Overview
A private limited company is a business entity characterized by limited liability and ownership through shares held by a restricted number of shareholders. This structure ensures that the personal assets of shareholders are protected in the event of financial losses or liabilities incurred by the company. As a separate legal entity, a private limited company can enter contracts, own assets, and pursue legal actions in its name, distinct from its owners. Typically managed by appointed directors, who may or may not be shareholders themselves, the company adheres to regulatory requirements such as filing financial statements and holding annual meetings. While private limited companies enjoy privacy regarding financial information, they can still raise capital by issuing shares to investors, albeit not through public offerings. This ownership model offers flexibility in exit strategies for shareholders and potential conversion to a public limited company if desired. Taxation varies depending on jurisdiction but commonly involves corporate income tax and taxes on shareholder dividends. Overall, private limited companies provide entrepreneurs and small to medium-sized enterprises with a secure and flexible business structure conducive to growth and limited liability.
Types of private limited companies
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