LTD or PLC?

Hello ,what is best to start business with LTD or PLC? We are three friends and we want to do imports from Turkey ?

That depends on where you are planning to get your front money from. A PLC must have capital accounts of 50K pounds sterling... or create shares for that much and presell at least 25% of them before it can become a PLC. So you have to have at least 12.5K pounds sterling just to start. Then you can sell shares. If you can raise it from people you know, I'd take the LTD company, but if you need outside funds from selling stock, then the PLC. Both cases require that you be able to SELL your company's ability to make a profit... but the PLC has more requirements in documentation ... and you can get into trouble if you don't givee the truth in those documents. It might be easier to get loans from third parties to a LTD company... but you are going to have some liability if you can't maintain at least 50K pounds sterling in basis for the capital of the company. It will revert to a LTD company if you can't.

POUNDS!????

Allrighty then.

The poster is ALL set to go, as long as he lives in the UK. Great.

From Wickipedia:
"PLC
Public limited company, in the UK, Ireland and the Philippines, is a type of limited company whose shares may be sold to the public"

"LTD
Private company limited by shares (Ltd or Ltd.), a type of company incorporated under the laws of England and Wales, Scotland, that of certain Commonwealth countries and the Republic of Ireland"

In the US, we describe our companies occasionally as Ltd., but we are usually referring to Limited Liability Companies and Corporations... LTD is just part of the name. The choice of the owners.

In the US, a public limited company would be a C-Corp or an S-Corp which has a limited list of owners.

I figured the poster was English or Turkish and wanted to start a company based on names that sounded familiar. Apparently one end of the company would be here. But that shouldn't stop them from setting up the first company in England or Scotland or Turkey.

Maybe it would be a good idea to seek advice about the laws in OTHER countries elsewhere than in an AMERICAN LEGAL forum?

To the poster---are you looking for British law, or are you simply using the wrong terms?

(translation: What is your location?)