Which company structure should I choose to incorporate a community drama society?

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Good day

I am part of a drama troupe that are hoping to form a company and become more established. Does anyone know which type of company would be best suited for a drama society? Thanks in advance.

Answers

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Hi,

A limited by guarantee company would be the best choice for your community drama society. This is the preferred structure for anyone setting up a nonprofit venture. You won’t be distributing profits to anyone - presumable you’ll putting all generated income back into the business - so there’s no need for shares or shareholders, which you would have in a limited by shares company.

It’s really easy to set up a company limited by guarantee. You can do it online and most applications are approved in around 3 hours. To find out more about this type of company structure and how to set it up, please take a look at this guidance.

10 months ago
 

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