Can an LLP use nominee officers?

0

Hi, my brother and I are registering a Limited Liability Partnership, but he would like to use a nominee to play his part in the business. Do LLPs use nominees? I’ve never heard of that in the past, but I don’t see why they couldn’t.

Answers

0

LLPs cannot have nominee officers because there are no ‘officers’ in this type of business structure. You can, however, appoint someone else to act as a nominee member (a.k.a partner) of the LLP on your brother’s behalf. The nominees details will then be added to the public register instead of your brother’s details.

However, I would strongly advise speaking to an accountant first because it is more complex than appointing a nominee in a limited company. LLP members have to register as self-employed unless they are hired by the partnership as an employed member, so it is a more complicated procedure in terms of profit distribution and taxation.

a year ago
 

Your answer