Add Designated Partner

Our experts shall help you with compliance procedures to be followed for adding a new designated partner to your LLP
Add designated partner in LLP

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What is LLP?

A Limited Liability Partnership (LLP) is the business type where the liability of the partner is limited. LLP has a different legal status. Each partner is protected from their liability; also protected by the joint liability created by the other partner’s wrong business decision or misconduct. LLP registration is governed under the Limited Liability Partnership Act, 2008 and a separate LLP agreement has to be filed. An LLP shall be registered with the Registrar of Companies.

Table Of Contents

Overview

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.

Minimum & Maximum no. of designated partner
Minimum 2
Maximum No limit
Only a sole person can be appointed as a designated partner, and out of two selected partners, At least one should be a resident of India.
Who cannot be appointed as a designated partner in LLP
Penalty for not appointing a designated partner
If an LLP fails to appoint a minimum of 2 designated partners, the penalty of Rs.10,000 to Rs. 1,00,000 may be levied. Besides, if the vacancy could not be filled within a period of 30 days, then also the above penalty is attracted.

Process of adding a designated partner

Documents Required

Note

If the applicant is of a foreign country, an attached copy of the passport will be required.

  • Identity proof:
    » Aadhar Card
    » Driving License
    » Passport
    » Voter’s ID
  • Address proof:
    » Aadhar Card
    » Voter ID Card
    » Driving License (DL)/Registration Certificate (RC)
    » Electricity Bill (Not older than 3 Months)
    » Water Bill (Not older than three months)

How will we help you?

Other services offered

FAQs

a. Can a foreigner be a designated partner?

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 copy of his Passport.

b. What is a supplementary deed in an LLP?

The addition of a new designated partner is done by executing a supplementary deed which is an addendum to the original LLP agreement.

c. Does LLP have shareholders?

LLP does not have shareholders or directors.

d. Can LLP have only one member?

No. When LLP is incorporated, a minimum of two designated partners is mandatory.

e. What are the rights and duties of the new partner in the LLP?

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.

f. Still have doubts?

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