Introduction
If you’re interested in starting a business in Ireland, it’s important to understand the different Ireland company available. In this blog post, we’ll discuss the three main types of companies in Ireland and their respective characteristics.
Private Limited (LTD)
Private Limited Companies, also known as Limited Liability Companies (LLCs), are the most common type of company in Ireland. They are the preferred choice for small to medium-sized businesses as they offer limited liability protection to their shareholders. A Ltd must have at least one shareholder and a minimum share capital of €1. The directors of a Ltd are appointed by the shareholders and are responsible for managing the company.
Designated Activity Company (DAC)
Designated Activity Companies are a new type of company introduced in Ireland in 2014. They are similar to Ltds, but their constitution specifies the activities that they can engage in. DACs must have at least two directors and a minimum share capital of €1. DACs are commonly used for special purpose vehicles and joint ventures.
Public Limited Company (PLC)
Public Limited Companies are suitable for businesses that want to raise capital from the public by selling shares on the stock market. They are required to have a minimum of two directors and a minimum share capital of €25,000. PLCs are also subject to more stringent reporting and disclosure requirements than Ltds and DACs.
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Summary
Choosing the right type of company structure is an important decision when starting a business in Ireland. Private Limited Companies are the most common type of company and are suitable for small to medium-sized businesses. Designated Activity Companies are a new type of company that are suitable for special purpose vehicles and joint ventures. Public Limited Companies are suitable for businesses that want to raise capital from the public. It’s important to consider the characteristics of each type of company and choose the one that best suits your business needs. It’s also advisable to seek professional advice from a lawyer or accountant before making a decision.
This article does not constitute legal advice.
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