Anne and John have decided to create a new company, but they are not sure of which legal form should they use; on the one hand, they would prefer to create a Civil Society since it does not need any minimum capital, but they are scared of the total liability that comes with it.
On the other hand, they could create a Limited Company, since the liability only includes the assets included in the company, but the necessary capital is too high.
Could you explain Anne and John the differences between those types of legal forms? Do you think there is any other type they should consider?
Anne and John have decided to create a new company, but they are not sure of which legal form should they use; on the one hand, they would prefer to create a Civil Society since it does not need any minimum capital, but they are scared of the total liability that comes with it.
On the other hand, they could create a Limited Company, since the liability only includes the assets included in the company, but the necessary capital is too high.
Could you explain Anne and John the differences between those types of legal forms? Do you think there is any other type they should consider?
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