Question 1

What is the cheapest entity to register?

Accepted Answer

A Sole Proprietor is the lowest-cost option.

Question 2

Can I switch from Sole Proprietor to a Limited Liability Company later?

Accepted Answer

Yes. Many entrepreneurs start as Sole Proprietors and later incorporate as an LLC for liability protection and growth.

Question 3

How long does business registration take?

Accepted Answer

Typically 5–10 business days, depending on entity type and document accuracy.

Question 4

Do Non-Profits have extra requirements?

Accepted Answer

Yes. Non-Profits incorporated under the Companies Act must also register with the NGO Unit (Non-Profit Organisations Act, 2019) for full compliance.

Question 5

What is FIU registration and who needs it?

Accepted Answer

The Financial Intelligence Unit (FIU) registration is required for certain businesses (e.g., financial services, real estate) before opening a bank account.

Question 6

What’s the difference between a Non-Profit Company and an Unincorporated NPO?

Accepted Answer

A Non-Profit Company is incorporated under the Companies Act and is a legal entity. An unincorporated NPO is usually a community group with a constitution but no separate legal identity.

Question 7

What documents do I need to register a company?

Accepted Answer

You’ll need ID for all owners/directors, proof of address, a proposed company name, and supporting forms depending on the entity.

Question 8

Do I need a lawyer to incorporate a business?

Accepted Answer

Not always, but many businesses hire professionals like Shark Ads to ensure accuracy and avoid rejection of filings.

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