Below is a comprehensive guide on a private a limited company in Ireland also referred to as an LTD. A private company limited by shares is a company where its shareholders liability is limited to the number of shares that they own, i.e. Its Shareholders are limited to its Creditors to the amount of shares they own in the company. A Private Company Limited By Shares cannot be traded on the stock exchange. Private Companies limited by shares are required to have the suffix “Limited” or “Ltd” after their name. This type of company must still make an annual return to the Companies Registration office, regardless to whether it has traded or not.
The Companies Registration Office (CRO) in Ireland administers this type of company under the Companies Act 2014. If you register a company in Ireland for trade it will most likely be this company type. We are here to guide you through the process of incorporation. Looking for more information about us?
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What Are The characteristics of a Private Limited Company with Shares??
This is the most popular company type in Ireland as it can be easily managed from abroad.
1.
Officers of the company
A private limited company must have at least one director. Directors are responsible for managing the company and making decisions in its best interests on a day to day basis. Directors’ duties and responsibilities are outlined in company law. It can have only one Director but needs a separate Secretary.
2.
Shareholders
Private limited companies issue shares to their shareholders, which represent ownership in the company. These shares are typically held privately and cannot be freely traded on public stock exchanges. The company’s share capital is divided into a fixed number of shares of a certain value each. Shareholders are separate from Directors. There is no requirement for Directors to have Shares in the company.
3.
Limited Liability
The liability of the company’s shareholders is typically limited to the amount of unpaid shares they hold. This means that shareholders’ personal assets are generally protected in the event of company debts or liabilities.
4.
The Company Name
The company’s name must be registered with the CRO and must be unique, not misleading, and meet other criteria outlined in company law.
5.
Registered Office
The company must have a registered office in Ireland where official correspondence and notices can be sent. This can be provided with mail scanning and secure storage.
6.
Separate Legal Entity:
A private limited company is a separate legal entity distinct from its shareholders. This means that the company can own property, enter into contracts, and sue or be sued in its own name.
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Updated 21/08/2023