Non-filing Structures

The principal technique used by the Companies Acts to safeguard investors and persons who deal with limited companies is the compulsory disclosure of information.

In contrast to limited companies, persons who engage with unlimited companies do not need the same level of protection and consequently the Companies Acts treats unlimited companies differently. Whilst obliged, like limited companies to file an annual return with the Registrar of Companies, the returns for unlimited companies may not have to be accompanied with the annual accounts.

This means that unlimited companies do not have to disclose any financial information whatsoever about their trading or investment activities. This can prove very attractive to companies in certain circumstances.

Why convert

• The company will not have to file accounts at the Companies Registration Office.
• The shareholders will continue to have limited liability through an offshore “blocker structure”.
• The structure is easy to maintain once in place.

Benefits

• The financial information of the Company is not made public therefore financial and commercial information is no longer available to third parties including your competitors, landlords, employees and clients.
• The structure is easily incorporated into existing tax planning strategies to provide significant additional tax benefits to shareholders.
• The company is able to manage information made available through the media and other channels.

What to consider

• A company cannon revert to Limited once it has changed to Unlimited, however, it is possible to reintroduce a Limited company through a reorganisation.
• The structure is implemented by way of a company/group reorganisation which involves company secretarial, taxation and legal steps.
• Ongoing maintenance of additional group companies.

Recent Examples

• Carton Group
• Shanahan Engineering
• Doyle Hotel Group
• Mountbrook Homes
• Enfer Technology
• Roadbridge

Contact Conor Sweeney on 059 9183888 to discuss how we can assit you implement non-filing structures for your clients.