Private Company Limited By Shares (LTD)
A private company limited by shares is a company where its shareholders liability is limited to the number of shares that they own, i.e. Its Shareholders are limited to its Creditors to the amount of shares they own in the company. A Private Company Limited By Shares cannot be traded on the stock exchange. Private Companies limited by shares are required to have the suffix “Limited” or “Ltd” after their name. This type of company must still make an annual return to the Companies Registration office, regardless to whether it has traded or not.
- A private limited company consists of generally one to four members (Shareholders). A Private Limited Company can have one shareholder, and this is known as a single member company.
- It can have one Director.
- If a LTD company has only one director it must still retain a separate secretary.
- LTD companies can pass majority written resolutions.
- The LTD company type is eligible for audit exemption.
- This company type will also have either “Limited” or “Teoranta” at the end of its name.
- This company type is limited by shares. It cannot be limited by guarantee.
- It can dispense with need to hold an Annual General Meeting and this company type does not have objects stated in its constitution.
- It can have up to 149 members. It is not permitted to list securities, whether shares or debts. This company type can participate in a domestic Merger/Division under Part 9 of the Companies Act 2014 (and is a required party for such a procedure to be utilised).
To start the process of incorporation for this company type click HERE