Companies Act 2014 – Deadline: 30 November 2016
The deadline for conversion of existing Private Limited Companies to Private Companies Limited by Shares (“LTD”) and Designated Activity Companies (“DAC”) in accordance with the Companies Act 2014 is 30 November 2016 (31 August 2016 by ordinary resolution for DAC).
We strongly recommend that all existing Private Limited Companies convert to a LTD or DAC in advance of that deadline. As most existing Private Limited Companies have not yet converted, there is likely to be a rush in advance of the 30 November 2016 deadline. We therefore recommend that the conversion documentation is submitted to the CRO by 31 August 2016 to ensure that the conversion is processed well in advance of the 30 November 2016 deadline.
We have set out a comparison of both company types. We understand from the Companies Registration Office (“CRO”) that the most popular conversion type to date has been to an LTD.
If you would like to discuss the most suitable type for your company, please feel free to contact us at firstname.lastname@example.org.