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Before incorporating an LLP it is very important to have an LLP agreement within 30 days. The LLP agreement is a paper which is used to define the rights and responsibilities in an LLP.
The package includes:
Supplementary LLP agreement drafting
Form 3 filing with the ROC
Stamp duty computation and payment
Partner consent documentation
Filing acknowledgment and master data update check
CA/CS-guided review
Your documents and structure are checked before anything is filed.
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Fees
Fees and packages for change in llp agreement
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Change In LLP Agreement
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Overview
What is an LLP agreement ?
Before incorporating an LLP it is very important to have an LLP agreement within 30 days. The LLP agreement is a paper which is used to define the rights and responsibilities in an LLP. Every change that is made in an LLP has to be reported in an LLP agreement such as adding a partner, change in the method of decision making, removing a partner.
If an agreement is well structured, it actually helps in strengthening the working of an LLP. A person drafting the agreement should have the skills to form an agreement which defines the working of an LLP appropriately.
Benefits
Reasons for changing an LLP agreement
Open each benefit to see what it means for you.
Reason 1
Change in the working of an LLP.
Reason 2
Change in the business activities carried out by an LLP
Reason 3
Change in the profit shared by different partners in the company
Documents
Documents required for changing in LLP agreement
Clear, current documents matter more than a long checklist. Names, dates of birth and addresses should match across records.
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Process
Process of changing the LLP agreement
You’ll see each stage, what’s pending and what we need from you — so filings don’t bounce back.
Step 1 of 10
Step 1
In order to change the agreement the resolution is passed requesting for the revise in an LLP agreement.
Step 2
After the resolution is passed, form three is filled within 30 days
Step 3
The form-3 is filled with details such as the date of modification of the agreement and the reasons of the change in the agreement.
Step 4
There can be various reasons for the change in the LLP agreement.
Step 5
After submitting all the details the details such as the type of change made in an agreement is reported with other details
Step 6
The documents needed are attached to the form 3.
Step 7
The applicant needs to submit form 4 if the change in the agreement is because of the change in the partnership of the business.
Step 8
Form 4 is also filled in case there is a change in the address or the name of the office or in case there is a change in the partnership.
Step 9
After filling the form, the documents that are to be attached with the form are submitted
Step 10
The forms are then submitted to the registrar which then processes the change in the LLP
If a founder or investor is outside India
Foreign ownership is possible in many sectors, but it adds document authentication, banking and FEMA work. Set the route before funds move.
Plan before you start
- Check whether your sector permits automatic-route foreign investment
- Confirm the Indian resident director arrangement
- Map ownership, beneficial ownership and pricing
- Allow time for apostilled or consularised documents
Plan for after setup
- Receive funds through permitted banking channels
- Complete RBI/FEMA reporting and keep the bank evidence
- Coordinate tax and ongoing compliance advice early
FAQ
Frequently Asked Questions
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Every change that is made in an LLP has to be reported and then modified in an LLP Agreement as it is the foundation of an LLP.
Every change that is made in an agreement is to be reported within 30 days.
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