what is a pty ltd business
What is a PTY LTD Company. Pty Ltd is an abbreviation for Proprietary Limited. Proprietary means the company is privately held and the Limited means the liability of the shareholders to pay the debts of the company is limited by the amount of shares.Australian Pty Ltd companies have a few requirements and restrictions:1  Must have at least one director that lives in Australia.roprietary means the company is privately held and the Limited means the liability of the shareholders to pay the debts of the company is limited by the amount of shares. Australian Pty Ltd companies have a few requirements and restrictions: 1  Must have at least one director that lives in Australia.