Add or Remove Partner in LLP – Explained in Simple Words
If a business is an LLP, sometimes it may want to Add or Remove Partner in LLP. This means bringing a new person in or letting one person go. LLP stands for Limited Liability Partnership. It must always have at least two special people called Designated Partners. One of them must live in India.
To make the change, the partners must agree together. Then, they write it down and tell the government by filling forms.
To become a Designated Partner, a person needs:
- A digital signature (like an online sign)
- A DPIN (a special ID number)
- A letter saying “Yes, I want to join”
Anyone who is 18 years or older can apply for DPIN. Even people from other countries can become a partner in an LLP in India.
Corporate Sewa Kendra is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. Appointment of Director is easy, seamless, cheapest and quickest with CSK! Apart from a Director Appointment, CSK also helps entrepreneurs with Private Limited Company Registration, Public Limited Company Registration, LLP Registration, HUF, One Person Company and all other compliances easily. You may get in touch with our compliance manager on 09999949406 or email info@corporatesewakendra.com for free consultation.
Who can not be a designated partner under an LLP?
- A person adjudged insolvent within preceding 5 years;
- A person who has defaulted in payment made to Creditors within preceding 5 years and has not made a composition with them;
- A person convicted by a Court for an offence involving moral turpitude involving sentence of not less than six months;
- A person involved in any act of fraud;
- Minors below the age of 18 years.