Limited Liability Company


A Global Business Company may apply to the Registrar of Companies either at the time of incorporation, continuation or after to be designated as a Limited Liability Company (LLC). A Global Business Company Category 2 may also be registered as a LLC. LLCs guarantee members liability and are treated as a partnership' (or look through) for income tax purposes.

An LLC is charactertised by:
  • Duration limited to 50 yrs with the possibility of extension to a maximum of 150 yrs.
  • Limitation on transfer of shares or other interests in the company unless by unanimous shareholders' resolution.
  • Management of the company by its member(s) or a manager.
  • Dissolution of the company upon death, insanity, bankruptcy, expulsion, cessation or dissolution of a member.

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