Sole-proprietorship | General Partnership | Limited Liability Partnership | Limited Partnership | Private Limited Company | |
Suitable for you who is … | to run a low risk business on your own. | to run a low risk business together with other partner(s). | to run a professional business together with other partner(s). | to run a medium risk business together with other partner(s). | to run a relatively high risk business, whether or not with other partner(s). |
Who can be the owner(s)? |
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Number of owner | 1 | 2 to maximum of 20 | At least 2 | At least 2 | 1 to maximum of 50 |
Limitation on liability | Unlimited | Unlimited | Limited |
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Limited |
Audit requirement | No | No | No | No | Yes, if:
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Tax implication | At owner’s level. | At owner’s level. | At owner’s level. | At owner’s level. | At company’s level. |
For more details, please see Sole-proprietorship, General Partnership, Limited Liability Partnership, Limited Partnership and Private Limited Company.