Hello, writing to you in the hope of some advice. We are involved in a Yoga centre and looking to get set up as an incorporated company. We run on a non-profit basis. The teachers do not get paid, they teach voluntarily in order to share the experience. Any surplus is channeled back into the activities of the school. We were also thinking to apply for charitable status at some point.
We are wondering what is the best type of company to set up as. Is a non profit organisation bound to set up/incorporate as a public company or can it be private company?
Reading from the CRO literature, it seems that private companies can avail from audit exemption but public companies can not. We are not in a position to be paying 1,500 euro for a annual tax audit so we thought to become a private company (not sure about whether to have shaes or not - does this matter?) and hopefully avail of this exemption.
Also, to become a charity is it necessary to be a certain type of company? (ie. public or private)
Are there any other avenues for a non profit organisation to act other than by setting up/getting incorporated as a company?
Any help/advice would be very appreciated. Thank you sincerely,