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Registering a PLC?

  • 06-03-2009 6:18pm
    #1
    DSB
    Closed Accounts Posts: 3,951 ✭✭✭


    Setting up an online retail company, and amn't really sure how to go about getting all the necessary paperwork done. Realistically it'd just be me involved, but I'd be having others buy a small amount of shares to ensure limited liability, what forms do I need to fill out, where do I get them, and what sort of information will I be expected to provide?


Comments

  • #2
    boomer_ie
    Closed Accounts Posts: 392 ✭✭boomer_ie


    DSB wrote: »
    Setting up an online retail company, and amn't really sure how to go about getting all the necessary paperwork done. Realistically it'd just be me involved, but I'd be having others buy a small amount of shares to ensure limited liability, what forms do I need to fill out, where do I get them, and what sort of information will I be expected to provide?

    One person can own the company (100% shares) however two people must be directors in the company. Have a chat with your accountant or solicitor and see if one of them would go down as a Director.


  • #3
    thecleverone
    Closed Accounts Posts: 337 ✭✭thecleverone


    Registering a PLC?

    Be very careful with your terminology. A PLC is a completely different kettle of fish to a Private Limited Company.

    As mentioned, you can have one shareholder in a company, holding a minimum of 1 share. But i'd recommend going to a professional to have it done. Either an accountant or preferably a company formation agent.


  • #4
    DSB
    Closed Accounts Posts: 3,951 ✭✭✭DSB


    Well I think the intent is to have family members buying shares.


  • #5
    NiallMH
    Closed Accounts Posts: 123 ✭✭NiallMH


    DSB wrote: »
    Well I think the intent is to have family members buying shares.

    DON'T . . Family and business should be kept different !
    -Problems will arise with divedinds!


  • #6
    NiallMH
    Closed Accounts Posts: 123 ✭✭NiallMH


    DSB wrote: »
    Well I think the intent is to have family members buying shares.

    Don't let family buy shares . . problems will come up with divedinds!


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  • #7
    swanvill
    Registered Users, Registered Users 2 Posts: 276 ✭✭swanvill


    Hi,
    You can set up a single member company (i.e. only one shareholder but s/he can have 10,100 or whatever number shares you like) but you will need two directors and one of them can act as a company secretary.
    My advice is you to be one director & company secretary make sure the other director is someone you completely trust....... i.e. they would help you bury a body at midnight type of trust :)

    You can hire an accountant /company formation agent this will cost you approx. €300(including Company Registration Office fees) or if you are good with paperwork you can do all yourself. All the details are on www.cro.ie.
    After that you need to register the business with the revenue. I would recommend maybe getting an accountant to help you regarding what rates of VAT etc and what expenses you can claim or not.

    Best of luck with your new venture & I hope you found this post helpful.


  • #8
    thecleverone
    Closed Accounts Posts: 337 ✭✭thecleverone


    After that you need to register the business with the revenue. I would recommend maybe getting an accountant to help you regarding what rates of VAT etc and what expenses you can claim or not

    The form to be used for this purpose is a TR2 form and can be downloaded from www.revenue.ie. As suggested, going to an accountant would be the best way forward for tax/vat registration.


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