Variable Capital Company
Companies are registered under a series of Acts called the Companies Acts 1963 to 1999. The shareholders of the company enjoy limited liability. The main aim of funds set up as investment companies is the collective investment of its funds and property with the aim of spreading investment risk. A company is managed for the benefit of its shareholders. Variable capital companies can repurchase their own shares and their issued share capital must at all times be equal to the net asset value of the underlying assets.
Irish companies must have a minimum of two Irish directors.
All UCITS funds and most non-UCITS funds are marketed to the public. Therefore most companies are set up as public limited companies. An investment company set up as a public limited company is required to have a minimum share capital of EUR 38,000 - 25% of which must be paid up before commencement of business.
