Hello stingy sir, can we replace the existing partner under the LLP agreement? How long does the trial last and how much does it cost? Yes—the salary level should be clearly stated, otherwise I think LHDN might have a problem with that. And yes — if the salary changes every year, the contract should be updated every year. 1. I announced a conventional partnership last year and would like to switch to LLP after the end (until June). Is it true that I cannot use the same company name as after the expiry? Or do I need a new business name for my LLP? Currently, when I check the availability of the name, it has already been mentioned used. I think here, LLP is different from the partnership (in a positive way). If you have a partnership of three partners and you want to stop, you need to dissolve the partnership and reform a new one with the two remaining partners. So, in a way, your Biz didn`t “continue.” Unfortunately, I don`t have an example of the LLP agreement, but if you want an offer for someone who helps you design the deal, feel free to email my partner. Thank you! In general, limited Liability Partnership (LLP) is a partnership with limited liability for each partner. Responsibility is limited to the contribution of the partners. LLP also did not require an audit of his account and his corporate secretary. Even if the LLP is sued and goes bankrupt one day, creditors cannot come on your personal property. But in a conventional business or partnership, they can do it, and they will.
However, since then, myLLP`s website has been fully updated to process everything online. Perhaps you have found something about the limited liability partnership agreement between the various shareholders? This agreement is necessary for shareholders to be able to receive salaries and remuneration. As my new LLP will be owned by several shareholders, as a company, you would not work for free unless you are invited. Therefore, this agreement should be disseminated online, as MSM members do. I`ve been there so many times that SSM even told me that everything was submitted online, but I can`t find the reference title for the LLP deal to get a salary.