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Registration of Business Entities - Coggle Diagram
Registration of
Business Entities
Business Entity Types in Malaysia
Sole proprietorship
Partnership
Limited Liability Partnership (LLP)
Private Limited Company
Cooperative
Benefits and Limitations
Sole Proprietorship
Benefits
Easy to establish
Full control
Limitations
Unlimited liability
Limited capital
Partnership
Limitations
Shared profits
Partner disagreements
Benefits
Shared capital
Shared workload
Private Limited Company
Benefits
Limited liability
More capital opportunities
Limitations
Complex setup
Higher compliance costs
Limited Liability Partnership (LLP)
Benefits
Limited liability
Seperate legal entity
Limitations
Complience requirements
Shared decision-making
Cooperative
Benefits
Democratic control
Shared benefits
Limitations
Limited profit distribution
Collective decisions
Registration procedures
the Companies Commission of Malaysia
the Cooperative Commission of Malaysia