Add Partner in LLP
A Limited Liability Partnership is run and carried by partners. Each partner have his roles and duties as per LLP agreement. For Add a partner in LLP , the incoming person need to obtain digital signature certificate and director identification number. Indian resident or Foreign resident can become partner in LLP in India. On Admission of new partner status of LLP does not changes. LLP need to maintained minimum two designated partners and out it one must of Indian resident.. Exiting partners written consent is mandatory for addition and removal of partner from LLP. Procedure to add partner in LLP is made easy by Ministry of Corporate Affairs. New procedure is simple and complete online.
Rights and Duties of LLP Partner
Access Finance
All Partners have right to check and verify books of Account of LLP. Partners can access Bank statement , Balance sheet etc .
Right to Share Profit & Loss
Each partner of LLP have right to share profit and loss of business. Terms of sharing are defied in LLP agreement.
Voting Right
LLP business is carried by partners with mutual consent. Each partner have right of voting. Terms of voting rights are defied in LLP agreement.