Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Setting Up a Ltd Company

  • 21-12-2009 9:47pm
    #1
    Sally1980
    Closed Accounts Posts: 11 ✭


    Dear All,

    I'm debating setting up as a sole trader but now im thinking of a Ltd company instead. What is the cheapest and easiest way to go about setting up as a Ltd Company.

    Thanks in Advance


Comments

  • #2
    JoeTurner
    Registered Users, Registered Users 2 Posts: 201 ✭✭JoeTurner


    There are plenty of company formation agents which will do this relatively cheap for you.

    I've used www.formit.ie in the past, can recommend them. I'm sure others on here might know of even cheaper options...


  • #3
    mickbyrne
    Closed Accounts Posts: 164 ✭✭mickbyrne


    If you are unsure which to go with you are better beginning with a sole trader. There are fewer compliance issues etc and if things don't work out its easier to close a sole trader. You can always transfer to a ltd co. further down the line.

    Michael
    snip


  • #4
    johnc2212
    Closed Accounts Posts: 27 ✭johnc2212


    you can register directly with the CRO yourself for 100. You can download the forms from the site fill them out and return with money and your artciles and memorandum of association.


  • #5
    Moreard
    Closed Accounts Posts: 18 ✭Moreard


    johnc2212 wrote: »
    you can register directly with the CRO yourself for 100. You can download the forms from the site fill them out and return with money and your artciles and memorandum of association.

    John's right, it is not rocket science. The company option has many advantages over the sole trader (limited liability being the big one) but comes with more regulation. I was in the same position and tested the water as a sole trader before moving to a private limited company. It was noisy at first but soon settled down. I registered it myself using the DIY kit from startupwizard.ie which was easy enough and cheap. Good luck with it!


  • #6
    DanGlee
    Registered Users, Registered Users 2 Posts: 385 ✭✭DanGlee


    mickbyrne wrote: »
    If you are unsure which to go with you are better beginning with a sole trader. There are fewer compliance issues etc and if things don't work out its easier to close a sole trader. You can always transfer to a ltd co. further down the line.

    Michael
    www.perspective.ie


    What would the compliance issues be? I'm in the process of trying to start my own company but going straight for Ltd as its easier on the pocket because the company is liable for any debts n stuff, as opposed to a sole trader where its all on your back!

    With a limited company, even if you own it / director of it, you still technically only work for the company!

    Just my amateur 2 cent! feel free to correct me!


  • Advertisement
  • #7
    gaffney99
    Closed Accounts Posts: 2 ✭gaffney99


    Hi DanGlee

    I might be a bit late coming to this one but I'd say what Mick is referring to are the responsibilities which Directors/Company Secretary have in relation to the way in which the company is run, the maintenance of a company register, holding of board meetings as well as the notifications which have to be sent to the CRO when there are certain alterations in the structure of the company.

    On the other hand a sole trader cannot take advantage of the corporation tax of 12.5% (currently 0% for the first three years if you are a start up with profits under €320k p.a.), the seed capital scheme or limited liability

    Snip: please don't link to your website in posts, put it in your sig if you wish to do so.


Advertisement