When you’re balancing cost, flexibility, and growth potential, each structure offers unique advantages:

• Cost of Incorporation LLCs carry higher setup fees and minimum capital requirements, whereas a Sole Proprietorship and Freelance Licence significantly reduce upfront costs.
• Ownership and Control An LLC lets you bring in partners and limits personal liability. A Sole Proprietorship gives you full control but exposes personal assets. A Freelance Licence is ideal for solo service providers with minimal risk.
• Visa and Staffing Options LLCs allow multiple employee visas; Sole Proprietorships support a smaller team; Freelance Licences typically cover just the owner, making them perfect for one-person operations.
• Business Activities and Restrictions LLCs cover a wide range of commercial activities. Sole Proprietorships are limited to certain professional trades. Freelance Licences are restricted to specific service categories (media, tech, consultancy, etc.).
• Renewal and Ongoing Costs Annual licence renewals for LLCs and Sole Proprietorships are comparable, but Freelance Licences often come with the lowest renewal fees and minimal office space requirements.

Choosing the right structure depends on your budget, growth plans, and industry.

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