Limitied Company Set-up

busibee

Hi there,
There seem to be a lot of company formation businesses out there at the moment with varying fees. Can anyone recommend a good company at a reasonable price?
Thanks..

Voltex

the CRO website is pretty clear in how to form limited companies.

Mozart1986

Hi All,

I'm also wondering how to set up a private limited company and draw up a contract with my business partner. I've been told that it costs between €250 and €450 to go through one of the business registration companies. I have a couple of weeks before we move into the office and this is something I'd like to do myself to keep costs down while I have the time.

It isn't clear on the CRO website how exactly you go about it, can anyone help? Is it realistic to think you can do it yourself?

NumbrCrunchr

Hi there

It is possible to do it yourself but it will still cost €100 for CRO fees. You will need a set of memorandum and articles and fill out the A1 form.

You can get it done for as cheap as €170 online or some accounting firms do it for free if you sign up for their pricing plans.

Hope this helps
NumberCruncher

unklerosco

http://getregistered.ie/

I used the above... Great service, took about 4/5 days to get everything done and I got 3 months free call answering service... http://getregistered.ie/Specials.aspx

Worked out great for me as I needed to get a call answering service, saved me a good few quid the last few months...

Mozart1986

Hi again,

I am seriously considering doing this myself and I'd like to hear from people that actually did and either had problems later on or not.

First of all, the cheapest company I could find €175 (http://www.registeracompany.ie/) does not say whether that includes VAT or not. I looked at their Terms and Conditions and it says they are not solicitors or legal experts and by using their service I would be verifying that I know this. Bewilderingly, their business is registered in New Zealand. So if someone without legal qualifications in New Zealand register a business here then they must be all the same and it must be just a good cash-cow for the legal industry, taking adbantage of other peoples' fears.

Secondly, looking at a different company (http://www.companyformations.ie) who are slightly more expensive, they actually tell you exactly what you need to provide for them to do it, so essentially they just have to insert your details into a set template, because you don't need to tell them anything much about your business to complete the process. So all I need is the template.

Thirdly, this is the bit I am confused by:

Article 1a of the Memorandum of Association must state the primary objectives of the company in 40 words or less. Your irish company must also select a ‘NACE’ code prior to incorporation. Don’t worry about this - all we need is for you to outline to us the precise activities of your company and we can do the rest. One of our qualified professionals will draft the Memorandum & Articles of Association specifically for your company.

- http://www.companyformations.ie/company-formations/your-first-company-ireland/#section8

Whats a 'NACE' code, and how do I get one? Also, I have read other templates and they have gone over the "40 words or less", allbeit only slightly. Is this just a particular quirk of this company, trying to keep it simple for themselves?

ALL of the other details requested are very simple, BUT, what I want to know is, if I want to change the Memo & Arts of Ass. later, can I, with the help of a solicitor once I can afford one? I understand that you can't do this retrospectively, obviously, but from that date, i.e. before I take on debt or investment, can I change them without much hassle if they have a problem?

Thanks in advance:)

Kersh

That 1st crowd you mention, you pay them €75. You fill in their form online, they send you articles etc by email, you print them off, fill them in and send to the CRO with €100. What they dont mention is that you must get part of the form filled in in the presence of a commisioner of Oaths, approx €40. You must also go buy a seal, €50approx, so its not that much cheaper than using a company formations businees who will supply all this , like these - https://www.companysetup.ie/companyformation/ordernow.htm for €252 + Vat.

The NACE code and that is chosen from a dropdown box during the online filling in. As is a section to describe your company activity.

Hope this helps.

NumbrCrunchr

Memorandum and articles - you should be able to download or buy a generic set online. You need to insert your company name and principal activity.
(M&A can be changed anytime by a special resolution at a company general meeting, no need for solicitor input although this depends on changes required)
Fill in the details on the A1 form and google 'nace codes' to select yours based on the principal activity. You also need to understand what authorised and issued share capital you need but usually defaulting to €1m authorised and €100 issued is a good start.

No matter how you set up the company you will need to get your signature witnessed by someone like a peace commissioner but this is free of charge.
M&A + A1 form + fee = limited company.

You could call the registration section of the CRO to discuss before you send in.

Some firms / companies fleece you for company and tax registration but there is value out there for people who don't want to go the DIY route.

Best of luck
NumberCruncher