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FAQs  Coversion to a Company


Must the person who submits the name application to incorporate the company be the proposed director or shareholder of the company?

No.



Can we change the director of the company at the time of incorporation?

Yes.



What is the minimum number of directors for a company?

The minimum number of directors is one.



I am the applicant for the proposed company name which has been approved. However when I log into Bizfile to incorporate the company, the system does not allow me to incorporate the company. Why?

The person who logs onto Bizfile to incorporate the company must be one of the proposed directors named in the company name application.



I applied for the company name which has been approved. Now the system prompts me with a message that I am not authorized to incorporate the company. Why?

The person who logs onto Bizfile to incorporate the company must be one of the proposed directors named in the company name application.



I am the name applicant but I am not one of the proposed directors of the new company. May I proceed to incorporate the company?

The person who logs onto Bizfile to incorporate the company must be one of the proposed directors named in the company name application.



If I have an existing company or business, can I convert it to an LLP?

Yes, you may submit an online transaction to convert the company or business into an LLP. This is on condition that the partners of the business firm and the shareholders of the company are going to be the partners of the LLP and the company has no outstanding security interests in its assets at the time of the application for the conversion.



If a professional firm e.g. accountants or lawyers wish to convert to LLP (assuming the relevant professional act has been amended to allow this), will this be by way of conversion or required to register a new LLP.

With effect from Jan 2007, a law practice may convert to a law LLP by filing an online transaction called "Conversion from Professional Firm to Limited Liability Partnership" under Limited Liability Partnership Transactions via www.bizfile.gov.sg.



Is it correct to say that the offices of directors and companies and secretaries cease upon conversion of a company to LLp?

It is more correct to say that once the company has been converted to an LLP, the company ceases to exist.



After conversion from Sole-Proprietorship to LLP, is it necessary to inform all vendors/client/banker before the conversion, especially when the liability has been changed from unlimited to limited.

The Act requires the LLP to ensure that for a period of 12 months commencing 14 days from the date of registration, every invoice or official correspondence of the LLP shall carry the information that the LLP has been converted from a business firm to LLP and the name and registration number of the business firm which it has been converted from.




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