Limited companies can be formed with both Authorised Share Capital, and Issued Share Capital. Authorised Share Capital is the total number of shares in the company multiplied by the nominal value of each share. Issued Share Capital is the number of shares multiplied by the nominal value of each share, but only in respect of all shares actually issued.
A Company limited by Guarantee without share capital can have a minimum number of 7 members, and a maximum of 50. generally, this type of company is set up for Non Profit making organisations for a specific purpose. These types of companies include, Charities, Resident Associations, Educational Entities, Sports Clubs and Professional Bodies. The members liability in this case is only limited to the amount they have contributed to the assets of the company.
Companies who are limited by guarantee do not have share capital & do not have to raise funds from their members. This type of company still has the benefits of limited liability, and a separate legal entity.
The appropriate forms will be created & forwarded to you by Irish Formations as part of your purchase. To make this change click Buy Now below.