A Limited Liability Partnership (LLP) is governed as per the rules of Limited Liability Partnership Act, 2008. In today’s era, an LLP is gaining more popularity than a Private or a Limited Company form of business because of its easy nature and the lesser compliances.
Every LLP should have a minimum of 2 partners and out of them, 2 shall act as designated partners who work on behalf of the partners and participate in the day-to-day activities. Once appointed, a partner or a designated partner can be changed, removed or appointed.
Procedure to add a designated partner:
- Apply for Digital Signature Certificate:
The proposed designated partner shall apply for a DSC. The following documents are required for the application:
- PAN Card of the applicant
- Aadhaar Card of the applicant
- Photo of the applicant
- Email Id of the applicant
- Phone number
- Apply for DIN Number- After the DSC, the Director Identification Number of the Director will be applied in the form DIR – 3 along with the address proof and the identity proof of the applicant.
- Once the DIN is allotted to the designated partner, all the existing partners of the LLP will call a meeting and pass a resolution to add a designated partner in the partnership deed.
- A supplementary partnership deed will be drafted in which the new partner’s name will be added.
- Then the consent of the incoming partner will be taken in writing.
- After these documents are prepared, Form – 4 of LLP will be filed within 30 days of the appointment.
- After filing this form, FORM – 3 will be filed, along with the supplementary and the original partnership deed within 30 days of appointment.
- After the filing of all these forms, the name of the designated partner will be added and will be seen on the site if the Ministry of Corporate Affairs.
If Form – 3 and Form – 4 are filed within 30 days there is an additional fee on each form of Rs. 100/- per day.