Company Limited by Guarantee

 A Company Limited by Guarantee without a Share capital is a type of limited company usually used in circumstances whereby it has been decided to give corporate protection to entities such as charities, trade associations, societies, or sports clubs. This company type is appropriate for non-profit companies or NGO (non-governmental organization).  They can also be used for property management purposes in the servicing and maintenance of residential associations.

There is no shareholders or share capital in this type of company. Instead of shareholders, the company must appoint at least one member, who guarantee’s to contribute 1 euro to the company in the event of its winding up (subject to the Constitution). As the company is considered to be a public company, audit exemption cannot be granted (i.e. the company must file audited accounts with the Companies Registration Office). Members can also be Directors, therefore a total of seven people is required to incorporate this type of company.

Charitable Status can be applied to the Revenue Commissioners on projects which are set up for charitable, scholastic or religious purposes. It should also be noted that Guarantee Companies are required under statutory legislation to file Audited Accounts every year with the Companies Registration Office.

For more information on applying for Charitable Status please click Applications for Charitable Status.

There is also a company limited by guarantee with a share capital, however these are rarely used.

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