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  • Property-a-holics

    Limited by Guarantee or Unlimited Company?

    There are many discussions regarding incorporation and the pros and cons, but I can't find any discussions regarding the type of company.

    I will be buying a small portfolio of unencumbered property and do not want to own these assets directly as I get older. I will take a modest income but there is little tax liability, if any. The company formation suits my requirements.

    I'm aware of three main options -  Company Limited by Shares, Company Limited by Guarantee and Unlimited Company.

    Has anyone considered the pros and cons of these options? Does anyone have an investment company which is not Limited by Shares?

    I can't see any advantage to Limited by Guarantee although I will have no assets, not even shares. I can see there may be an advantage to Unlimited as there is no need to submit accounts, saving accounting fees (as there will be no debt the loss of limited liability seems less important).

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    Limited by Guarantee is generally for things such as Political Parties or your local Cricket Club.

    I.e. membership organisations "owned" by their "members".

    I can't see any logical reason to use these for business.

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