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Limited Company

A Limited Company is a business entity with a legal personality separate from its shareholders. This means the company has its own rights, duties, and legal responsibilities. A key feature is that shareholders are only liable for the company’s debts up to the amount of unpaid shares they hold.

Key Features of a Limited Company

  • Requires at least 2 founders
  • Must have registered capital, divided into ordinary shares for shareholders
  • May be managed by a managing director or a board of directors on behalf of the shareholders
  • Must have company regulations and submit annual financial statements to the Department of Business Development (DBD)

Who Should Register a Limited Company?

Forming a limited company is suitable for entrepreneurs who wish to expand their business and build credibility, such as:

  • Businesses seeking growth and investment or joint ventures

  • Businesses with higher risk, as shareholders’ liability is limited

  • Businesses aiming to contract with large organizations or participate in government/private tenders

  • Businesses that require credibility, such as construction, legal, consulting, financial services, or technology companies

  • Startups planning to raise funds in the future

Why Register a Limited Company?

  • Enhances business credibility

  • Limits shareholder liability — no need to use personal assets to cover company debts

  • Provides a clear management structure

  • Facilitates future growth and fundraising