What are the types of companies in Kiribati?

There are different types of companies in Kiribati. These are:

1. Individual Business: It is a type of business managed by one person and whose responsibilities belong to a single person. Such companies can be established at low costs but have limited capital.

2. Partnership: It is a type of business established between at least two people. Partners share profits and responsibilities. Partnerships can be in the form of general partnerships, limited partnerships or limited liability companies.

3. Limited Company: A type of company established by one or more individuals and is a separate legal entity. Limited companies are subject to the principle of limited liability and the liability of partners is limited to the capital they invest.

4. Companies: There are various types of companies in Kiribati, such as joint stock companies and private companies. Joint stock companies are companies that can raise capital through shares and limit the liability of their owners. Private companies may be subject to the principle of limited liability.

5. Cooperatives: Cooperatives also exist in Kiribati. Cooperatives are businesses established to meet the economic, social and cultural needs of their partners. Cooperatives have a democratic structure where members manage by making joint decisions. Each of these types of companies has different advantages and disadvantages, and their establishment requires compliance with certain legal regulations. When choosing a business type, business owners should choose the one that best suits their needs and goals.