Private Limited Company
Formacompany.ie Ltd are committed to incorporating your private limited company on time and at a fixed fee, it takes less than 10 minutes to complete our easy online application.
We then prepare and email you the completed documents that will require only your signatures, and a statutory declaration.
As members of the Companies Registration Office electronic filing scheme, we electronically submit your proposed company’s documents and submit the originals to the CRO.
Registration normally takes 2-3 working days.
We can advise on all aspects of incorporating your company in Ireland.
Benefits of being a Private Limited Company
- The company is a separate and distinct legal entity and, therefore, is separate and distinct from the individuals who own and operate that company
- It does not have an objects clause because it has full unlimited capacity to carry on any legal business, subject to any restrictions in other legislation
- A limited company is owned by the shareholders who in the event of the business failing are protected by the limited liability bestowed upon them
- A limited company can only have 1 director if desired
- The maximum number of shareholders permitted is 149
- Limited liability means that the shareholders potential exposure to the debts and liabilities of the company are limited to the amount that they have agreed to contribute to the company (the issued share capital)
- If the company fails, the shareholders liability is limited to the amount of share capital contributed by them
- Personal assets of directors and shareholders cannot be used to pay off the company debts
- A limited company continues to trade irrespective of changes in directors, secretary, management and/or ownership
- A limited company is entitled to take legal actions in its own name, as opposed to the name of its owners
- A Private Company Limited by Shares is the most widely used type of company
- Enter legal contracts and own property