Business As Proprietors Companies in Malaysia

There are many types of business entities in Malaysia, but the most common are sole proprietorships, partnerships, and private limited companies.

A sole proprietorship is a business owned and operated by one person. The owner has complete control over the business and all of its assets. This type of business is relatively easy to set up and does not require much paperwork. However, the sole proprietor is personally liable for all debts and obligations of the business.

A partnership is a business owned by two or more people. Partners share control of the business and are jointly liable for its debts and obligations. Partnerships can be either general partnerships or limited partnerships. General partnerships are relatively easy to set up and do not require much paperwork. Limited partnerships are more complex and require more formalities.

A private limited company is a business owned by shareholders. The shareholders have limited liability for the debts and obligations of the company. Private limited companies are more complex to set up and require more paperwork.