Why become a limited liability company?

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What are the benefits of incorporating my trade into a limited liability company? What would I gain in terms of tax liabilities? Would I have any benefit in terms of actual growth for my business?

1 Answer

score 0 · Answer 1 · 2012-12-02T20:35:16+00:00

The benefits of forming a limited liability company are quite a lot! Some of them :

1. Anonymity of the shareholders (the names are actually available but you will not trade with your name).
2. You limit the risk of losing your wealth since you are only responsible up to your contribution or up to an agreed amount.
3. Increased credibility in the markets
4. Easier to raise debt
5. The tax rates are lower
6. Increased transparency

I can keep going on to be honest. In any case, forming a limited liability company is a decent option.