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We had formed an LLP for a startup with two partners 50:50,contribution Rs 50000 each with Partner A and Partner B. We had convinced an investor to invest Rs15 lakh in our LLP . What would be an appropriate way of funding we can receive. If we go for angel investing what would be the terms of the Partner C and taxation and control for the existing partners in the LLP.Or we were thinking if we go for admission of the investor as Partner C in the LLP and change the Profitability ratio to Partner A-98%, Partner B - 1% & new Partner C as 1% irrespective of Capital provided by them by amending the Partnership Deed? Is this possible if yes please provide me the drawbacks as well.Which one would be easier for the LLP, Angel investor or admission of a new partner. Basically I want to keep the major control in the affairs of the firm .Please mention the drawbacks of both.
LLP Ownership depends solely on contribution. Maximum, Partner A can be assigned as Working partner and give a portion of the profit. But ownership of the firm is based on Contribution only. Hence in an LLP if an investor invests Rs.15 Lac and other partner have put in less amount then maximum ownership will be with an investor, Hence the way to go forward is to establish a Private Limited company and acquire the LLP by the PLC. Investor may be given shares from PLC
