Benefits of a Private Limited Company
The main benefit of a limited company in Ireland is the shareholders of the company have a limited or capped liability for the debts of the business.
Directors or shareholders personal assets are not at risk in the event of a winding-up or receivership.
Limited companies trading in Ireland qualify for corporation tax at 12.5%.
Operating as a limited company often gives suppliers and customers a greater sense of confidence in a business. Larger organisations normally prefer to deal with limited companies.
The formation of a limited company is a simple and low cost method to protect a company name.
A limited company is an entity in its own right. If it becomes insolvent and is wound up, only the assets of the company are used to clear its debts. The officers of the company have no personal liability and the shareholders are liable only to the extent of any unpaid shares held which is rare.
By contrast if you trade as an individual, the creditors can claim on all your property, (other than the family home), to satisfy the debts, and if this is insufficient you may be declared bankrupt.
Continuity of Business
The death or resignation of any officers of the company does not affect the structure of the company, which may continue to trade as before.
Protection of your Irish Company Name
Incorporation legally protects the company name against anyone else forming a similarly named limited company either in sound or spelling.
Private Limited Company
We are committed to incorporating your private limited company on time and at a fixed fee. We have an easy to complete online application.
For further information about incorporating your company in Ireland please contact us.