What are the types of companies in Maldives?
There are various types of companies in the Maldives. The most common among these are:
1. Limited Liability Company: Limited Liability Company, the most common type of company in the Maldives, can be established by at least two partners. Each partner's liability is limited and their personal assets are not at risk due to the company's debts.
2. Joint Stock Company: This type of company is a company that raises capital through shares and can be public or closed. It can be established by at least two partners and the liability of the company is limited. 3rd Party Company (Sole Proprietorship): This type of company is a company operated and managed by a single person. The owner of the company is individually responsible for all debts of the company.
4. Partnership: Partnership is a type of company established between at least two people and sharing profits and losses jointly. Liability of partners may or may not be limited.
5. Cooperative Company: A cooperative is a type of company where members come together to achieve a common goal. Members manage the company's activities and share the profits. Each of these types of companies may have different advantages and operate under different rules and regulations. When choosing your company type, it is important to consider your business and needs. It may also be helpful to consult an attorney or business consultant.
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