COMPANIES ACT 1963 - SECT 209 Liability of contributory.

209.—(1) The liability of a contributory shall create a debt accruing due from him at the time when his liability commenced, but payable at the times when calls are made for enforcing the liability.

(2) An action to recover a debt created by this section shall not be brought after the expiration of 12 years from the date on which the cause of action accrued.

Irish Company Order Irish Company Namecheck
Ireland Key Points
  • Only 2 to 3 days to incorporate.
  • Directors can be of any EU nationality.
  • Only 1 shareholder required.
  • 100% overseas shareholders allowed.
  • Equal treatment for domestic and foreign shareholders.
  • No obligation requiring Irish participation in the management of your company.
  • Share Capital requirement is only €100.
  • Exemption for 3 years from Corporation Tax if your taxable profits are less than €320,000.
  • Low Corporation Tax of 12.5%.
  • We are members of the Irish Companies Registration Office electronic filing scheme.
  • We provide you with full expert assistance throughout every step of the company formation process.