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| LLC | Private Limited | IBC | |
|---|---|---|---|
| Annual filings | Varies but generally simple: company renewal, sometimes summarized financial statement. | Varies but generally requires declaration of directors, shareholders, activities, and financial statements. | None. |
| Officials | Members. | Directors. | Directors. |
| Ownership | Member agreement. | Shareholders. | Shareholders. |
| Public records | Often just name of company. | Company details, details about directors, and sometimes shareholders | None. |
| Record keeping | Often simple but must be kept. | Detail records to be kept. | Often simple but must be kept. |
| Taxation | Pass-through (members are taxed on personal income). | Corporate tax. | None. |
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