You must also choose the type of company structure which you want to adopt. The table below shows the different types of companies.

Type of Company

Private Company

Public Company

Private Company Limited by Shares

Has a maximum of 50 shareholders.

Exempt Private Company (EPC)

is one which:

  • Has a maximum of 20 shareholders.
  • No corporation is a shareholder.
  • The Minister has deemed to be an EPC under the Companies Act.

Public Company Limited by Shares

Public Company Limited by Guarantee

  • Is usually formed to carry out non-profit making activities such as promoting arts, etc.
  • Is one which has members instead of shareholders. These members agree to pay a fixed sum in case the company is wound up
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