You can choose a type of company based on different considerations or factors. The most important factor in choosing a suitable type of company is the shareholding structure. You will decide the type of company on the basis of the number of shareholders. If you want to keep the company in your close circle of family or friends, your choice may be different from the case in which you want large public funds.
The second factor that may affect your decision is the liability of the members of the company. You must consider beforehand how and to what extent the members of the company will be responsible in case of winding up.
Another factor while choosing a type of company is the profitability of the business of the company; you are doing business for profit or it’s a non-profit venture.
Keeping in view the above factors you can make a decision to choose your preferred type of company from the different types of companies listed below.
After finalizing the type of company, you can follow the step-by-step guide to know how you can register your company. Next, you can register your company online for which you will have to register on the SECP portal.