Limited Life Company (LLC)

A Global Business Company may apply to the Registrar of Companies either at the time of incorporation, continuation or after to be designated as a LLC. A GBL 2 may also be registered as a LLC. LLC’s guarantee members liability and provide a “partnership” (or look through) Income Tax Treatment.

Characteristics

• Duration limited to 50 years with the possibility of extension to a maximum of 150 years

• Limitation on transfer of Shares or other interests in the Company unless by unanimous Shareholders resolution

• Management of the Company by its member(s) or a Manager

• Dissolution of the Company upon death, insanity, bankruptcy, expulsion, cessation or dissolution of a member