What is a Company?

A company is a legal form of business organisation. It is a separate legal entity and, therefore, is separate and distinct from those who run it. The company (and not the individual shareholders) is the appropriate person to be sued in the event that debts are incurred by the company which remain unpaid, despite demand. A company registered becomes a body corporate as and from the date mentioned in its certificate of incorporation. The vast majority of companies incorporated also have limited liability and have to file annual returns and submit notice of changes in their details to the CRO.

What Types of Company are there?

There are four types of limited companies:

A private limited company limited by shares: The members’ liability, if the company is wound up, is limited to the amount, if any, unpaid on the shares they hold. The maximum number of members is 99.