You have a business idea and are thinking of the best way to set it up. There are several entities you can consider: Sole Proprietorship, Limited Liability Partnership and Private Limited Company. Each has its advantages and disadvantages.

Sole Proprietorship

This just needs one individual in the set up.

Limited Liability Partnership

The minimum number is two partners and there is no maximum number in a partnership.

Private Limited Company

This allows up to 50 shareholders. There are two types of Private Limited Companies:

• one up to 20 shareholders (Exempt Private Company - EPC) and
• one between 21 to 50 shareholders (Non-Exempt Private Company).
  No corporate shareholders are allowed in EPCs.

There are different statutory requirements for each. Do contact us for a consultation.