[Business Formation] – Legal Pros and Cons of Sole Proprietorship, Partnership and Private Company Limited By Shares.

[Business Formation] – Legal Pros and Cons of Sole Proprietorship, Partnership and Private Company Limited By Shares.

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In this article, we will cover the legal pros and cons of the three most common types of business entities in Hong Kong, namely, (1) sole proprietorship, (2) partnership and (3) private company limited by shares.

For those who want to start their own businesses, the choice of business formation is important. It can affect your personal exposure to business liabilities, your ability to raise capital and the degree of legal compliances that you need to adhere to. It can also affect the way you as an individual or business are taxed.

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