Limited companies do not belong to individual businesses.
Limited companies are enterprises, small-scale taxpayers or general taxpayers. A limited liability company is an economic organization established by less than 50 shareholders with limited liability to the company to the extent of their subscribed capital contribution, and a legal person of the company is fully responsible for the company's debts with all its assets. Self employed businesses refer to the self-employed who use personal or family property as business capital, have been approved and registered according to law, and engage in non-agricultural industrial and commercial business activities within the legal scope. The nature of individual businesses is private non enterprise. A limited company must have its own fixed business premises and employees, and there is no restriction on individual businesses. Individual businesses engaged in passenger and cargo transportation, trafficking, stall setting and mobile services need not have fixed business premises. The investment subject of the two is different. The investment subject of the limited company is a legal person, and the investment subject of individual businesses can only be a natural person.
Legal basis
Article 54 of the Civil Code of the People's Republic of China [Definition of individual businesses] A natural person engaged in industrial and commercial operations shall be registered as an individual business according to law. Individual industrial and commercial households may adopt shop names.
Article 2 of the "Regulations on Individual Businesses" refers to individual businesses where citizens who are capable of doing business and have been registered with the administrative department for industry and commerce in accordance with the provisions of these Regulations and are engaged in industrial and commercial operations. Individual businesses can be operated by individuals or families. The legitimate rights and interests of individual businesses shall be protected by law, and no unit or individual may infringe upon them.
