LLC
The same thing may have different names in different regions. The following types of entities with different names, all of which are private limited companies, have the following similarities:
- With independent legal personality
- Have limited liability for shareholders
- Shares are not publicly tradable
- Only 1 shareholder is allowed
This entity type is highly recommended for digital nomads or other small business owners.
🇺🇸 U.S.
Limited Liability Company
(LLC)
Each state in the United States has different laws regarding LLCs.
A limited liability company (LLC) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC).
An LLC is a hybrid legal entity having certain characteristics of both a corporation and a partnership or sole proprietorship (depending on how many owners there are). An LLC is a type of unincorporated association distinct from a corporation. The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. As a business entity, an LLC is often more flexible than a corporation and may be well-suited for companies with a single owner.
🇬🇧 U.K.    🇮🇪 Ireland
Private Company Limited by Shares
(LTD)
A private company limited by shares is a class of private limited company incorporated under the laws of England and Wales, Northern Ireland, Scotland, certain Commonwealth countries, and the Republic of Ireland. It has shareholders with limited liability and its shares may not be offered to the general public, unlike those of a public limited company.
"Limited by shares" means that the liability of the shareholders to creditors of the company is limited to the capital originally invested, i.e. the nominal value of the shares and any premium paid in return for the issue of the shares by the company. A shareholder's personal assets are thus protected in the event of the company's insolvency, but any money invested in the company may be lost.
A limited company may be "private" or "public". A private limited company's disclosure requirements are lighter, but its shares may not be offered to the general public and therefore cannot be traded on a public stock exchange. This is the major difference between a private limited company and a public limited company. Most companies, particularly small companies, are private.
ðŸ‡ðŸ‡° Hong Kong, China
Private Company
(Limited)
Hong Kong is a special administrative region of China and its company-related laws are different from the rest of the country. A Hong Kong private company is similar to a private company limited by shares in the UK.
The liability of members is limited by the articles of association to the amount unpaid on the shares respectively held by them.
🇪🇪 Estonia
Private Limited Company
(OÜ)
The private limited company (or OÜ, "osaühing" in Estonian) is the most common business entity among both Estonian residents and e-residents.
An OÜ is a company in which shareholders' liability is limited to their paid or unpaid shareholdings. This means that shareholders of an OÜ are not personally liable for the obligations of the OÜ. Board members can still have a personal liability if found to be responsible for wrongdoing.