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Change of Partner Contribution of Limited Liability Partnership (LLP)

NGN25,000

Register Notice of Change in Sum Contributed or to be Contributed by a Partner in LLP with CAC

In a Limited Liability Partnership (LLP), the capital contributions of each partner form the financial foundation of the business and are recorded with CAC. Over time, partners may decide to increase or reduce their contributions, or new contributions may be introduced due to internal restructuring or strategic expansion.

Any such changes to the capital structure must be properly documented and filed with the Corporate Affairs Commission (CAC) for legal effect.

Service Fee (All inclusive):

NGN25,000

Update Partner Contribution in a Limited Liability Partnership (LLP) in Nigeria

Here’s how SplashDict’s CAC-accredited experts assist you:

Filing & Documentation: We handle filings and documents to reflect the updated capital contributions with CAC.
Official Update: Receive an updated CAC Status Report showing the new capital contribution details.
Transparent Pricing: Includes CAC filing and professional handling fees; no hidden charges.
Fast Processing: Completed within 1 to 7 working day(s), subject to CAC approval.
Ongoing Support: Our Chartered Secretary and corporate services team provide ongoing expert help for regulatory and statutory needs.

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Why Update Partner Contributions in an LLP?

Updating partner contributions in an LLP is essential for maintaining accurate records, reflecting changes in the business, and ensuring proper legal and financial compliance. Changes in partner contributions can arise from various factors, including business policy adjustments, new projects, technological advancements, or shifts in the scale of operations.

Capital Requirements: As the business evolves, the LLP might need more or less capital than initially anticipated. Changes in partner contributions can help meet these new financial demands.
Reduction or Withdrawal: A limited partner may seek to reduce their exposure or reclaim part of their capital, in accordance with the partnership agreement and solvency rules.
Financial Flexibility: Changing contributions can provide partners with greater flexibility to manage their personal finances or investment strategies.
New Contribution Terms: A change may also reflect a shift from non-cash to cash contributions or vice versa, or the fulfillment of a previously agreed future contribution.
Regulatory Compliance: All changes in contribution amounts must be reflected in the LLP’s filings to remain compliant and avoid disputes during audits or winding up.

Requirements for Filing Change of Partner Contribution of LLP with CAC

LLP Details: Full registered name of the LLP and CAC registration number.
Resolution of Partners: A resolution indicating the changes in contribution, signed by all affected partners.
Updated LLP Agreement: Revised agreement or supplementary document showing the updated contributions.
Updated Annual Returns: All LLP annual returns must be filed before making post-registration amendments.
Authorization: Application must be signed by a Designated Partner or an authorized signatory of the LLP.