Southern Irish Companies

Southern Irish Companies: Private Limited Companies

What is the difference between a Private Company Limited by Shares (LTD Company) & a Designated Activity Company (DAC)?

The biggest difference between a LTD and a DAC Southern Irish company is a LTD company may have only one director which may be very beneficial for small or medium sized companies, whereas a DAC must appoint a minimum of two directors.

Private Company Limited by Shares (LTD Company)

The sole director of a LTD Company cannot act as the company secretary so a second person is still required. However, they will have less onerous obligations as a Company Secretary than acting as the second director.

The members’ liability, if the company is wound up, is limited to the amount, if any, unpaid on the shares they hold.

Designated Activity Company (DAC)

Before setting up a new company, it is important to understand what activities the company will be carrying out in order to determine the most appropriate company type.

In most cases it will be a LTD company, however if they are carrying out a specific activity or are required to be a DAC then that may be the appropriate company type.

The members’ liability, if the company is wound up, is limited to the amount, if any, unpaid on the shares they hold.

How We Can Help

Company Formation

First Corporate can assist with the formation of a Southern Irish Company. Please feel free to use the comparison table below to help you decide the correct type of company, or feel free to contact us for more information.

Company Secretarial Services

The Secretary may also be a company and this is something we as a Company Secretarial advisory firm can provide if the company doesn’t have a separate person to act as a Secretary.

Order Now

Use our online order form to instruct us to incorporate a company in Southern Ireland.

 

 

 

 Company Limited by Shares (“Limited”)Designated Activity Company (“DAC”)
Company name suffixMust end in the suffix 'Limited' or 'Ltd'Must end in the suffix Designated Activity Company or DAC
DirectorsMinimum of 1 directorMinimum of 2 directors
Shareholders1 – 149 Shareholders1 – 149 Shareholders
Business ActivityNo objects clause – full and unlimited capacityCapacity limited to the objects clause in the Memorandum
SecretaryCompany Secretary cannot be the sole directorSecretary may be one of the directors
AGMMay dispense with holding the AGMCannot dispense with holding the AGM
Share CapitalNo requirement for an authorised share capitalMust have an authorised share capital
Debts or securitiesCannot list debts or securitiesCan list debts & securities
Credit & InsuranceCannot be a credit institution or an insurance undertakingCan be a credit institution or an insurance undertaking