Limited by Guarantee Company

Company limited by guarantee without a share capital

This is a private company and the minimum number of members is 7 and the maximum is 50. It is a company which has not been established to earn profits for its members but rather to carry out a specific purpose. The members liability is only the amount they have undertaken to contribute to the assets of the company, being not less than €1 in the event that the company is wound up. They are not required to raise funds from the members and they still retain the benefits of limited liability and a separate legal entity.

This type of company is favoured by groups of people coming together for a common purpose and who wish to have the protection of limited liability. The most commonly uses for this type of company are: Charities, residential associations, property management, educational, sports clubs, trade associations, professional bodies and associations.

Charitable status can be applied for to the Revenue Commissioners on projects which are set up for charitable, scholastic or religious purposes.