Person Companies in Malaysia

There are many different types of businesses in Malaysia, from small family-owned businesses to large multinational corporations. However, most businesses can be classified into one of four categories: sole proprietorships, partnerships, private limited companies, and public limited companies.

Sole proprietorships are the most common type of business in Malaysia. This type of business is owned and operated by one person, and there is no legal distinction between the owner and the business. Sole proprietorships are relatively easy and inexpensive to set up, and they offer the owner complete control over the business. However, sole proprietorships are also unlimited liability businesses, which means that the owner is personally responsible for all debts and liabilities of the business.

Partnerships are similar to sole proprietorships, but they involve two or more owners. Partnerships can be either general partnerships or limited partnerships. In a general partnership, all partners are equally liable for the debts and liabilities of the business. In a limited partnership, there are two types of partners: general partners and limited partners. General partners are liable for the debts and liabilities of the business, while limited partners are only liable up to the amount of their investment.

Private limited companies are the most common type of business in