There are three main types of companies. They are:
- A private company limited by shares (members’ liability is limited to the unpaid share capital except where any personal guarantees have been given);
- A private company limited by guarantee (members’ liability limited to the amount undertaken to be contributed by members); and
- A private unlimited company (unlimited liability of members).
By far and away, the most popular company is the private company limited by shares. Though straightforward, its formation is more complicated than forming a partnership or LLP.
One interesting feature of a private limited as opposed to a PLC is that there is no minimum threshold of either the share capital requirement or the par value of those shares.
For assistance with the formation of a new company, please refer to Corporate Services. This also describes our domiciliation services in more details.