Requirements for setting up an accounting LLP (ALLP)
Check the four requirements to set up an ALLP in Singapore.
Last updated 29 January 2026
On this page
Note: Your ALLP must have public accountancy services as its main function. This includes auditing and reporting on financial statements.
1. Naming requirements
Your ALLP's name must include either “Limited Liability Partnership” or “LLP” at the end of its name.
Avoid names which are
Identical to an existing business or reserved name
Undesirable, such as those containing vulgar, obscene, or offensive terms
Similar to government bodies or names protected by legislation, such as Temasek
More details: Choosing a business name, Practice Direction No. 7 of 2006 [PDF, 79 KB]
2. Partner requirements
Public accountant (PA) requirement
Number of partners | Requirement |
|---|---|
Two partners | At least one partner needs to:
|
More than two partners | At least two-thirds of the partners need to:
|
Partner under section 18A(3)(e) of the Accountants Act: A PA who lives in Singapore, and controls and manages the provision of public accountancy services.
3. Paid-up capital requirement
Your ALLP must have a minimum paid-up capital of $50,000.
4. Professional indemnity insurance requirement
Your ALLP needs to be covered by professional indemnity insurance.
The amount to be covered is the highest of these three:
$1 million
$500,000 for every corporate practitioner in your ALLP
2.5 times your ALLP’s gross income in the last financial year (maximum $50 million)
Tip: You can submit quotations from your insurer when you set up your ALLP. After setup, you must maintain the required coverage at all times.