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Starting as a sole trader then switching to LTD under the same name?

  • 07-02-2015 12:56am
    #1
    Heinlein
    Registered Users, Registered Users 2 Posts: 46 ✭


    I'd like to start a business as a Sole Trader under a certain business name. At one point others might join me and we form a Limited company. Would it be possible to "transfer" the business name to that Ltd.?

    Second question, while acting as a Sole Trader, can I open a bank account for the business separate from my personal accounts?

    Any insights on this would be much appreciated!


Comments

  • #2
    jimmii
    Registered Users, Registered Users 2 Posts: 14,810 ✭✭✭✭jimmii


    Heinlein wrote: »
    I'd like to start a business as a Sole Trader under a certain business name. At one point others might join me and we form a Limited company. Would it be possible to "transfer" the business name to that Ltd.?

    Second question, while acting as a Sole Trader, can I open a bank account for the business separate from my personal accounts?

    Any insights on this would be much appreciated!

    Unless there are specific reasons to change you may be better off sticking as a sole trader or becoming a partnership. There is no problem sticking with the same name as a business name as a sole trader is different from a company name as an Ltd. There are a lot of threads on this bits worth having a look through.

    It is no problem having a different account as a sole trader and its definitely advisable.


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