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When you register a company , you may come across a number of different terms, including limited by guarantee. A company limited by guarantee (LBG) is an alternative type of company structure used primarily by non-profit organisations. A company that is limited by guarantee does not usually have shares or shareholders but instead has members who act as guarantors.
This package is ideal for anyone setting up a non-profit company, such as membership organisations, clubs, and workers’ co-operative or sports associations.
No. This package is not suitable for setting up a charity. To set up a charitable organisation, you will need charity articles, which are available with our limited by guarantee with charity articles package .
The main difference between a guarantor and shareholder is that a shareholder would take profits from the company. A guarantor, under normal circumstances, will not take profits, and instead, any profit is re-invested into the company.
A limited by guarantee company provides limited financial liability to the company owners (guarantors). This means their personal finances are legally protected if the company encounters financial difficulties or gets sued, making it a popular and secure option for non-profit organisations.
Register your LBG now £34 VATAre you a non-profit looking to set up a limited by guarantee company? Let Mint Formations handle the process for you and receive a whole host of extras, including a free consultation with a senior accountant and lifetime customer support.
Register your LBG now £34 VATCall now: 0207 112 8684
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