Private Business Corporation (PBC)

Key Features of Private  Business Corporation (PBC)

  • It is a separate legal entity.
  • Audited financial statements are not required.
  • It can become a shareholder in other companies.
  • The shareholders or owners are called members.
  • All members of a PBC may take part in the management.
  • Meetings are not compulsory and can be held on an ad hoc basis.
  • The members/ shareholders/ owners are not personally liable for the debts.
  • The legal procedures for registration and administration are kept relatively simple.

Private Limited (Pvt) Limited

Key Features of Private Limited Companies

  • A Private Limited Company (PLC) is a legal entity.
  • Audited financial statements are required for Private Limited Companies.
  • Meetings are compulsory and are held as general or extraordinary general meetings.
  • Private Limited Companies (PLCs) can become shareholders in other companies.
  • The shareholders or owners of a Private Limited Company are called members.
  • The members/ owners or shareholders of a PLC are not personally liable for the debts of a Private Limited Company.

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