Register Company without Immediate Bank Acc

justindublin

Hey Guys,

So for the last 4 months I’ve saved every cent I earned, read about 6 books, gone through every piece of banking literature I could find, spoken to account friends and business friends and I’m finally ready to get the ball rolling on setting up a limited company.

Now, so far all my hardware and service suppliers have only provided me with rough quotes base on an order to me personally, not a business. I know this price can come down a fair amount but they won’t entertain haggling or development requests useless it’s coming from a business which they believe will follow through with orders.

Naturally since the cost of this equipment will effect projections, I want to sort hard written quotes and maybe even agreements with suppliers before I plough money into this.

So here’s my question, is it possible for me to register with the CRO and get my limited company registered without immediately setting up a bank account? This would allow me to sort arrangements with suppliers and providers, develop the final product and then if the company is still viable (which I believe it will be) I can then setup the bank account, finish any registration items and then begin making orders and payments.

If not, I’ll arrange to pay any costs with the suppliers personally and then strike off or whichever.

Cheers guys,

JD

dbran

Yes

But you will still have the costs of maintaining the company in the meantime even if dormant. ie annual returns, accounts etc

Why not just wait a little until you are all set to go before incorporation of the company?

Kind Regards


dbran

Zonua

dbran is right.

Another option that might work for you would be to simply register the business name with the CRO. You could set up the ltd company whenever you are ready?

CompanyBureau

It sounds like you have decided to go limited from your post which i assume is because this gives you more credence with the suppliers. If you do proceed with limited just ensure you make your 6 month annual return on time. If the company is dormant it's really all you need to do in year 1.

hinault

You don't need a bank account in order to setup a limited company.

However if you wish to open a bank account in the name of a limited company, you need to have the limited company created (incorporated) before you can approach the bank to open an account.


Also if you do decide to create a limited company, the six month CRO return is important (as pointed out by a previous poster).

John368

Justindublin

I think most people pay over the odds when starting off and then get better and better deals. Perhaps you need to dip your foot in the water and not wait until you are getting the same terms as the mega big firms.

John