Ireland DAC

Scope of operation, but the company's business scope can also be changed by resolution of the shareholders' meeting.

DAC is the abbreviation of Designated Activity Company, which is a legal entity belonging to Ireland. Its ownership is consolidated, meaning that all shareholders jointly own the company. The company is limited liability, which means that the shareholders' liability is limited to the amount of their investment, and they will not bear the risk of personal property. DAC does not participate in the market publicly, which means that its shares will not be traded on the public market. The company can have a maximum of 149 shareholders, but at least two directors are required. DAC does not need to designate a legal representative. At least one director must be resident in the EEA, unless the company holds a section 137 bond or a section 140 certificate. However, the company still needs to have a company secretary. The minimum registered capital is 1 euro and no verification of capital is required. However, the business scope of the company may be limited at the time of registration, and if it needs to be changed, it must be achieved through resolution of the shareholders' meeting.