PARTNERSHIP LAW - General Partnership Agreement

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In Singapore, any number of persons up to a maximum of 20 persons may enter into a general partnership which must be registered with the Accounting and Corporate Regulatory Authority (ACRA).  A Partnership is defined under section 1(1) of the Partnership Act (Chapter 391) as the relation which subsists between persons carrying on a business in common with a view of profit.  Business is defined under the Business Names Registration Act 2014 (No.29 of 2014) as every form of trade, commerce and profession, and any other activity, that is carried on for the purposes of gain, but does not include any office, employment or occupation.  Societies and clubs would not be considered as partnership.  The most important difference between a partnership and a company is that a partnership is a collection of individual persons and is not treated as a corporate body.  A company is recognised as a separate legal entity separate from the individuals forming the company.

This precedent form for General Partnership Agreement is in Microsoft Word format.