Difference between a Private Limited Company & a Private Business Corporation
Difference between a Private Limited Company & a Private Business Corporation
Private Limited Company |
Private Business Corporation |
| Can be used by SME’s and huge businesses. | Mostly meant for small businesses. |
| Allows you to embark in as many business activities because the memorandum of association can list as many business activities as possible. | Allows only 3-4 business activities because the PBC statement of incorporation only allows that few business activities to be listed. |
| Minimum number of directors is 2. | Can have 1 director. |
| Maximum number of directors is 50. | Maximum number of directors is 20. |
| Directors are separate from shareholders. | Directors and shareholders are the same. |
| Allows individuals and companies to be shareholders. | Only allows individuals to be shareholders. |
| Does not accommodate sole traders. | Can accommodate sole traders. |
| Output | Output |
|
Certificate of incorporation |
Certificate of incorporation |
|
CR 5 (Former CR 6) List of company addresses |
Statement of incorporation |
|
CR 6 (Former CR 14) List of company directors |
|
|
Memorandum and articles of association |
|
|
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Before registering my company, I didn’t know the difference between a Private Limited Company and a Private Business Corporation. Company Formations agents helped me to make the right choice.
George Machingauta
T: (+263) (0242) 753 168
M: (+263) 787 828 513
info@companyformations.co.zw
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