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Updated on 25 Oct 2020 9.00 AM IST | 4 min read
Add Partners or Designated Partners to LLP
LLP is run by its partners. LLP is a type of business entity that offers advantages of both company and a partnership firm. In the case of LLP, partner enjoys the benefit of limited liability and a separate legal entity. There are many reasons to add a new partner in LLP such as death of the existing partner, partner fired from the company due to negligence or misconduct in work etc. New partners are added or existing partners leave the organization but it does not affect the status of LLP but it surely impacts the business as well as the responsibilities of other partners. The changes are made in the partners and their details after getting the approval from ministry of corporate affairs (MCA).
In order to add a partner to an LLP, the consent of other partners must be obtained along with change in LLP agreement and application to MCA for approval. The application must be filed to MCA within 30 days from the effective date of change.
Any person proposing to become a partner must obtain a digital signature certificate (DSC) and director identification number (DIN). Any person who is having age of 18 years or above can obtain DIN. Indian nationals, foreign nationals, NRI’S can too obtain DIN and can be appointed as partners.
What Is Included In Our Package?
Documents Required For Adding A New Partner
- Passport size photograph
- PAN card copy
- Residence proof (Aadhar card/ Voter-id card/ Driving license)
- LLP agreement
- Digital signature certificate of the adding partner
- DIN number
- Form 3
- Form 4
Procedure for Adding Partner in LLP
The procedure for adding partner in LLP is as follows –
If company is unable to file form-3 & form-4 within 30 days, company will be charged with additional fee of Rs.100 per day.
Adding A New Partner FAQ’S
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