Ireland CLG vs DAC

CLG is a special type in Irish company law that allows companies to operate on a non-profit basis. This type of company is commonly used for charitable organizations, social groups, or other non-profit organizations. Their shareholders are referred to as members rather than shareholders, and each member guarantees to contribute at least 1 euro if the company is wound up while they are a member or within one year after they cease to be one. This type of company does not need to appoint a statutory representative. At least one director must be resident in the EEA, unless the company holds a section 137 bond or a section 140 certificate; the company secretary has no residence requirement. They also do not require capital verification, as they have no shareholders or share capital. CLG is a flexible legal entity that can provide a suitable operating structure for non-profit organizations.