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Private limited company
A private limited company is any type of business entity in "private" ownership used in many jurisdictions, in contrast to a publicly listed company, with some differences from country to country. Examples include: the LLC in the United States, private company limited by shares in the United Kingdom, GmbH in Germany and Austria, Besloten vennootschap (BV) in The Netherlands and Belgium, société à responsabilité limitée (SARL) in France, società a responsabilità limitata (S.r.l.) in Italy, and sociedad de responsabilidad limitada (SRL) in the Spanish-speaking world. The benefit of having a private limited company is that there is limited liability.
In Albania, a limited liability company (Albanian: Shoqëri me përgjegjësi të kufizuar Sh.p.k) is a commercial company founded by persons of physical or judicial status, who are not liable for the company and personally bear losses only up to the outstanding contribution agreements. Partners' contributions constitute the registered capital of a limited liability company. Each partner has his quota in the company in proportion to the contribution of the capital so the registered capital of the company is divided between the partners based on the proportional ratio of their contribution. In Albania a limited liability company may not have a capital of less than 100 lek.
Although not an exact equivalent, the Argentine variant of the LLC is called Sociedad de Responsabilidad Limitada (S.R.L.) and it limits the liability of its members up to their capital contribution in the company. The equity is divided into equal stakes (can not be called "shares"), each one of which represents a percentage of the company and that can not be traded on the stock exchange. Their by-laws are regulated by law N° 19550 and the commercial partnership is limited to a maximum of 50 partners.
In Bolivia, the LLC variant is called Sociedad de Responsabilidad Limitada (S.R.L.). These companies' legal framework consist in the Trade Code (Decree Law N° 14379 of February 25, 1977), its modifications and other supplementary laws. The members participate in it through capital stakes, and their liability is limited to the value of their contributions. The number of members must be minimum 2 and maximum 25.
Bosnian and Herzegovinian legislation, similarly to that in Serbia, Montenegro, North Macedonia contemplates LLCs as društvo s ograničenom odgovornošću (d.o.o.). Companies using this structure append the abbreviation d.o.o. to their company name. A shareholder or member in a d.o.o. is only personally liable up to the value of the member's investment in the company.
The corporate structure in Brazilian law most similar to the American LLC is the Sociedade Limitada ("Ltda."), under the new Brazilian Civil Code of 2002. The sociedade limitada is the new name of the sociedade por quotas de responsabilidade limitada, and it can be organized as empresária or simples, under this new code, roughly corresponding to the form types of comercial ("commercial") and civil ("non commercial") of the Commercial Code. A new law in Brazil has made it legal to obtain an LLC by a sole-proprietor in two forms: Empresa Individual de Responsabilidade Limitada (Eireli for short), or Sociedade Unipessoal Limitada ("Ltda."). The main requirement for an Eireli is a capital of 100 times the current minimum wage, R$ 78.800,00 (US$26.267.00) as of 2015; whereas for a Sociedade Unipessoal Limitada the same rules apply as for other Sociedades Limitadas
Bulgarian legislation corresponds LLCs (Ltd, GmbH, SARL, etc.) as "Дружество с ограничена отговорност" (Druzhestvo s ogranichena otgovornost; company with limited liability). Companies incorporated under this structure append the cyrillic abbreviation ООД (Latin script: OOD) to their name. In the case of an LLC incorporated with a sole-shareholder/member (sole-ownership), this is designated and known as "Еднолично дружество с ограничена отговорност" (Ednolichno druzhestvo s ogranichena otgovornost; sole-ownership company with limited liability) and abbreviated as ЕООД (EOOD). The EOOD specifically, is exempted from annual, general or extraordinary meetings for making decisions and may just issue written resolutions.
As part of the European Union Bulgarian companies can obtain an EU VAT registration number for cross-border trade within the EU, can be searched by both VIES and BRIS.
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Private limited company
A private limited company is any type of business entity in "private" ownership used in many jurisdictions, in contrast to a publicly listed company, with some differences from country to country. Examples include: the LLC in the United States, private company limited by shares in the United Kingdom, GmbH in Germany and Austria, Besloten vennootschap (BV) in The Netherlands and Belgium, société à responsabilité limitée (SARL) in France, società a responsabilità limitata (S.r.l.) in Italy, and sociedad de responsabilidad limitada (SRL) in the Spanish-speaking world. The benefit of having a private limited company is that there is limited liability.
In Albania, a limited liability company (Albanian: Shoqëri me përgjegjësi të kufizuar Sh.p.k) is a commercial company founded by persons of physical or judicial status, who are not liable for the company and personally bear losses only up to the outstanding contribution agreements. Partners' contributions constitute the registered capital of a limited liability company. Each partner has his quota in the company in proportion to the contribution of the capital so the registered capital of the company is divided between the partners based on the proportional ratio of their contribution. In Albania a limited liability company may not have a capital of less than 100 lek.
Although not an exact equivalent, the Argentine variant of the LLC is called Sociedad de Responsabilidad Limitada (S.R.L.) and it limits the liability of its members up to their capital contribution in the company. The equity is divided into equal stakes (can not be called "shares"), each one of which represents a percentage of the company and that can not be traded on the stock exchange. Their by-laws are regulated by law N° 19550 and the commercial partnership is limited to a maximum of 50 partners.
In Bolivia, the LLC variant is called Sociedad de Responsabilidad Limitada (S.R.L.). These companies' legal framework consist in the Trade Code (Decree Law N° 14379 of February 25, 1977), its modifications and other supplementary laws. The members participate in it through capital stakes, and their liability is limited to the value of their contributions. The number of members must be minimum 2 and maximum 25.
Bosnian and Herzegovinian legislation, similarly to that in Serbia, Montenegro, North Macedonia contemplates LLCs as društvo s ograničenom odgovornošću (d.o.o.). Companies using this structure append the abbreviation d.o.o. to their company name. A shareholder or member in a d.o.o. is only personally liable up to the value of the member's investment in the company.
The corporate structure in Brazilian law most similar to the American LLC is the Sociedade Limitada ("Ltda."), under the new Brazilian Civil Code of 2002. The sociedade limitada is the new name of the sociedade por quotas de responsabilidade limitada, and it can be organized as empresária or simples, under this new code, roughly corresponding to the form types of comercial ("commercial") and civil ("non commercial") of the Commercial Code. A new law in Brazil has made it legal to obtain an LLC by a sole-proprietor in two forms: Empresa Individual de Responsabilidade Limitada (Eireli for short), or Sociedade Unipessoal Limitada ("Ltda."). The main requirement for an Eireli is a capital of 100 times the current minimum wage, R$ 78.800,00 (US$26.267.00) as of 2015; whereas for a Sociedade Unipessoal Limitada the same rules apply as for other Sociedades Limitadas
Bulgarian legislation corresponds LLCs (Ltd, GmbH, SARL, etc.) as "Дружество с ограничена отговорност" (Druzhestvo s ogranichena otgovornost; company with limited liability). Companies incorporated under this structure append the cyrillic abbreviation ООД (Latin script: OOD) to their name. In the case of an LLC incorporated with a sole-shareholder/member (sole-ownership), this is designated and known as "Еднолично дружество с ограничена отговорност" (Ednolichno druzhestvo s ogranichena otgovornost; sole-ownership company with limited liability) and abbreviated as ЕООД (EOOD). The EOOD specifically, is exempted from annual, general or extraordinary meetings for making decisions and may just issue written resolutions.
As part of the European Union Bulgarian companies can obtain an EU VAT registration number for cross-border trade within the EU, can be searched by both VIES and BRIS.
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