Do LLPs have shareholders?

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Hi everybody. So, I’ve got experience with limited companies - I’m a shareholder for two. But I’ve got no idea how LLPs work. It only makes sense, knowing this, that I should be asked to get involved with a new one that is forming. Inevitable question is: do they even have shareholders? Or, what are the members called if there are none?

Answers

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No, limited liability partnerships do not have shareholders or shares, nor do they have directors. Only companies limited by shares have shareholders and shares.

The people who own and manage LLPs are called ‘LLP members’ or ‘partners’. You need at least two members to be able to set up this type of business structure.

If you would like to know more about LLPs or how to set one up, please click here.

a year ago
 

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