Limited Liability Partnership (LLP) vs Company, Which one is your choice?
- Loh Boon How CA(M), ATII
- Sep 17, 2017
- 1 min read
Introduction
Limited Liability Partnership (LLP) is govern under Limited Liability Partnership Act 2014, a hybrid between the company and conversion partnership, the LLP is suitable to Small and Medium Enterprise (SME). Ordinally, the LLP structure is specifically for Legal Firm, Accountant Firm and company secretary. However now the LLP structure are also available to all type of business.
On the other hand, Company is the most popular form of business entities adopted by the Malaysia business either a private company or public company. The company is govern by new Company Act 2016. The company are bound to compliance with the complicated of rules and regulations. Therefore, it is normally adopted by the large capital business.
Following are the comparison between the LLP and company.
Conclusion
No doubt, base on the table above, if you are a Small And Medium Enterprise, LLP definitely is your choice.
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