Characteristically, there are major differences
|Sdn Bhd (Private Limited Company)||Sole Proprietorship / Partnership|
Personal assets & wealth are protected.
You can take greater risks to gear up the growth of your business.
Your personal assets & wealth will be jeopardized due to risks exposed in your business.
|Time to start your business||Immediately for Shelf Company
8-12 working days for New Company
|1 hour if you register the business yourself at SSM Office|
|Registration cost||RM980 for registration of new company
RM2,840 for new shelf company
|Continuity||1. Ownership transferable to spouse and second generation or saleable to any parties for a price
2. Even the major owner (shareholder) has passed away, the business will not be affected legally.
|1. Owner dies, business will cease operation immediately.
2. Once any one of the partner deceased, the partnership will be considered dissolved.
3. Anything happen to the owner or partner, the business will be legally considered ceased operations immediately, as the owner is company and company is owner.