Change of Partner Contribution of Limited Partnership (LP)

NGN25,000

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

In a Limited Partnership (LP), partners are required to declare the capital they contribute to the business. This contribution may be in cash, assets, or services, and is tied directly to a partner’s liability, especially for limited partners. When a partner increases, reduces, or withdraws their contribution, it must be formally updated with the Corporate Affairs Commission (CAC) to reflect the accurate financial structure of the LP.

Service Fee (All inclusive):

NGN25,000

Update Partner Contribution in a Limited Partnership (LP) 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 fees and professional handling; no hidden charges.
Fast Processing: Completed within 2 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 Change a Partner’s Contribution in an LP?

A partner’s contribution in a Limited Partnership (LP) might be changed for various reasons, including adjusting capital needs, accommodating new partners, or modifying the partnership’s financial structure. Changes can involve increasing or decreasing a partner’s capital contribution, which can impact their share of profits, losses, and liability within the partnership.

Capital Requirements: As the business evolves, the LP 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 LP’s filings to remain compliant and avoid disputes during audits or winding up.

Requirements for Filing Change in Partner Contribution of a Limited Partnership (LP) with CAC

LP Details: Full business name and CAC registration number.
Partner Details: Full name, designation (General or Limited Partner), and updated contribution figures.
Type of Contribution: Specify whether the contribution is in cash, asset, or other forms.
Updated Annual Returns: Ensure all LP Annual Returns are filed before making post-registration changes.
Authorization: Application must be signed by a General Partner or authorized signatory.