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LLC, Private Limited, IBC Comparison

Updated time: 11 Nov, 2015, 00:00 (UTC+08:00)
  LLC Private Limited IBC
Annual filings

Varies but generally simple: company renewal, sometimes summarized financial statement.

Varies but generally requires declaration of directors, shareholders, activities, and financial statements.

None.
Officials Members. Directors. Directors.
Ownership Member agreement. Shareholders. Shareholders.
Public records Often just name of company.

Company details, details about directors, and sometimes shareholders

None.
Record keeping

Often simple but must be kept.

Detail records to be kept.

Often simple but must be kept.

Taxation

Pass-through (members are taxed on personal income).

Corporate tax. None.

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