how to set up a company?

dwayneburke

How do i set up a company? i.e. paper company for now, just need a separate entity for now and hopefull in the future progress into something more advanced

Is there any good websites or people to talk to?

Victor

Ask yourself, does it need to be a company?

As a start, take a look at www.cro.ie

Specky

Sounds like you could just start as a sole trader which requires you to do pretty much nothing immediately...what do you mean by needing "a seperate entity" though?

If you mean that you just want to set up a bank account with a different trading name then there's nothing to stop you doing that. You personally will still be responsible for any debts your "entity" incurs.

You can also register for VAT as a sole trader if you want to but it sounds like that wouldn't be woith it yet.

One thing you will need to be a little careful with is your income tax. If this "entity" makes money you will have to pay income tax on it. That will effect your taxation situation with your employer (if you're in a job) and it will effect your unemployed status if you are not.

You should check your contract of employment if you're in a job to make sure you are not prevented from operating a business under its terms (it can happen, especially where a conflict of interests may arise). You can opt to keep this a secret from your employer but they will find out if your taxation situation changes.

G

If you just want to register a business name (without having to actually setup the company with vat etc) like 'Acme Spuds' go to the cro. It'll cost you about 25 notes.

Sposs

Once you have the company Name registered is it easy enough to set-up a bank account in that name or are there other requirements involved?

Our man in Havana

Originally posted by Sposs
Once you have the company Name registered is it easy enough to set-up a bank account in that name or are there other requirements involved?

Yes but there are some paperwork probs.

You need a resolution from the board of directors to sanction the opening of a bank account in a company name. You need to take all the paperwork to the bank and then they will need the names and addresses of the directors plus id's etc for each one.

It is not a quick process and can take a few weeks dependant on how awkward the bank wants to be.

Pataman

Golden Pages - A for accountants. Talk to one, it may save you a lot in the long run. If you invest your own money you may qualify for BES. They should save you more than they cost you.