Godmode wrote:Scientist, you missed the LLP, which is the limited liability partnership where liability is divided amongst the 2 partners. If u have more than 2 partners, you can only register a pte. ltd.
The tax break of $100K and then 50% of next 200K, is applicable only to pte. ltd companies which private ltd and not for sole props and LLC.
It is No.2. then . Partnership can be from 2 to any numbers. It does not have to be for only 2 partners. However LLP as you said, if there is any default on bank loan or any contractual agreement between you and the buyer/seller which the other party can be proof that you have malicious intent to deceit be it in tort, contract, express or otherwise, the liabilities goes all the way to your own personal wealth. This is similar to sole proprietorship.
In Pte Ltd, the liabilities is limited to the company only. Having said that the company/person in disgruntle with you can take personal litigation to proof otherwise.
If you have an authorise capital of $100K and a paid of $2 in a pte ltd, no many will do business with you esp if you are after gahmen contract..
BTW let me know what industry you are in and I can recommend you the accountant. Are you after an accountant or auditor albeit CPA?
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