Business Entities that have Separate Legal Personality from that of the owners or partners. I intend to set up a business in Singapore. I know that in order to protect my personal assets from my business creditors, I need to set up a business entity that has a separate legal personality from that of the owners of the business. Besides incorporating a company under the Companies Act, is there another business form that I can consider that has this concept of separate legal personality?. Do you also know the different types of Companies under the Companies Act? The concept of par value and authorized share capital, has this concept been abolished in Singapore?