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Setting up a company

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  • 04-06-2020 4:55pm
    #1
    BlackEdelweiss
    Registered Users Posts: 1,529 ✭✭✭


    What is the best way to set up a company in Ireland? Use one of the companies that do all the work for you for €99 or so or do it yourself?


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    #2
    neil_hosey
    Registered Users Posts: 1,712 ✭✭✭neil_hosey


    Ive used the startuphub a few times. Easy.


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    #3
    BlackEdelweiss
    Registered Users Posts: 1,529 ✭✭✭BlackEdelweiss


    Thanks Neil, I was just going to edit my post to ask if anyone can recommend a company if that is the route they advise.


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    #4
    Triangle
    Registered Users Posts: 960 ✭✭✭Triangle


    BlackEdelweiss wrote: »
    Thanks Neil, I was just going to edit my post to ask if anyone can recommend a company if that is the route they advise.

    Just make sure you file returns yearly, even if you didn't trade.
    I know a couple of people caught out on this with penalties heaping up over two years.


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    #5
    BlackEdelweiss
    Registered Users Posts: 1,529 ✭✭✭BlackEdelweiss


    Triangle wrote: »
    Just make sure you file returns yearly, even if you didn't trade.
    I know a couple of people caught out on this with penalties heaping up over two years.

    I actually started another thread in the taxation forum about this.

    https://www.boards.ie/vbulletin/showthread.php?t=2058083948


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    #6
    BlackEdelweiss
    Registered Users Posts: 1,529 ✭✭✭BlackEdelweiss


    I was looking at the startuphub, seems like a simple process. Other companies offer services such as company secretary etc. Are these worth going for now? At the minute the company will not be trading, I just need to set it up to deal with service providers. Is the basic package all I need for now? Can I change this later?


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    #7
    MyTax Ireland
    Registered Users Posts: 30 ✭MyTax Ireland


    BlackEdelweiss wrote: »
    I was looking at the startuphub, seems like a simple process. Other companies offer services such as company secretary etc. Are these worth going for now? At the minute the company will not be trading, I just need to set it up to deal with service providers. Is the basic package all I need for now? Can I change this later?

    If it's a one person director company you'll need someone (or a company) to act as a secretary. If you have multiple directors, one of them or someone you trust can act as secretary.

    You probably don't need a Company Secretary if someone else can act as one.

    To an above point, your first Annual Return is 6 months from Incorporation. Best not miss this.

    Thanks,
    My-tax Ireland


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    #8
    Axwell
    Moderators, Business & Finance Moderators, Computer Games Moderators Posts: 10,461 Mod ✭✭✭✭Axwell


    BlackEdelweiss wrote: »
    What is the best way to set up a company in Ireland? Use one of the companies that do all the work for you for €99 or so or do it yourself?

    Are you likely to be needing the services of an accountant? Assuming you are then most will look after the company formation for you also so perhaps look to find a good accountant and let them look after it for you instead of paying a formations company for that one service.


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    #9
    The Soup Dragon
    Registered Users Posts: 20 ✭The Soup Dragon


    Black Edelweiss, did you form a company?

    If so who did you use or how did you decide to go about it?

    SD


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    #10
    jams100
    Registered Users Posts: 766 ✭✭✭jams100


    If a company is set up with 2 directors can one of these directors also be the company secretary or must it be an independent person?


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    #11
    Axwell
    Moderators, Business & Finance Moderators, Computer Games Moderators Posts: 10,461 Mod ✭✭✭✭Axwell


    jams100 wrote: »
    If a company is set up with 2 directors can one of these directors also be the company secretary or must it be an independent person?

    Yes, one of the directors can be the company secretary


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