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Incorpro's Company Secretarial Library offers clear, straightforward, jargon-free answers to the most frequently asked questions our clients have. It covers essential topics such as the Company Registration process, Compliance, and more, ensuring you have constant access to all the information you need.
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A limited company, also known as a Private Company Limited By Shares, is the most popular company type in Ireland. Close to 90% of companies registered in Ireland are incorporated as Limited companies.
The primary characteristics of a Private Company Limited By Shares are:
The popularity of limited companies is reflective of the fact that they offer flexibility and are less administratively burdensome than other company types.
While incorporating as a limited company offers a number of benefits, those considering doing so should also be aware that there are administrative, statutory and disclosure obligations that all limited companies must adhere to:
When the directors of a company are appointed, they must sign a statement accepting that they have legal duties and obligations.
"I hereby consent to act as director of the aforementioned company and I acknowledge that as director, I have legal duties and obligations imposed by the Companies Act, other statutes and at common law."
Some examples of the statutory duties of directors include to:
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