|Private Company Limited by Guarantee|
This is the conventional type of company for a "not for profit" organisations such as charities, societies and clubs. The company has no share capital and has members instead of shareholders. In this case no shares are issued, and profits are not distributed to the members. The members agree to contribute a membership fee or subscription, normally have equal voting rights and elect a board of directors.
Companies limited by guarantee with a "not for profit" clause and charitable objects can be formed within 3 or 4 days. As these companies are normally registered for non-profit making activities the memorandum and articles of association state the general objects of the company and prohibit the payment of dividends to members.
A private company limited by guarantee must have at least one director and one secretary (formal qualifications are not required). A company's sole director cannot also be the company secretary. Our company can act as your company secretary. The Corporate Secretary does not have any involvement in the day to day operation of the business. Find out more about our Secretary Services here.
The process to incorporate a Private Company Limited by Guarantee is made really simple by Omega Group. You only need to choose an acceptable name and give us a few details in order for us to proceed with incorporation.