Partnership Act (Chapter 391): Primary legislation that defines partnerships, their legal status, governs the rights and obligations of partners, and regulates partnership dissolution and transfers
Civil Law Act (Chapter 43): Provides foundational contract law principles and governs the formation and enforcement of contracts in Singapore
Companies Act (Chapter 50): Relevant for Limited Liability Partnerships (LLPs), regulates business structures and ownership transfers
Income Tax Act (Chapter 134): Addresses tax implications of partnership interest transfer, capital gains considerations, and stamp duty requirements
Goods and Services Tax Act: Governs GST implications and requirements for the sale of partnership interests
Stamp Duties Act (Chapter 312): Specifies requirements for stamp duty on transfer documents, including applicable rates and payment obligations
Due Diligence Requirements: Legal requirements for conducting proper investigation and verification of partnership assets, liabilities, and obligations before transfer
Partner Consent Provisions: Legal requirements regarding obtaining necessary consents from existing partners for the transfer of partnership interest
Valuation Methodology: Legal framework for determining fair market value of partnership interests and accepted valuation methods
Transfer Procedures: Legal requirements and procedures for executing and documenting the transfer of partnership interests
Liability Arrangements: Legal framework for allocation of existing and future liabilities between transferor and transferee
Non-compete and Confidentiality: Legal requirements and restrictions regarding competition and protection of partnership confidential information
Tax Considerations: Comprehensive tax implications including income tax, capital gains, and other applicable taxes
Regulatory Compliance: Additional regulatory requirements and approvals needed for the transfer of partnership interests
