If you need to form a new company you now have more options.
New private companies can decide to be formed either as:
(1) a private company limited by shares – LTD, and the company name will end in LTD; or
(2) A designated activity company, which is a private company limited by shares, – a DAC, and the company name will end with DAC.
Which option should I choose?
This will depend on the type of business you want to set up – for example a credit institution cannot be a LTD.
Do you want to set up the company for a particular purpose and for no other purpose – then a DAC may be suitable. It is most likely that you will elect to form a LTD, a private company limited by shares due to its favourable and flexible benefits.
To discuss your options please contact us.