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Setting up a company?

  • 30-11-2006 6:30pm
    #1
    smarten31
    Closed Accounts Posts: 74 ✭✭


    Hi

    I am very interested in setting up a company after meeting with some execs in thailand last week.. Basically I will be importing hand craft materials from Thailand and wanting to sell here in Ireland. This would include items such as tables , paintings , crafts etc

    Can anyone advise or tell me wh I need to contact to set up my own company which would allow me to do this? I have no idea where to start so any help you can give would be very much appreciated.. What other factors should I consider before setting up?

    Mods please move this to the correct forum if this is not correct

    Many Thanks


Comments

  • #2
    Millionaire
    Closed Accounts Posts: 2,248 ✭✭✭Millionaire


    depending on what you want to do, and if this is a new venture... perhaps you can start out as a sole trader... which is less costly and you have lessor obligations.

    If you set up a limited company, you have more obligations, and its more expensive, and usually you have to get an pay for an audit of end of year accounts (some small exceptions apply) .

    Best thing to do is contact an Accountant who will advise you, and if needed do the process for you.

    I let my accountant take care of all the limited co stuff etc...

    Also you will have to pay customs duties on them imports, so check into that too.


  • #3
    Flat
    Closed Accounts Posts: 70 ✭✭Flat


    your first stop is www.cro.ie

    like millionaire says, you dont necessarily need to set up a 'company' to start of particularly if your turnover is less then 25k for tax reasons

    If you are getting involved in shipping goods from Thailand, it would probably be the best thing to limit your personal liability by creating a limited company. This means in the event anything goes wrong you will limit your liability to creditors to the assets owned by the company and therefore cant lose a house/car etc

    To set up a company you need to get the A1 form of the cro.ie website and fill that out. You will need one other person as a director to form a company, wife, dog, pet hamster will do.

    In your case, you will probably set up a single person limited company.

    You will need to get Memorandum and Articles of Association to complete the appication form (along with the signature of a lawyer or notary).

    There is a law stationary office on Bolton Street that can supply generic Memorandum and Articles of Association documents.

    This can all be done on the cheap i.e. dont hire an accountant and get a mate lawyer to sign and put you pet hamster down as a director or you can hire an accountant/lawyer to take care of the whole thing

    also worth checking out, you can purchase 'of the shelf' companies starting from about 380 euro... you will need to look around a bit with google but there are loads of them


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