FOR YOUR INFORMATION... LLC A limited liability company (LLC) is a flexible form of enterprise that blends elements of partnership and corporate structures. An LLC is not a corporation; it is a legal form of company that provides limited liability to its owners in the vast majority of United Statesjurisdictions. LLCs do not need to be organized for profit.[1] In certain US states, businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but required to form a very similar entity called a Professional Limited Liability Company (PLLC) Ltd., A limited company is a company in which the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee. And the former of these, a limited company limited by shares, may be further divided into public companies and private companies. Who may become a member of a private limited company is restricted by law and by the companys rules. In contrast anyone may buy shares in a public limited company. LLP A limited liability partnership is a partnership in which some or all partners have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partners misconduct or negligence. ... SAOG = Société Anonyme Omanaise Générale (Oman) SAOC Société Anonyme Omanaise Close SAOC and SAOG are two types of joint stock companies with Governments shares involved. Any joint stock company is formed by three or more individual or entities, whose liability is limited to the nominal value of their shares in the company’s capital. If minimum 40 % of a company’s shares are issued for public subscription it is considered as a general joint stock company (SAOG). The minimum capital required in RO 2 million ( US $ 5.2 million) ; Otherwise it is considered as closed joint stock company (SAOC) and the minimum capital required is RO 500,000 ( US $ 1.3 million) The other forms of business entities in Oman are limited liability company, holding company and general partnerships, formed by two or more individuals or entities, limited partnerships, which is formed by one or more general partners and sole proprietorships.
Posted on: Sun, 04 May 2014 04:22:02 +0000