ADS advices

Key Characteristics:

1. Designated Activity: A Designated Activity Company (DAC) is a company that must strictly engage in the activities specified in its Constitution. This distinguishes it from other types of companies, such as LTD, where the scope of activities can be more flexible. A DAC is obligated to perform only the activities listed in its governing documents and cannot operate outside those parameters.

Key Characteristics:

1. Limited Liability: In a Private Company Limited by Shares (LTD), shareholders are only liable for the amount they have invested in the company’s shares. This means that personal assets of the shareholders are protected, and they cannot lose more than their investment, even if the company faces financial difficulties.

Key Characteristics:

1. Multiple Owners: A partnership in Ireland is a business structure where two or more individuals jointly manage the business and share profits. They also share responsibility for the management and obligations of the business.

Key Characteristics:

1. Single Owner: A Sole Trader in Ireland is a business structure where one person owns and manages the business. The sole trader receives all profits but is also responsible for all costs, debts, and liabilities.