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Registration- Single Member Company Limited by Shares

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  • 13-03-2013 5:48pm
    #1
    andymx11
    Registered Users Posts: 586 ✭✭✭


    Hi all,

    I am in the process of getting my documents together in order to register my company as a "Single Member Company Limited by Shares". I just have a few questions regarding this and would appreciate any help.

    I understand I must have at least two directors and a sectary, and the sectary can be one of the directors as far as I’m aware, however can you confirm I (the proposed owner of the company) cannot be a director and I must include two separate bodies as directors?

    Also in the memorandum of association would I have to state the directors have shares in the business or can I state 100% of the shares belong to me?

    Finally, what are the major legal differences between say a private limited company and a single member company? The reason I ask is I was in two minds whether to set company up as a single member or a private limited company.

    Apologies if some of the questions are a bit daft, I have got bogged down in so much legal jargon than I'm not sure what is best for me.

    Thanks in advance

    Andrew


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    #2
    dbran
    Registered Users Posts: 2,094 ✭✭✭dbran


    Hi

    You can be a director of the company. The company just needs to have two directors and a secretary who can also act as a director. The directors are a seperate issue to who owns the company which is the shareholder.

    The memo does not have to state that the directors must have shares int he company. All the shares can belong to you.

    A single member company IS a private limited company. It is just that there is only one owner of the share capital.

    Hope this helps

    dbran


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