Guarantee Company Without A Share Capital
The types of organizations who form a Guarantee Company Without Share Capital are Charitable Organizations, Property Management companies, Educational Establishments and Professional Bodies, as they want to secure the benefits of separate legal personality and of limited liability but do not require to raise funds from the members.
The Liability of the members of the company is limited to the amount they have contributed to the assets of the company in the event it is wound up, not exceeding the amount specified in the memorandum. As the company does not have share capital, the members of the company are not required to buy shares in the company.
Many companies of this type wish to apply for tax exemption, and the Memorandum and Articles of association of this type of company must be specifically scripted for this application. The information required to form this type of company is as follows:
- The company name. You can check the availability on our website free of charge and get instant results.
- There must be two directors, and their Residential addresses, and dates of birth are required.
- The activity of the company must be submitted in the Memorandum of association.
- There must be seven subscribers to the Memorandum and Articles of association. The directors can be subscribers and their names, Residential addresses, are required.
- A company secretary must be nominated, this can be a Director. The Name and Residential address of the Secretary must be submitted.
- An address within the state must be used for the registered office, and this cannot be a P.O.Box.
If you require this type of company to be set up, we can process this for you between 3 and 5 days of you submitting your information from the Directors, Secretary, and Subscribers. Please fill in the form below if you require further information or require a quotation.