GLOSSARY OF TERMS
The standard form is “Limited” as in limited liability and abbreviated to ”Ltd.” Some jurisdictions (eg Singapore) add “Pte” (for private) thus ABC Pte. Ltd.
LLC stands for Limited Liability Company. For example, we offer Wyoming LLCs.
An LLC takes the legal form of a company, but is taxed like a partnership i.e. the individual partners are taxed, not the LLC itself.
LLP is initially from 2001 in the UK, later in other jurisdictions e.g. Singapore, generally to allow professional firms (accountants, lawyers etc) who were previously obliged to operate as (unlimited) partnerships, to incorporate. An LLP may of course be incorporated for any purpose. It differs from a Limited company in that it enjoys ‘pass-through’ taxation (as a partnership it is not taxed, rather it’s members are).
This combines the role of registered office & company secretary in IBC (International Business Company) jurisdictions where it is compulsory to have one. RA’s generally file annual returns and pay taxes etc on behalf of the company.
In most cases the Registered Agent is licensed in the jurisdiction in which it operates.
All companies must have a registered office in the jurisdiction where they are formed. This is to enable receipt of official correspondence and to provide an address for service of legal processes. In most cases (unless separate arrangements have been made), this is not a trading address and should not be used for general trade correspondence.
Sdn. Bhd. stands for 'Sendirian Berhad' and is private limited company in Malaysia.
