Private limited company - wikipedia Private limited company This article is part of a series on Corporate law By jurisdiction Anguilla Australia BVI Canada Cayman Islands India South Africa United States Vietnam European Union France Germany United Kingdom General corporate forms Company Conglomerate Cooperative Corporation Holding company Joint - stock Partnership General Limited Limited liability Private limited Sole proprietorship Corporate forms by jurisdiction European Union Societas ( SE ) Societas cooperativa ( SCE ) Societas privata ( SPE ) Societas unius personae ( SUP ) Economic interest grouping ( EEIG ) UK / Ireland / Commonwealth Charitable incorporated organisation ( CIO ) Community interest company ( CIC ) Industrial and provident society ( IPS ) Limited company ( Ltd. ) by guarantee by shares proprietary public Unlimited company United States Benefit corporation C corporation Limited liability company ( LLC ) Low - profit LLC Series LLC Limited liability limited partnership ( LLLP ) S corporation Delaware corporation / statutory trust Massachusetts business trust Nevada corporation Others Aktiebolag ( AB ) Aktiengesellschaft ( AG ) Ansvarlig selskap ( ANS ) Aktieselskab ( A / S ) Aksjeselskap ( AS ) Gesellschaft mit beschränkter Haftung ( GmbH ) Kabushiki gaisha ( K.K. ) Naamloze vennootschap ( N.V. ) Osakeyhtiö ( Oy ) S.A. Société à responsabilité limitée ( SARL ) more... Doctrines Business judgment rule Corporate governance De facto and estoppel corporations Internal affairs doctrine Limited liability Piercing the corporate veil Rochdale Principles Ultra vires Related areas Civil procedure Contract Corporate registers Company portal Law portal A private limited company is a hybrid type of business entity used in many jurisdictions, with some differences from country to country. Examples include LLC in the US, private company limited by shares in the UK, GmbH in Germany or společnost s ručením omezeným in the Czech Republic. Country Business form Abbreviation ( s ) United States limited liability company LLC privately held company United Kingdom private company limited by shares Pvt. Ltd. India Hong Kong Ireland Nepal Netherlands besloten vennootschap met beperkte aansprakelijkheid bv Belgium bvba Société Privée à Responsabilité Limitée SPRL France société à responsabilité limitée SARL Luxembourg Switzerland società a garanzia limitata Gesellschaft mit beschränkter Haftung GmbH Liechtenstein Austria Germany Unternehmergesellschaft ( haftungsbeschränkt ) UG ( haftungsbeschränkt ) Greece Εταιρεία Περιορισμένης Ευθύνης Ε. Π. Ε. Ιδιωτική Κεφαλαιουχική Εταιρεία Ι. Κ. Ε. Czech Republic Společnost s ručením omezeným s.r.o., spol. s r.o. Slovakia Spoločnosť s ručením obmedzeným Hungary korlátolt felelősségű társaság kft. Poland spółka z ograniczoną odpowiedzialnością sp. z o.o. Croatia Društvo s ograničenom odgovornošću d.o.o. ( д. о. о. ) Bosnia and Herzegovina Serbia Друштво са ограниченом одговорношћу Macedonia Društvo so ograničena odgovornost Slovenia Družba z omejeno odgovornostjo Spain sociedad de responsabilidad limitada SRL Mexico Peru Argentina Chile Colombia compañía limitada Ltda. Italy società a responsabilità limitata SRL Portugal sociedade de responsabilidade limitada Lda. Brazil sociedade limitada Ltda., Lda. Russia общество с ограниченной ответственностью ООО Denmark anpartsselskab ApS Sweden privat aktiebolag AB Finland ( Yksityinen ) osakeyhtiö OY Australia proprietary limited company Pty Ltd Malaysia Syarikat Sendirian Berhad Sdn Bhd Singapore ( exempt ) private company limited by shares Pte Ltd Estonia Osaühing OÜ Latvia Sabiedrība ar ierobežotu atbildību SIA Lithuania Uždaroji akcinė bendrovė UAB Uzbekistan Masuliyati Cheklangan Jamiyat MCHJ Romania Societate cu Răspundere Limitată SRL Bulgaria Дружество с ограничена отговорност ООД Ukraine Товариство ( з обмеженою відповідальністю ) ТОВ ( Cyrillic ) Albania Shoqëria Me Përgjegjësi Të Kufizuar sh. p.k. Kosovo Contents 1 Albania 2 Argentina 3 Bosnia and Herzegovina 4 Brazil 5 Bulgaria 6 Chile 7 Colombia 8 Croatia 9 Czech Republic 10 Denmark 11 Dominican Republic 12 Estonia 13 Finland 14 Germany 15 Greece 16 Hong Kong 17 Hungary 18 Iceland 19 India 20 Iran 21 Italy 22 Japan 23 Latvia 24 Macedonia, Republic of 25 Mexico 26 Moldova 27 Norway 28 Pakistan 29 Peru 30 Poland 31 Portugal 32 Romania 33 Russia 34 Serbia 35 Slovakia 36 Slovenia 37 Spain 38 Sweden 39 Switzerland 40 Tajikistan 41 Turkey 42 Ukraine 43 United Arab Emirates 44 United Kingdom 45 United States 46 See also 47 References Albania In Albania a limited liability company ( Albanian : Shoqëri me përgjegjësi të kufizuar Sh. p.k ) is a commercial company founded by persons of physical or judicial status, who are not liable for the company and personally bear losses only up to the outstanding contribution agreements. Partners ' contributions constitute the registered capital of a limited liability company. Each partner has his quota in the company in proportion to the contribution of the capital so the registered capital of the company is divided between the partners based on the proportional ratio of their contribution. In Albania a limited liability company may not have a capital of less than 100 lek. Argentina Although not an exact equivalent, the Argentine variant of the LLC is called Sociedad de Responsabilidad Limitada ( S.R.L. ) and it limits the liability of its members up to their capital contribution in the company. The equity is divided into equal stakes ( can not be called `` shares '' ), each one of which represents a percentage of the company and that can not be traded on the stock exchange. Their by - laws are regulated by law N ° 19550 and the commercial partnership is limited to a maximum of 50 partners. Bosnia and herzegovina Bosnian and Herzegovinian legislation, similarly to that in Serbia, Montenegro, Macedonia contemplates LLCs as društvo s ograničenom odgovornošću ( d.o.o. ). Companies using this structure append the abbreviation d.o.o. to their company name. A shareholder or member in a d.o.o. is only personally liable up to the value of the member 's investment in the company. Brazil The corporate structure in Brazilian law most similar to the American LLC is the Sociedade Limitada ( `` Ltda. '' ), under the new Brazilian Civil Code of 2002. The sociedade limitada is the new name of the sociedade por quotas de responsabilidade limitada, and it can be organized as empresária or simples, under this new code, roughly corresponding to the form types of comercial ( `` commercial '' ) and civil ( `` non commercial '' ) of the Commercial Code. A new law in Brazil has made it legal to obtain an LLC by a sole - proprietor called Empresa Individual de Responsabilidade Limitada ( Eireli for short ). The main requirement is a capital of 100 times the current minimum wage, R $ 78.800, 00 ( US $26.267. 00 ) as of 2015. Bulgaria Bulgarian legislation contemplates LLCs as Дружество с ограничена отговорност ( Druzhestvo s ogranichena otgovornost ; Limited liability company ). Companies working under this structure append the abbreviation ООД ( OOD ) to their name. In case of an LLC with individual owner it is contemplated as Еднолично дружество с ограничена отговорност ( Ednolichno druzhestvo s ogranichena otgovornost ; One - man / Single - member limited liability company ) and abbreviated as ЕООД ( EOOD ). Chile Chilean law contemplates a certain form of LLC known as `` Sociedad de Responsabilidad Limitada '' ( Limited Liability Association ). Also ( LLC ) These companies are regulated by law N ° 3.918. Among their most important characteristics we can say that : They can pursue a commercial or non-commercial purpose ( Sociedad Comercial de Responsabilidad Limitada / Sociedad Civil de Responsabilidad Limitada ). They must be formed by two or more partners and can hold up to a maximum of fifty. Their equity is divided into `` cuotas '' ( not shares ) each one of which represents a percentage of the company. They can be managed by one or more managers ( external if need be ), or by a board of directors. Their by - laws ca n't be modified, nor their partners be changed, without the consent of all the other partners. In tax considerations, they differ from the LLC 's because they pay a corporate tax for their income, amount that can be deducted by their owners as a credit against the taxes they pay. Chilean law also contemplates a very special kind of individual owner LLC called Empresa Individual de Responsabilidad Limitada ( Limited Liability Individual Company ), which uses the E.I.R.L. abbreviation. Colombia Colombian legislation contemplates a very similar structure as mentioned above in the Chilean case. The Ltda. abbreviation is also used in Colombia. Croatia In Croatia, a private limited liability company is termed društvo s ograničenom odgovornošću ( literal : limited liability company ), abbreviated d.o.o.. A public limited liability company is termed a dioničko društvo ( literal : joint stock company ) abbreviated d.d.. Czech Republic Czech legislation contemplates LLCs as společnost s ručením omezeným ( s.r.o. or spol. s r.o. ). An s.r.o. is not technically comparable to an LLC because the profits are still subject to double taxation. Czech law does not offer a possibility to start up a limited company without the possibility of avoiding double taxation. As of 2014 the liability is not limited in Czech, since managing director ( jednatel, mandatory board member in Czech LLCs ) bears full liability that extends to all of his / her property, including private one. Denmark The Danish form of the LLC is the kommanditselskab ( K / S ). There is no minimum capital requirements. In a K / S there are two types of shareholders, the komplementar which is fully liable, and the kommanditist which liability is limited. The K / S is a tax - transparent company, which means the income `` passes through '' the company directly to the shareholders. Dominican Republic Dominican Republic legislation contemplates LLCs as Sociedad de Responsabilidad Limitada, also known by their abbreviation S.R.L. ; ; S.R.L.s award limited liability to their members up to their contribution in the company ( i.e., contribution of capital ). This type of company began after the law number 479 of the year 2008. Estonia In Estonia, a limited liability company is referred to as osaühing ( OÜ ). The type of entity is also required to be identified in the name. An OÜ is taxed as a corporation. The minimum capital required by law is € 2,500. Finland Although not an exact equivalent, the Finnish version of the LLC is the Oy ( osakeyhtiö ) or in Swedish Ab ( aktiebolag ). An Oy is taxed as a corporation. The minimum capital required by law is € 2,500. Germany Because of its hybrid characteristics it is very difficult to determine the German equivalent. On one hand it is possible to consider it as a kind of Gesellschaft mit beschränkter Haftung ( GmbH ) because it has aspects of a corporation ; on the other hand it could be considered to be a kind of Kommanditgesellschaft ( KG ), which is the German equivalent of a limited partnership. Based on the literal translation of the word `` company '', an LLC should be considered to be a kind of KG without any liable partner. The German equivalent that comes closest to LLC, is GmbH & Co KG, a nested Kommanditgesellschaft ( KG ) where a Gesellschaft mit beschränkter Haftung ( GmbH ) takes the role of the fully liable partner. For the purpose of taxation, the Bundesfinanzministerium ( German Federal Ministry of Finance ) gives detailed guidelines of the circumstances under which an LLC is to be considered to be a `` corporation '' or as a `` limited partnership ''. It is useful to note, however, that the original LLC statutes of Wyoming and other US states were more or less explicitly modeled after the GmbH. Greece A limited liability company ( LLC ) in Greece is synonymous to an EPE ( ΕΠΕ - Εταιρεία Περιορισμένης Ευθύνης ). Hong Kong In Hong Kong, the Limited Company is the most commonly incorporated type of company and bears the characteristics of a Limited Liability Company. The core characteristics of a Hong Kong Limited Company include : i ) it requires a minimum of one shareholder and one director ( can be the same person ), ii ) a Hong Kong company requires a company secretary resident in HK, iii ) foreign ownership is allowed, iv ) company shareholders have limited liability and v ) the company must have registered HK address. Entrepreneurs who register a company in Hong Kong can choose a Hong Kong offshore company. This company structure is basically a HK Limited Company but all business is conducted outside of Hong Kong. The advantage of this structure is that all business income that is sourced outside of Hong Kong is tax exempt. Hungary Hungarian legislation contemplates LLCs as Korlátolt felelősségű társaság. Companies working under this structure append the abbreviation Kft. to their name. Hungarian LLCs are required to have a 3 million HUF ( Hungarian Forint ) ( approx. 11,000 USD ) starting capital. The time of formation by the new electronic formation option has been reduced from 2 weeks to 2 hours, additional cost of formation is around 100,000 HUF ( approx. 540 USD ). Kft. s can be formed by the cooperation of lawyers. The Hungarian Kft. is the most common form of doing business in Hungary. As being part of the European Union ( EU ), Hungarian Kft. s can now obtain an EU VAT registration number for doing business across the EU. The Hungarian EU - VAT reg. number starts with `` HU ''. This way the existence of the subject company, VAT issues and the cross-check is available on the common EU website for companies. Iceland According to Icelandic legislation, there are two types of LLC forms, private and public held limited liability forms. Private LLC is abbreviated `` Ehf. '' The minimum capital of 500,000 Icelandic krónas ( kr. ). Public LLC is abbreviated `` Hf. '' with minimum capital of 4,000,000 kr and goes to LLC. India Commonly used business forms in India are : ( a ) Public and Private Limited Companies - Incorporated entities with limited liabilities. These are very similar to `` Corporations '' under U.S law. ( b ) Limited Liability Partnerships ( LLPs ) - Incorporated entities with limited liability. The LLPs are organized as partnerships - they do not have a Board of Directors as such. LLP has lesser compliance requirements compared to Private limited companies. There is no maximum limit for the no. of partners in LLP. In the private limited company shareholders are limited to the extent of 200 shareholders. The above entities are treated as taxable entities ( `` persons '' ), and as such are liable to tax on their incomes. These entities do not offer `` pass - through '' taxation benefits, unlike LLCs in the USA. India vide Limited Liability Partnership Act, 2008 introduced concept of LLP and it got implemented in 2009. 2 persons are required to Incorporate LLP in India and they are called designated partners. This form is very organised in India and controlled under Ministry of Corporate Affairs. There is no specific minimum capital requirement. Foreign Direct Investment too allowed in LLP. Essential part is one of the 2 promoters must be Indian Resident. Iran As of 2015, there are seven types of companies which can be registered under Iran 's company registration law. One of these seven types of companies and partnerships refers to LLPs. Like many other countries, two persons are required to form an LLP in Iran. Each person has his / her own shares and is responsible for business liability equivalent to his / her share percentage. LLPs in Iran are named according to the format illustrated by the following example : `` Sherkat Ba Masooliyate Mahdood '' translates as `` Sherkat شرکت Company '' + `` Mahdood محدود Limited '' + `` Masooliyat مسئولیت Liability ''. Italy The Italian Civil Code, approved in 1942 and as amended by the Government Act 6 / 2003 and furthers modifications, mainly provides three forms of limited liability company : Società per azioni ( S.p.A. ) : the minimum required starting capital for an SpA is € 50,000. The capital is divided into shares ( azioni ) that can be transferred by endorsement or bought and sold on stock exchange. Only SpAs can be quoted in stock exchange market, issue corporate bonds, and other financial instruments. SpA form and a higher capital are required by law to operate in protected businesses ( i.e. banks, leasing companies, etc. ). Società a responsabilità limitata ( Srl ) : the minimum required starting capital for an Srl is € 10,000. Its capital is divided into stakes ( quote ) which can be bought or sold just by notarial act. Srls can issue corporate bonds but are subject to many limitations. Similar to the Srl is the Società Cooperativa a Responsabilità Limitata ( Scarl ) whose scope is not making profit but give benefits to stakes ' holders. Società in accomandita per azioni ( Sapa ) : the minimum required starting capital for a Sapa is € 120,000 divided into shares. Sapas have a mixed liability scheme, where standard shareholders have limited liability while managing shareholders have full liability. Except this, SAPAs are exactly like SPAs even if uncommon. Companies append the corresponding abbreviation to their company names. Japan Japan passed legislation in 1996 creating a new type of business organization, godo kaisha ( J - LLC ), a close variant of the American LLC. Japanese Tax authority does not consider J - LLC ( Godo - Kaisha ) a pass - through entity, but as a taxable entity. Latvia Limited liability company in Latvia is referred to as sabiedrība ar ierobežotu atbildību ( SIA ). SIA is taxed as a corporation. The minimum share capital required by law is € 2,800. But it is allowed to set up SIA with share capital € 1.00, but it must be increased to minimum share capital € 2,800 by increasing share capital with money or by moving at least 25 % from annual profit until capital will be € 2,800. Macedonia, Republic of Macedonian legislation contemplates LLCs as Друштво со ограничена одговорност ( Drushtvo so ogranichena odgovornost ). Companies working under this structure append the abbreviation д. о. о. ( d.o.o. ) to their name. The minimum required starting capital for a d.o.o. is € 5,000. Mexico Mexican legislation contemplates LLCs as Sociedades de Responsabilidad Limitada, also known for their abbreviation `` S. de R.L. ''. S. de R.L. 's award limited liability to its members up to their contribution in the company ( i.e., contribution of capital ) and also act as pass - through or flow - through entities whereby profits are `` passed - through '' to its members, avoiding double taxation. This type of company is widely used by foreign investors in Mexico because of its `` pass - through '' modality and its `` check the box '' capability under the IRC ( Internal Revenue Code of the U.S. ). Moldova Moldovan legislation contemplates LLCs as Societate cu Răspundere Limitată, abbreviated `` S.R.L. '', and are regulated member ( s ) - founder ( s ), and other non-founder members, minimum one member - founder and maximum total of 50 members, at least one of them must be the founder of the company, but all of the 50 could be also founders. Norway In Norway, the closest to an LLC is probably the kommandittselskap ( KS ). In a K / S there are two types of participants, one komplementar which is fully liable, and one or more kommandittist, with limited liability. There are minimum capital requirements. The KS is a tax - transparent company, which means the income `` passes through '' the company directly to the shareholders. Pakistan In Pakistan, LLCs are known as private companies that end ( Local Liability Company ) with Pvt. Ltd. They should have at least Rs. 100,000 as their minimum paid up capital. The Securities and Exchange Commission of Pakistan ( SECP ) has made it mandatory for all listed companies to file their documents, returns, accounts and applications through the commission 's eServices online filing facility, earlier, this requirement was only applicable to the companies, which had been incorporated through eServices online filing facility. Peru There is no direct equivalent of an LLC in Peru, but some similar corporate forms include : Sociedad anónima cerrada ( SAC ), a corporation which must have at least two and not more than twenty shareholders ; its shares may not be offered to the public and can not be traded on the stock exchange. Sociedad comercial de responsabilidad limitada ( SRL ), a commercial partnership divided in equal participations which may not be called `` shares ''. It must have at least two and not more than twenty partners. Sociedad civil de responsabilidad limitada ( S civil de RL ), a professional partnership of at least two and not more than thirty individuals, with co-owner participation in the form of capital, of professional contribution, or of any combination of both. Empresa individual de responsabilidad limitada ( EIRL ), a legal entity with one single owner. The capital for any of the above entities is freely determined by its statutes. There is no minimum requirement except for entities with certain types of activities, mainly in the financial markets, and then irrespective of their type. Poland In Poland, a limited liability company is referred to literally as `` company with limited liability '' ( spółka z ograniczoną odpowiedzialnością, legally abbreviated as sp. z o.o. ( or sometimes Sp. z o.o. in particular names ). Informally, in the Polish speaking slang, it is abbreviated as spółka zoo ( pronounced with a long `` o '', as in `` tow. '' ). However, sp. z o.o. has a ( separate from its owners ) legal personality, which gives it the ability to do certain actions under law, and it is considered a `` corporation ''. The minimum start capital is 5,000 PLN ( since 2009 ; until then, 50,000 PLN ). Portugal In Portugal, LLCs are called `` Sociedades de Responsabilidade Limitada '', that is, `` company of limited responsibility '', usually abbreviated Lda... They are tax subject, and company shares can not be sold in a public market, since 2006 the transference of them is not required to be done in the presence of a civil law notary, except if the company owns buildings, in the same way other major properties have to be sold. Nonetheless, the responsibility of the partners is limited to the capital share they hold, and the minimum capital required by law for a Lda. of € 5000. ( In 2006 the PS Government, led by José Socrates, did reduce the minimum capital to € 1, but in 2011 the new PSD Government, led by Pedro Passos Coelho, reinstated the € 5000 minimum capital. ) The capital is not required to be deposited at the time of the registration of the company, instead the share holders have until 31 December of the year the registry was made. Romania Romania recognizes the limited liability company since 1990 under the name of societate cu răspundere limitată ( S.R.L. ), in which the owners are personally liable for the company obligations within the limit of their contribution to social capital. The minimum start capital is 200 RON which currently amounts to less than € 50. Russia In Russia and certain other former Soviet countries, an entity with a somewhat similar structure is known as Общество с ограниченной ответственностью ( Obshchestvo s ogranichennoy otvetstvennost'yu ) ( lit., `` company with limited liability '' ), usually abbreviated OOO, or in some CIS countries as OcOO. Although a Russian limited liability company shares the same name with an American LLC, it is different in many ways. Most importantly, a Russian LLC is not tax transparent : the company is taxed at the corporate level, and then, upon distribution of dividends, shareholders pay income tax ( personal or corporate ). A limited liability company is the most popular form of legal undertaking in Russia for simple shareholding structures. The minimum capital required is 10,000 Russian rubles. Serbia Serbian legislation contemplates LLCs as Друштво са ограниченом одговорношћу. Companies working under this structure append the abbreviation d.o.o. or DOO to their name same as in Croatia. As in the Czech Republic, a d.o.o. is not technically comparable to an LLC because the profits are still subject to double taxation. In Kosovo a company does not need to provide proof for payment of capital. Slovakia In Slovakia, the law contemplates spoločnosť s ručením obmedzeným ( abbreviation spol. s r.o. or s.r.o. ) or as the rough equivalent of a limited liability company. It is very popular form of business organization due to ensurance of limited liability in exchange for a relatively small investment into the registered capital. From one to 50 associates can found it through a founding agreement with minimum registered capital of € 5000, minimum € 750 per person, in money or other property. ( § 105 -- 153 of Act. No 513 / 1991 Coll. -- Commercial Code as amended. ) Slovenia Slovenian legislation contemplates LLCs as družba z omejeno odgovornostjo. Companies working under this structure append the abbreviation d.o.o. to their name. The minimum required starting capital for a d.o.o. is € 7,500. Due to the high cost and complicated bookkeeping of a real corporation, this is a more widespread form. Spain In Spain, LLCs are called Sociedad de responsabilidad limitada ( SRL ), `` company of limited responsibility '', or sociedad limitada ( SL ), or `` limited partnership ''. They are tax subject, and company shares can not be sold in a public market, the transference of them having to be done compulsorily in the presence of a civil law notary, in the same way other major properties have to be sold. Nonetheless, the responsibility of the partners is limited to the capital share they hold, and the minimum capital required by law for a S.L. is at least € 3,000. Sweden Sweden has no equivalent of an LLC. The closest company form is the handelsbolag ( lit. : `` trade company '' ). The Swedish AB ( aktiebolag ; lit. : `` share company '' ), like the handelsbolag, is a tax subject and is more similar to a US C Corporation than an LLC. The minimum capital required by law in a private company, privat aktiebolag, is SEK 50,000, although this may be in the form of assets as well as capital. It should be noted that the AB structure requires shareholders, a Board of Directors, and regular meetings of both, together with complete accounts once per year. Depending on the size of the AB, the accounts may have to be audited. Creation or purchase `` off - the - shelf '' of an AB is relatively cheap and tax effective, but liquidation of a created aktiebolag can be an expensive and time - consuming operation. Creation of public limited liability companies, or publikt aktiebolag, which can raise capital from the public, requires a minimum capitalization of SEK 500,000, however the overall regulation of public companies in Sweden, especially regarding accounting methods and taxes, is thorough and detailed. Switzerland The Swiss Code of Obligations provides for different kinds of companies with limited liability, the two most commonly used are : Swiss Limited Liability Company : The terms for this kind of company used in the three official languages of the Swiss Confederation are as follows : In German Gesellschaft mit beschränkter Haftung ( abbreviation : GmbH ), in French Société à responsabilité limitée ( abbreviation : S. à r.l. or SARL ) and in Italian Società a Garanzia Limitata ( abbreviation : SaGL ). A Swiss LLC is similar to an LLC with respect to various matters, including the following : Members may also be natural persons, corporations, partnerships or other LLCs, the liability of a member of a Swiss LLC to pay for the LLC 's obligations is limited to its capital contribution, a Swiss LLC may be either member - managed or manager - managed, and, unless otherwise provided for in the operating agreement, the members ' right to control or manage a Swiss LLC is proportionate to their individual membership interest. The membership interests in a Swiss LLC have to be registered and, thus, they may only be issued in the name of a member but not to the bearer. Swiss Corporation ( in English common law context usually translated as company limited by shares ) : The terms for this kind of company used in the three official languages of the Swiss Confederation are as follows : In German Aktiengesellschaft ( abbreviation : AG ), in French Société Anonyme ( abbreviation : SA ) and in Italian Società Anonima ( abbreviation : SA ). A Swiss corporation is with respect to various matters different from an LLC ( including a Swiss LLC ) : Most important is that a Swiss corporation may, neither by default nor by exercising any respective option provided by the Swiss law, be member - managed like an LLC, as the respective mandatory provisions of Swiss law provide that the board of directors has certain non-transferable duties. Furthermore, the shares of a Swiss corporation may also be issued to the bearer ( bearer shares ) and, thus, not only in the name of a holder ( registered shares ), which, however, applies to the membership interests in a Swiss LLC, which may only be registered. Tajikistan In Tajikistan, the same as in Russia, an entity with a somewhat similar structure is known as `` Ҷамъияти дорои масъулияти маҳдуд '', Chamiyti Doroi Masuliyti Machdud, abbreviated as `` ҶДММ ''. Turkey Minimum capital should be 10,000 TL. That capital could be the minimum total capital of company. Number of founding shareholders ( real persons or legal entities ) could be minimum 1 and maximum 50. All or some of the shareholders could be foreign nationals. There is no issued stock certificates and all shareholders liability is limited to their registered capital amount. 1 / 4 of capital should be blocked in a Bank until procedure of registration ends. The equivalent of LLC for Turkish is Ltd. Şti. ( Which means Limited Şirketi. ) Ukraine This type of entity has existed in Ukraine since the 1990s. LLC is the most common type of business entity in Ukraine. In Ukrainian, it is spelled `` Товариство з обмеженою відповідальністю '' ( abbreviated -- TОВ, TзОВ ), in transliteration `` Tovarystvo z Obmezhenoyu Vidpovidalnistyu, '' that is, `` company with limited liability ''. By Ukrainian law LLC is a legal person. Authorized capital of LLC is divided into shares ( or stakes ), the amount of which is determined by the charter. LLC is responsible to the creditors only with its assets. Legal entities ( foreign or Ukrainian companies ) individuals, regardless of their country of citizenship or residency can be the founders ( participants ) of LLC. Limited liability company can be formed either by one person or by several individuals or legal entities ( corporations ). Maximum number of participants ( founders ) of LLC in Ukraine is 100. Since 2014 registration procedure has been significantly simplified in Ukraine. Minimum amount of authorised capital is 1 ( one ) hryvnia ( less than 0, 04 US cents ). There is no state fee for LLC formation. By Ukrainian Law LLC dividend payment is possible after the declaration of company 's income or profit to the fiscal / tax authorities and the approval of the income statement. Thus, regardless of the tax system, LLC can make dividend payments up to 4 times a year, or one time a quarter. Taxation. LLC can be registered : -- as corporate / profit tax ( 18 % rate ) with or without VAT ( up to 20 % rate, depends on product or service ) tax payer ; -- fixed tax rate ( in transliteration `` yediniy podatok '' or `` sproschena sistema opodatkuvannia '' ) is a 5 % rate from revenue, with or without ( on request ) VAT registration. United arab Emirates A Limited Liability Company ( LLC ) is the most common type of registration in the UAE and is recommended where the purpose of the entity is to make sales within the region. However, it should be noted that 100 % foreign ownership of such an entity is not permitted. Under the UAE Commercial Companies Law ( CCL ), foreign investors are permitted to hold up to 49 per cent equity ownership in UAE companies and 51 per cent of the equity must be held at all times by one or more UAE nationals. In accordance with Article ( 218 ) of the CCL a Limited Liability Company can be formed by a minimum of 2 and a maximum of 50 shareholders whose liability is limited to their shares in the capital of the company. Recent amendments to Article ( 217 ) of the CCL that came into force in June 2009 removed the requirement for minimum share capital ( previously AED 300,000 in Dubai and AED 150,000 in other Emirates ) allowing founders of a limited liability company the freedom to determine the company 's share capital which could be less than the earlier prescribed bottom line. Shares of an LLC are not open for subscription by the public. Despite the split in shareholdings, profits may be divided in other ratios agreed upon, taking into consideration efforts of foreign partners in management, provision of technology or expertise. Responsibility for the management of a LLC can be vested in the foreign partner or UAE national partners or a third party. A LLC must appoint a minimum of one manager and up to a maximum of five managers for the business. Managers must be appointed by a Memorandum of Association or by a management contract, for a fixed term or an unlimited term. Unless the Memorandum of Association states otherwise, the manager has full powers of administration and management of the LLC. LLC is not allowed to practice its activities in the UAE without a Trade License and Commercial Registration Certificate. United Kingdom The new form of limited liability partnership ( LLP ), created in 2000, is similar to a US LLC in being tax neutral : member partners are taxed at the partner level, but the LLP itself pays no tax. It is treated as a body corporate for all other purposes including VAT. Otherwise, all companies, including limited companies and US LLCs, are treated as bodies corporate subject to United Kingdom corporation tax if the profits of the entity belong to the entity and not to its members. United states A limited liability company ( LLC ) is a relatively new business structure authorized by state statutes. The LLC is chiefly inspired by the GmbH ( `` Company with limited liability '' ), a type of business organization in Germany, and by the limitada, a type of business organization available in many Latin American countries. In the United States, the first limited liability company act appeared in Wyoming in 1977 as special interest legislation for an oil company. In 1980, the Internal Revenue Service issued a private letter ruling to an LLC formed under the Wyoming LLC Act, indicating that the IRS would treat the LLC as a partnership for federal tax purposes. However, later that year, the IRS proposed regulations that would deny partnership classification to any business entity in which no member bore personal responsibility for the entity 's liabilities. In 1982, Florida adopted an LLC act modeled on Wyoming 's LLC Act. Due to uncertainty over the tax treatment of LLCs, no other states introduced LLC legislation until after 1988. In 1988, the IRS issued a revenue ruling stating that it would treat a Wyoming - style LLC as a partnership for tax purposes. By 1996, nearly every state had enacted an LLC statute. The National Conference of Commissioners on Uniform State Laws adopted the Uniform Limited Liability Company Act in 1996 and revised it in 2006. A potential disadvantage specific to the United States is that LLCs are not considered to be corporations for the purposes of federal civil procedure ; they are instead treated as partnerships. This affects the applicability of diversity jurisdiction in cases involving LLCs, barring application of diversity jurisdiction when even one member of the LLC is a citizen of the same state as one of the opposing parties. Should one member of an LLC be a citizen of a state of which one of the opposing parties is a citizen, any case between the LLC and those parties must be heard in that state 's courts ; corporations enjoy a more complete legal personhood that only denies diversity jurisdiction when the opposing party is a citizen of the state in which the corporation is incorporated ( most commonly Delaware for large corporations, which has a small population ) or has its principal place of business. AOL was set up as an LLC during its ownership by Time Warner from 2001 to 2008. There is a similar setup for BMW 's American subsidiary, BMW of North America, LLC. Chrysler has been an LLC since restructuring during the auto industry bailout of 2009, owned by Fiat Chrysler Automobiles N.V.. See also Besloten vennootschap met beperkte aansprakelijkheid, a Belgian ( bvba ) and Dutch ( bv ) private limited company Société à responsabilité limitée, LLCs in French speaking countries Incorporation ( business ) Limited Liability Partnership ( LLP ) List of company registers Types of business entity Wholly Foreign - Owned Enterprise References Jump up ^ `` Format ligjore të shoqërive - Acitad ''. Jump up ^ Ley de Sociedades Comerciales ( Spanish ) http://www.cnv.gov.ar/LeyesYReg/Leyes/19550.htm Jump up ^ ( Types of Companies in BiH `` Archived copy ''. Archived from the original on 10 June 2011. Retrieved 2011 - 05 - 17. ) Jump up ^ `` Lei 12.441 / 11 '' ( Law 12.441 / 11 ). Brazilian Chief of Staff ( in Portuguese ). July 11, 2011. Retrieved May 9, 2015. Jump up ^ `` Veja o valor do salário mínimo em 2015 '' ( Check the value of the minimum wage for 2015 ). g1.com.br ( in Portuguese ). January 1, 2015. Retrieved May 9, 2015. Jump up ^ Commerce Law of Bulgaria, English translation, Chapter 13, Section I, Article 116 Archived 16 June 2010 at the Wayback Machine. Jump up ^ Código de Comercio de Colombia, just like S.A.. Jump up ^ `` Screening report : Croatia '' ( PDF ). ec.europa.eu. 18 December 2006. Chapter 6 -- Company Law, section IIa. Company law, p. 3. Jump up ^ Limited Liability Companies Act 2006 ( English translation ) http://www.finlex.fi/en/laki/kaannokset/2006/en20060624.pdf Jump up ^ Steuerliche Einordnung der nach dem Recht der Bundesstaaten der USA gegründeten Limited Liability Company. ^ Jump up to : `` Historical Background of the Limited Liability Company ''. Llc-reporter.com. Retrieved 2012 - 01 - 04. Jump up ^ Σκουζός, Ιάσων. `` Procedure for the incorporation of a Greek Limited Liability Company ( E.P.E. ) - Iason Skouzos & Partners - Law Firm ''. Retrieved 31 May 2016. Jump up ^ Company type and name English. Investhk.gov.hk ( 2012 - 07 - 27 ). Retrieved on 2013 - 07 - 19. Jump up ^ `` Hungary KFT ''. Zenron Consulting. Retrieved 29 October 2014. Jump up ^ `` Company Conversion into LLP In India - Legalraasta ''. 15 May 2015. Retrieved 31 May 2016. Jump up ^ `` La S.p.A. si costituisce con capitale minimo di 50.000 € - FISCOeTASSE.com ''. Retrieved 31 May 2016. Jump up ^ `` Limited Liability Company Register-company.lv ''. register-company.lv. Retrieved 2017 - 07 - 31. Jump up ^ `` Micro-capital or reduced capital company Register-company.lv ''. register-company.lv. Retrieved 2017 - 07 - 31. Jump up ^ `` http://www.irfanlaw.com/blog/company-annual-statutory-return-filing-karachi-pakistan/ ''. Retrieved 31 May 2016. External link in title = ( help ) Jump up ^ `` http://www.sunarp.gob.pe/Aten24h/pdf/Anexo02.pdf '' ( PDF ). Archived from the original ( PDF ) on 5 March 2016. Retrieved 31 May 2016. External link in title = ( help ) Jump up ^ `` LEGE nr. 31 din 16 noiembrie 1990 privind societăţile comerciale ''. Cdep.ro. 2003 - 08 - 22. Retrieved 2012 - 01 - 04. Jump up ^ `` Limited Liability Company : Encyclopedia of Russian Law ''. Russianlawonline.com. 14 January 2009. Archived from the original on 5 March 2012. Retrieved 5 May 2012. Jump up ^ ITG. `` Llojet e bizneseve - ITG ''. Jump up ^ Zákon č. 513 / 1991 Zb. -- Obchodný zákonník ( in Slovak ) Jump up ^ `` Guide to doing business in Slovakia '' ( PDF ). Ružička Csekes ; CMS. January 2013. Retrieved 9 April 2014. Jump up ^ Swedish Companies Registration Office about Aktiebolag `` Archived copy ''. Archived from the original on 18 August 2010. Retrieved 2010 - 08 - 21. Jump up ^ `` Publika aktiebolag - Bolagsverket ''. Bolagsverket.se. Archived from the original on 15 February 2012. Retrieved 2012 - 01 - 04. Jump up ^ official German text : http://www.admin.ch/ch/d/sr/220/index3.html, official French text : http://www.admin.ch/ch/f/rs/220/index3.html, official Italian text : http://www.admin.ch/ch/i/rs/220/index3.html Jump up ^ Swiss Code of Obligations, articles 772ss ^ Jump up to : Unofficial translation of term pursuant to : Swiss Code of Obligations, Volume II, Company Law, Articles 552 -- 964, English Translation of the Official Text, Swiss - American Chamber of Commerce, Zurich 1992 Jump up ^ Swiss Code of Obligations, article 722 paragraph 1 Jump up ^ Swiss Code of Obligations, article 802 Jump up ^ Swiss Code of Obligations, article 811 Jump up ^ Swiss Code of Obligations, article 808 paragraph 4 Jump up ^ Swiss Code of Obligations, article 790 Jump up ^ Swiss Code of Obligations, articles 620ss Jump up ^ Swiss Code of Obligations, article 716a Jump up ^ Swiss Code of Obligations, article 622 paragraph 1 Jump up ^ Thor, Anatoliy. `` LLC formation Ukraine ''. Jump up ^ Thor, Anatoliy. `` Dividend payment in Ukraine ''. Jump up ^ `` legal forms of business ''. Jump up ^ trinitygroup.eu Jump up ^ `` Limited Liability Company ( LLC ) ''. Irs.gov. 2011 - 06 - 21. Retrieved 2012 - 01 - 04. Jump up ^ `` State of Wyoming Legislature ''. Retrieved 31 May 2016. Jump up ^ Keatinge et al., `` The Limited Liability Company : A Study of the Emerging Entity, '' 47 Business Lawyer 375, 383 - 384 ( Feb. 1992 ) ( citing Act of 4 March 1977, ch. 155, 1977 Wyo. Sess. Laws 512 ). Jump up ^ Priv. Ltr. Rul. 81 - 06 - 082, 1980 WL 137231 ( 18 Nov. 1980 ) Jump up ^ Prop. Treas. Reg. § 301.7701 - 2, 45 Fed. Reg. 75,709 ( 1980 ) Jump up ^ Fla. Stat. Ann. § § 608.401 -- 471 Jump up ^ Keatinge et al., `` The Limited Liability Company : A Study of the Emerging Entity, '' 47 Bus. Law. 375, 383 - 384 ( Feb. 1992 ) Jump up ^ Rev. Rul. 88 - 76, 1988 - 2 C.B. 360. Jump up ^ Larry E. Ribstein, A Critique of the Uniform Limited Liability Company Act, 25 Stetson Law Review 312, 322 ( 1995 ). Jump up ^ Limited Liability Company ( Revised ). Uniform Law Commission. Retrieved from `` https://en.wikipedia.org/w/index.php?title=Private_limited_company&oldid=795696738 '' Categories : Legal entities Types of business entity Hidden categories : CS1 Portuguese - language sources ( pt ) Webarchive template wayback links CS1 errors : external links Articles containing Albanian - language text All articles with unsourced statements Articles with unsourced statements from November 2009 Articles with unsourced statements from May 2009 Articles with unsourced statements from August 2014 Articles containing Spanish - language text Talk Contents About Wikipedia Беларуская ( тарашкевіца ) ‎ Català Español Esperanto Euskara فارسی Galego 한국어 Ирон Коми Magyar 日本 語 Oʻzbekcha / ўзбекча Polski Português Română Русский Scots Suomi Edit links This page was last edited on 15 August 2017, at 22 : 27. About Wikipedia

Question: what does pvt stand for in a company name
Answer: private company