Company types in Ireland, which one suits me better

Company types in Ireland

There are many reasons to choose Ireland as your company’ base, including its location as a commercial bridge between Europe and the United States. The list of all types of companies which, according to the Irish Companies Registry, may be established in the State can be found below.

Limited company

In a limited company, the shares are owned by its shareholders. If the company fails (in the event of bankruptcy), the shareholder’s liability is limited to the amount, if any, remaining unpaid shares owned by each. In addition, the company is considered an independent legal entity, for this reason, only the company can be sued for its obligations and can sue to enforce its rights.

Single Member Company

Although the company has only one member, it must have at least two directors and a secretary (unless it is a LTD company). Really, all company types can be single member companies.

The financial statements and any type of report must be prepared as well. However, the sole member may dispense with the holding of General Meetings, in which such the reports should be laid.

Unlimited Company

This kind of company can be public or private and is distinguished by no limit on the liability of its members. Unlike a Limited Company, creditors can hold shareholders liable for the company’s debts that could not be settled.

Undertakings for Collective Investment in Transferable Securities (UCITS)

They are public limited companies whose objective is the collective investment in transferable securities of capital raised from the public that operates on the principle of risk-spreading. The competent authority is the Central Bank of Ireland, which must approve all registrations of UCITS that wish to carry on activities within the State.

European Economic Interest Groupings (EEIG)

The manager of a Grouping may be a natural person or a body corporate and the company must have a minimum of two members, who may be companies or natural persons too, from different Member States. An EEIG facilitates the economic activities of its members and it is a mechanism through which business within the EU can engage in cross-border commerce.

Societas Europeae (SE)

It is formed under EU Regulations and has members from different Member States. An SE can be formed by merger or as a holding or subsidiary SE or by conversion of a plc to SE.

Cross Border Merger

A cross border merger is where a company merges with another company, which must be from another EEA State. The merger can be achieved by acquisition, absorption or by formation of a new company.

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