In Singapore, other corporate structures available to business owners include:
Partnership: Formed by two or more business owners, partners have no separate legal existence, and personal liability for company debts is shared.
There are three types of partnerships: General partnership allows up to 20 partners, and partners pay personal income tax based on their revenue share.
A limited partnership limits partner liabilities to their initial investment, but limited partners cannot manage the business. Limited Liability Partnership (LLP) offers flexibility and benefits similar to a private limited company, suitable for professional service providers.
Public Limited Company (PLC): An LLC with the option to offer shares to the public, requiring at least 50 shareholders and subject to government scrutiny due to public fundraising. PLCs can be listed on the stock exchange if they meet financial requirements and choose to do so.