What is a Single Member Company formation in Ireland?

What is a Single Member Company formation in Ireland?

What is a single member company formation in Ireland? A single member company incorporation is where a company has only one shareholder owning 100% of the shares of the company. To form a single member company limited by shares, one director is required and a separate Secretary is required as officers to form the company. Both Director and Secretary along with the Shareholder must sign the Incorporation documents and a Company Secretary is appointed at this time.What is a Single Member Company formation in Ireland?

We are asked all the time how to set up a company with only one person. With this in mind, we can become a Nominee Secretary and a single person can become Director and sole shareholder and member. When we set up shares in this way we generally set up a company with 100 Issued shares valued at one euro each at the point of incorporation of the company. The characteristics of a single member company formation are as follows:

  • A Director is appointed.
  • A company Secretary is appointed.
  • One shareholder is listed (The single Member) The Director can be shareholder also.

The Companies act states that all issues relating to private companies limited by shares will also apply to single member companies. If in the future, a single member company wanted to change to a multi shareholder company limited by shares, this can be done with an amendment to the constitution of the company. All company types can be single member companies.

As part of the process of incorporation, Irish Formations will manage the complete process for you. Once an order is placed we will immediately contact you with either full incorporation papers or any queries me may have. You have an opportunity to check all documents before signing and returning them to us to start the process of your company formation in Ireland.