The Limited Liability Partnerships Act 2012 came into force in  Malaysia on 26 December 2012. Limited liability partnerships (LLPs) is a useful business vehicle which combines the characteristics of a partnership and a company.

Introduction to LLPs

Cheng Leong explains in more detail some of the features of the LLPs. But in summary, LLPs can be a good option for startups, small and medium enterprises, and in particular, LLPs were also geared towards professionals like lawyers and accountants. This can be seen in the Companies Commission of Malaysia (CCM) website where one of the aims of the LLP Act was to allow professionals to make use of the benefit of the LLP structure. Continue reading →