There is a difference between the sole proprietorship and the one person company
1- Regarding the name of the company:
The one-person company must first have a certificate of non-ambiguity, and this certificate guarantees that the name of the company will not be repeated, and this certificate we will get from the commercial register, and a first and essential step in establishing all types of money companies and one-person companies,,,
As for the individual establishment, we do not obtain a certificate of confusion from the commercial register, and it is possible that the name of the company remains repeated and similar to the names of other companies..
2- Concerning the conversion to a company:
A one-person company can be transformed into a company by an administrative decision from the owner of the company, or it can be transformed into a limited liability company (LLC) or a joint stock company
As for the individual establishment, it cannot be transformed into any type of company in any way
3- For the company’s headquarters:
For a one-person company, it can be established for the first year without a headquarters.
As for the individual establishment, it must be in a headquarters, and the first step of its steps is a lease contract with the date fixed, even if it is a virtual headquarters (shared office).
4- For tax inspection:
For a one-person company, for the first time, he will not be in a tax inspection for a full year,,,
As for the Al Qardi facility, it will be in the first year tax inspection
5 - Financial disclosure
With regard to the one-person company, it deals with the treatment of money companies, meaning that your financial liability as the owner of a one-person company is completely separate from the company’s financial liability. In other words, if there are taxes on the company or debts, God forbid that your private money will be safe and completely separate from the debts owed by the company.
This is unlike the individual establishment. Your financial liability and the liability of the establishment are one and are inseparable. Even if the establishment does not know how to pay off what it owes, then you have a personal debt.
6- Tax accounting
The one-person company is charged with tax accounting, and it deals in this point like money companies, meaning it takes from the company’s net profit 22,5%,,,
As for the sole proprietorship, it deals in segments in terms of tax accounting
7- In terms of liquidating the company:
The liquidation of a one-person company will have longer procedures than the sole proprietorship, and it will be a little more expensive than the sole proprietorship.
8- Regarding the deposit of capital :
For a one-person company, you must make a deposit of the entire capital with a certificate and get it back again after obtaining the commercial registration in two days ,,,
As for the sole proprietorship outside the investment commission, it does not make any capital deposits in the bank
9- With regard to the security inquiry for some activities such as real estate marketing, training centers, advertising and any activity related to the Internet:
In a one-person company, there is no security inquiry on the person who owns the company
As for the individual establishment, a security inquiry is made on the person, which takes from 3 to 6 months, until the commercial registration is issued
