Company Limited by Shares
| Limited liability | yes |
| Governing document | articles |
| Can it issue shares? | yes |
| Can it pay a return on shareholdings? | yes |
| Does it have a regulatory body? | Companies House |
| Can it have charitable status? | it’s possible, but not advisable |
| Does it have an asset lock? | not unless it’s a charity, so “no” |
Read more about companies limited by shares
Limited Liability Partnership (LLP)
| Limited liability | yes |
| Governing document | agreement or deed |
| Can it issue shares? | no |
| Can it pay a return on shareholdings? | no |
| Does it have a regulatory body? | Companies House |
| Can it have charitable status? | no |
| Does it have an asset lock? | no |
Read more about LLPs
Industrial and Provident Society
Bona fide cooperative
| Limited liability | yes |
| Governing document | rules |
| Can it issue shares? | yes |
| Can it pay a return on shareholdings? | yes |
| Does it have a regulatory body? | Financial Services Authority (the FSA) |
| Can it have charitable status? | no |
| Does it have an asset lock? | no |
Read more about IPSs
OCVA make no guarantees as to the accuracy of this information which is for illustrative purposes only.
