ADD A PARTNER IN LLP
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Appoint a partner in your Limited Liability Partnership. We will complete the process following all the MCA & ROC formalities. Add a New Partner In LLP Online in just 3 days.
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Add A Partner In LLP
In Limited Liability Partnership Registration minimum of 2 people are required as a designated partner but there is no limit for the maximum number of partners. All the partners have limited liability which means they will never be personally liable for any liability arising by the LLP; their liability is only limited to the unpaid amount of their capital contribution. In the case of a normal partnership firm, the maximum number of partners is restricted to 50 only but in an LLP there is no limit. In LLP there is no limit in the addition of the partners or designated partners, it can be added anytime during the course of the business. But no appointment can be made without the consent of existing partners and if the partners are ready to add any person as a new partner then his/her detail should be mentioned in the LLP agreement as well. The LLP can add or remove any partner from the LLP during the tenure of its business.
There are two types of partners in LLP one is a designated partner and another one is a normal partner. A designated partner is a partner who performs all the functions which are required to run the business, he holds a position just like a director in the company. He takes part in day-to-day activity and performs all the functions and duties which are necessary for the business. A designated partner has DIN and DSC before his appointment but for the appointment of partner, it is not necessary to have DIN and DSC before the appointment.
Process To Add A Partner In LLP
Step 1 - Existing Partner’s Consent
Take the consent for the admission of a new partner/designated partner in the LLP from the existing partners in the meeting of LLP and such consent shall be in form of resolution. The partners must agree to the appointment of partner or designated partner in the LLP.
Step 2 - Authorizing Designated Partner
For executing all the steps for the appointment of the new partner, a designated partner will be authorized to sign the forms and executing the deed and to take all the steps for such appointment.
Step 3 - Consent From New Partner
A consent should be taken from the partner or designated partner who is proposed to be appointed in the LLP. The consent should be in written form.
Step 4 - Execution Of Supplementary LLP Agreement
After taking consent of both existing partner and proposed partner a supplementary LLP agreement shall be executed and the details of the new proposed partner shall be mentioned in the LLP agreement and the same should be notarized on Rs. 100/- stamp paper.
The LLP agreement should be notarized on the state stamp paper, and the value of the stamp paper is based on the state where the registered office is situated and the capital contribution of the partner.
Step 5 - Submission Of Form-3 & Form-4
Once the LLP supplementary agreement is executed it should be submitted to the ROC in form-3 and the details of the admission of a new partner shall be submitted in form-4. Form-3 should be submitted with the form-4 along with the consent letter of the proposed partner, a copy of the resolution passed in the meeting and the supplementary agreement and with the requisite fees.
Step 6 - Approval From ROC
If the registrar is satisfied with the application for the alteration of the LLP agreement and the addition of the partner then he will give his approval and after providing the approval the same shall be updated in the MCA database as well.
Documents Required To Add A Partner
- Copy of resolution passed in the meeting in which the partners provided their consent for the appointment of the new partner
- Consent letter of the proposed partner
- Altered and notarized LLP agreement in which the details of a new partner is mentioned
- Digital Signature of authorizing Designated partner
- DPIN and DSC if the partner is appointed as a designated partner.
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Frequently Asked Questions
Who can be appointed as a designated partner in LLP?
An only natural person can be appointed as a designated partner in the LLP. But the partner can be any person like:
- Natural person
- Company registered under companies act
- LLP registered under LLP act
- Any other body corporate as prescribed by the government
Can a company become a partner in the LLP?
Yes, a company registered under the companies act, 2013 or any previous act can become the partner in the LLP. The company is a separate legal entity and it has its own identity therefore, it can be the partner in LLP
What is the limit of partner or designated partner in LLP?
Minimum 2 designated partners are required in LLP but for the maximum number of partner or designated partner, there is no limit specified by the government.
Is it necessary to alter the LLP agreement for the appointment of a partner?
Yes, if any changes made in the LLP they should be mentioned in the LLP agreement and at the time of addition of the partner his details should be mentioned in the agreement hence it is important to alter the agreement for the appointment of the partner. And the same should be approved by the ROC as well.
What is the value of stamp paper for the appointment of a partner?
For the addition of partner the agreement should be notarized on Rs. 100/- stamp paper of the state where the registered office of the LLP is situated. If the partner also increases the capital contribution then the value of stamp paper will also get increased from Rs. 100/- and the value of stamp paper will be determined by the increased amount of the contribution.
Is there any difference between a partner and a designated partner?
Yes, there is a difference between a partner and a designated partner.
- A designated partner holds the position in LLP just like a director hold in the company.
- Only an individual can be the designated partner but any person can be the partner, any person includes individual, private limited company or public limited company or LLP or any body corporate.
- Designated partner must have DPIN and DSC before his appointment but for the appointment of non designated partner, there is no need for his DPIN or DSC.
- Only a designated partner authorizes to sign the forms which are submitted to the ROC
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