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Business Name Registration??

  • 16-11-2010 7:58pm
    #1
    Hannibal6.0
    Registered Users, Registered Users 2 Posts: 134 ✭✭


    I was wondering if registering a company name means that I will have to work up a set of accounts at the end of the tax year. I am currently in full time education and plan to set up a business when i finish college in September, I was wondering if I register the name now does this mean that I am considered to be out there trading or can I register the name and just hold onto the company name till im ready to start trading with out any extra costs? I know you can reserve the name for 28 days for 25 euro but that will end up costing me 250euro just to reserve it. Anyone any recommendations on what I should do in my situation?


Comments

  • #2
    freddyuk
    Registered Users, Registered Users 2 Posts: 1,113 ✭✭✭freddyuk


    If you have a company name that you really must have then you need to reserve it by paying a registration company to hold it for you until you need to incorporate your company.
    You cannot register and reserve a non legal entity name ie. a partnership as it is not a legal entity.I was advised in Ireland to set up a Ltd company right away rather than do a sole trader or partnership first as it is quite easy and cheap to set up a Ltd Company. About euro 350 i think.
    Do not leave it until the last minute as getting banking etc. set up can be a bit drawn out.


  • #3
    Zonua
    Registered Users, Registered Users 2 Posts: 143 ✭✭Zonua


    Hi OP, I'm not sure why you would want to register a business name or company before you actually want to start it up. Maybe there's a reason I haven't thought of though.*

    In your post, you mention both business name and company name. These two are two different things. A business name can be registered any time with the CRO, I believe it costs 40e offline or 20e if you do it online.

    However bear in mind that this does not give you exclusive rights to use the name.

    Can I ask why you want to register the business/company so early?

    *Hmmm actually I remembered one reason - to reserve the ".ie" domain in case someone will register it first.


  • #4
    blue4ever
    Registered Users, Registered Users 2 Posts: 1,257 ✭✭✭blue4ever


    Hannibal6.0

    Register your Business name now as it simply speeds things up.
    Your don't have to do anything with it, you can sit on it.
    It doesn't mean that you have an exclusive to use that name other people can register the same/similar.
    If you wanted the .ie domain it might help you jump the gun.
    But make the decision between a registered company and sole trader - you really should do a bit of background reading on that and the laws and requirements for a limited company can be, whilst protective, also can be onerous.


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