SOLE PROPRIETORSHIP
A sole proprietorship is a business that can be owned and controlled by an individual, so you can register your business in the type of sole Proprietorship, Starting at $1200 with no maintenance fees, it is the best choice for startups.
it is good to start your business with the lowest cost but has unlimited liability regarding its owner
The legal status of a sole proprietorship can be defined as follows:
- It is not a separate legal entity from the business owner
- The business owner has unlimited liability (i.e. the business owner is personally liable for all the debts and losses of the sole proprietorship)
- It can sue or be sued in the owner’s name