Sole proprietorship registration is open to any natural person with legal capacity residing in this country. A natural person may register only one sole proprietorship. A sole proprietor’s trade name must contain his/her unabbreviated public name, i.e. the given name and surname or middle name that he/she is known by in public.
A limited liability company may be set up by one or more persons, who are liable for the company’s debts to their share in the capital. The trade name must contain the designation “Limited Liability Company” abbreviated as LLC (OOD).
A single-member private limited liability company is owned by a single person who is liable for the company’s debts to the amount of the capital. The trade name contains the designation “Single-Member LLC” (EOOD).
A joint-stock company is a business entity whose capital is divided into shares. The company is liable to its creditors with its assets. Appended to the trade name of a joint-stock company is the designation “stock company” or the abbreviation SC (AD).
A partnership is a business entity set up by two or more persons to carry out business transactions under a common trade name. The partners are jointly liable without limit. The trade name of a partnership is made up of the last names (surnames) or trade names of one or more of the partners with the designation “partnership” or “and company” (& Co.).
A limited partnership is set up by two or more persons entering into a contract to carry out commercial activities under a common trade name whereas one or more of the partners are general partners with unlimited joint liability for the partnership’s debts and all other partners are liable to the amount of their contribution as agreed. The partnership’s trade name must contain the designation “limited partnership” or the abbreviation LP (КД) and the name of at least one of the general partners.
A limited joint-stock partnership is set up by means of a contract whereas shares are issued for the contributions of partners with limited liability whose number may not be less than 3. The partnership’s trade name must contain the designation “limited joint-stock partnership” or the abbreviation LSP (КДА).