Services
Types of Business Registration
Sole Trader Registration: Basic $550/Bundle $1250
This is a sole owner run business and all responsibilities, profits and debts are endured by the owner.
Pros:
You have full control of your business. Little requirements for legal compliance and taxation. Most suitable for small self serving businesses like barbers, hairdressers, sale of foods.
Cons:
You business liability extends to your personal assets.
Partnership Registration: Basic $650/Bundle $1400
This involves ownership by two or more individuals and or unincorporated companies. It is ideal for persons who wants to go into business but not on their own. Some partnerships have silent partners (this is where one partner acts as an investor).
Pros:
The burden of management on the business does not rely on one owner. Greater potential for business growth.
Cons:
Profits are shared based on partner agreement. Less control over the business than a sole trader Liability of the business extends to each partner personal assets.
Limited Liability Company: Basic $1295/Bundle $2395
This company is a legal entity meaning that it operates on its own and is separated from its owners. Ideal for companies with exponential growth.
Pros:
Owners are indemnified from liability Property and assets are separate from the owner Best Opportunity to expand.
Cons:
The most legal compliance and requirements demanded Ownership and Control can be replaced.
Non Profit Organization: Basic $1850/Bundle $2600
This is an entity in which persons are mostly interested in the achievement of charitable, social, ecclesiastical, educational and other human rights and development issues without any personal gain.
Pros:
Entitled to donations and government subventions.
Cons:
The business is not for any personal interest. Has to be carried on by other persons or entities with similar interest.
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