LLC, Private Limited, IBC Comparison

Updated time: 11 Nov, 2015, 00:00 (UTC+08:00)

	LLC	Private Limited	IBC
Annual filings	Varies but generally simple: company renewal, sometimes summarized financial statement.	Varies but generally requires declaration of directors, shareholders, activities, and financial statements.	None.
Officials	Members.	Directors.	Directors.
Ownership	Member agreement.	Shareholders.	Shareholders.
Public records	Often just name of company.	Company details, details about directors, and sometimes shareholders	None.
Record keeping	Often simple but must be kept.	Detail records to be kept.	Often simple but must be kept.
Taxation	Pass-through (members are taxed on personal income).	Corporate tax.	None.