.715-4.548 46.456-13.32 66.599-25.34-7.798 24.366-24.366 44.833-46.132 57.827 21.117-2.273 41.584-8.122 60.426-16.243-14.292 20.791-32.161 39.308-52.628 54.253z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-share-btn__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__title\">\n\t\t\t\t\t\t\t\t\t\tTwitter\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t\t<div class=\"elementor-share-btn elementor-share-btn_linkedin\" role=\"button\" tabindex=\"0\" aria-label=\"Share on 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56.2 81.2 56.1 130.5 0 101.8-84.9 184.6-186.6 184.6zm101.2-138.2c-5.5-2.8-32.8-16.2-37.9-18-5.1-1.9-8.8-2.8-12.5 2.8-3.7 5.6-14.3 18-17.6 21.8-3.2 3.7-6.5 4.2-12 1.4-32.6-16.3-54-29.1-75.5-66-5.7-9.8 5.7-9.1 16.3-30.3 1.8-3.7.9-6.9-.5-9.7-1.4-2.8-12.5-30.1-17.1-41.2-4.5-10.8-9.1-9.3-12.5-9.5-3.2-.2-6.9-.2-10.6-.2-3.7 0-9.7 1.4-14.8 6.9-5.1 5.6-19.4 19-19.4 46.3 0 27.3 19.9 53.7 22.6 57.4 2.8 3.7 39.1 59.7 94.8 83.8 35.2 15.2 49 16.5 66.6 13.9 10.7-1.6 32.8-13.4 37.4-26.4 4.6-13 4.6-24.1 3.2-26.4-1.3-2.5-5-3.9-10.5-6.6z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-share-btn__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__title\">\n\t\t\t\t\t\t\t\t\t\tWhatsApp\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Limited liability partnership (LLP) is a new type of business vehicle introduced by the Companies Commission of Malaysia (CCM). It is combines the features available on the private limited company and conventional partnerships. LLP company starting from its incorporation to its dissolution is regulated by the LLP Act 2012. LLP company may also have a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":523,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2],"tags":[3,16,17,18,19,20,21],"class_list":["post-509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company","tag-incorporate-company","tag-incorporate-llp","tag-incorporate-plt","tag-limited-liability-partnership","tag-perkongsian-liabiliti-terhad","tag-register-llp","tag-register-plt"],"_links":{"self":[{"href":"https:\/\/companysecretary.my\/bm\/wp-json\/wp\/v2\/posts\/509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/companysecretary.my\/bm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/companysecretary.my\/bm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/companysecretary.my\/bm\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/companysecretary.my\/bm\/wp-json\/wp\/v2\/comments?post=509"}],"version-history":[{"count":0,"href":"https:\/\/companysecretary.my\/bm\/wp-json\/wp\/v2\/posts\/509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/companysecretary.my\/bm\/wp-json\/wp\/v2\/media\/523"}],"wp:attachment":[{"href":"https:\/\/companysecretary.my\/bm\/wp-json\/wp\/v2\/media?parent=509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/companysecretary.my\/bm\/wp-json\/wp\/v2\/categories?post=509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/companysecretary.my\/bm\/wp-json\/wp\/v2\/tags?post=509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}