First, there are the LLCs or Limited Liability Companies. With a maximum of 50 shareholders, only one person can open the business. Also, it protects the shareholders from the company’s debt. This happens because the liability is limited to the company’s capital. And the LLC has the capacity to sponsor workers for residency in the country.
Then we have the Joint Stock Company. The capital of this kind of business is divided into equal shares. Investors take a bigger role in decision-making along with the board of executives. We recommend this type of firm if your project requires huge amounts of money to initiate.
On the other hand, a Limited Liability Partnership (LLPs) sets a limit to each partners’ liabilities to the amount of their contribution. Generally, law and accounting firms aim to get this kind of business license. It works well for those firms because spreading the risks among partners facilitates a long-term structure.
Lastly, Joint Ventures are temporary businesses in which two or more participants work together to fulfill a goal. They reach an agreement to provide enough resources that guarantee the project implementation. Nonetheless, each party takes responsibility for all costs and profits generated by the task.