The Companies Act in Ireland was modified in 2014 and it entered into force in June 2015, providing new types of limited companies. The Companies Act 2014 created a new type of legal form, the designated activity company (DAC). Foreign businessmen interested in Irish company formation may set up two types of DACs in Ireland: the DAC limited by shares and the DAC limited by guarantee. Our team of company formation representatives in Irelandcan offer assistance on the main characteristics of the DAC companies and can help businessmen register the legal entity following the legal incorporation requirements.
The characteristics of the Irish DAC
The DAC in Ireland is regulated by the Part 16 of the new Companies Act. Both types of DAC legal entities have a set of similar characteristics, as follows:
Investors are invited to watch the video below, which provides details on the registration of a designated activity company in Ireland:
The procedure of company formation in Ireland for a DAC legal entity is performed following the same procedures for bothtypes of companies. However, it is important to know that the liability of the company’s shareholders is prescribed in a different manner. In the case of a DAC limited shares, the shareholders are liable in the amount of the shares they own in the company. Shareholders of a DAC limited by guarantee will be liable following the legal provisions applicable to a DAC limited by shares, but they will also be liable in the amount they have contributed to the company’s assets. Our team of company formation agents in Irelandcan provide further details on this aspect.
DAC’s trading name in Ireland
Any company operating in Ireland is required to register a trading name with the Companies Registration Office (CRO). The procedure of company registration in Ireland in the case of an Irish DAC requires to state at the end of the company’s name the words “Designated Activity Company” or “Cuideachta Ghníomhaíochta Ainmnithe”. The legal entity can be exempted from this regulation, but only if an exemption was obtained for this procedure.
Businessmen can find out further information on other characteristics of the Irish DAC from our team of consultants in company registration in Ireland. Please address to our representatives for more details.
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