Want to amend a resolution to add a designated partner to your firm?
The specialists at ICI will walk you through the steps to add a new designated partner to your LLP!
Designated partner is similar to the Director of a Private Ltd. Company. He is the individual in charge of the LLP and obligated to meet the requirements of the LLP Act. He is the person who runs and manages the business; also, takes care of day to day operations of LLP.
Yes, a non-resident Indian can act as a DP in LLP. However, along with other documents required for Indian Designated partners, he will have to submit a copy of his Passport.
The addition of a new designated partner is done by executing a supplementary deed which is an addendum to the original LLP agreement.
LLP does not have shareholders or directors.
No. When LLP is incorporated, a minimum of two designated partners is mandatory.
The role of designated partners in case of LLP is on the same footage as of directors in the case of a Company. The designated partners are directly responsible for the compliances of all provisions provided under LLP Act and the provisions specified in the LLP Agreement. Rights of designated partners are the same as of other partners and are also derived from the LLP agreement.
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