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Setting up a Limited company-including Cert. of Incorporation + Memo & Arts of Assoc

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  • 16-09-2019 5:51pm
    #1
    justagirl
    Registered Users Posts: 565 ✭✭✭


    What is the best/most cost-efficient/quickest way of setting up a Limited company and obtaining Certificate of Incorporation and Memorandum of Arts & Association? Many thanks!


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    #2
    Axwell
    Moderators, Business & Finance Moderators, Computer Games Moderators Posts: 10,462 Mod ✭✭✭✭Axwell


    Speak to an accountant.


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    #3
    RUDOLF289
    Registered Users Posts: 794 ✭✭✭RUDOLF289


    justagirl wrote: »
    What is the best/most cost-efficient/quickest way of setting up a Limited company and obtaining Certificate of Incorporation and Memorandum of Arts & Association? Many thanks!

    I found the startuphub quite handy. Paid € 115 plus VAT. Started the process last Thursday, managed to hand deliver the docs FRI lunchtime and was registered this morning. www.thestartuphub.ie. Some of that fee is payable to the CRO, I thought it was good value.


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    #4
    justagirl
    Registered Users Posts: 565 ✭✭✭justagirl


    RUDOLF289 wrote: »
    I found the startuphub quite handy. Paid € 115 plus VAT. Started the process last Thursday, managed to hand deliver the docs FRI lunchtime and was registered this morning. www.thestartuphub.ie. Some of that fee is payable to the CRO, I thought it was good value.

    Thanks so much RUDOLF289 - from the bit of research I have done so far that sounds like pretty good value and takes the pain out of the name checking :)


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    #5
    vintagecosmos
    Registered Users Posts: 851 ✭✭✭vintagecosmos


    You should check if that price includes the legally required share register and company seal. If not you would have to buy these. I think McGrath's sell them. Quick Google will find out. Don't forget your B1 return due in 6 months.


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    #6
    Soulsun
    Registered Users Posts: 547 ✭✭✭Soulsun


    You can buy an off the shelf company today and go through the process of a name change.
    As previous poster suggested speak to an accountant.
    Note there is a fair bit of red tape involved once you become an director of a company. A partnership or sole trader could be an alternative.


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    #7
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    As you soon will be a company director you should familiarise yourself with your legal responsibilities


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    #8
    RUDOLF289
    Registered Users Posts: 794 ✭✭✭RUDOLF289


    Soulsun wrote: »
    You can buy an off the shelf company today and go through the process of a name change.
    As previous poster suggested speak to an accountant.
    Note there is a fair bit of red tape involved once you become an director of a company. A partnership or sole trader could be an alternative.

    I just went through a name change and I would not recommend it. The amount of problems it created with the bank for instance was UNBELIEVABLE. Despite the fact that the company was dormant, we had to summersault backwards through burning hoops to get a bank account opened. I would recommend to start from scratch. It is straight forward and there is no previous history to account for.

    Cheers,
    Rudolf289


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    #9
    vintagecosmos
    Registered Users Posts: 851 ✭✭✭vintagecosmos


    Bought a company off the shelf 18 months ago and didnt have that experience at all. Was simple and straighforward. Accountant sorted it all.

    Personally, I set up another company myself, but ended up getting an accountant involved in the end as I was getting bogged down and worrying about all the different things. Found my time was better spent on my business instead of me trying to handle all the accounting, bookkeeping, compliance etc.

    Buddy of mine was similar and it turned out he overpaid VAT so just got a nice refund. Another had been doing the bookkeeping himself but the accountant ended up having to re do it all as it was done wrong.

    You can DIY company formation, bookkeeping and your submissions to CRO, but not worth the headache in my opinion.


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    #10
    RUDOLF289
    Registered Users Posts: 794 ✭✭✭RUDOLF289


    vintagecosmos wrote: »
    Bought a company off the shelf 18 months ago and didnt have that experience at all. Was simple and straighforward. Accountant sorted it all.

    Personally, I set up another company myself, but ended up getting an accountant involved in the end as I was getting bogged down and worrying about all the different things. Found my time was better spent on my business instead of me trying to handle all the accounting, bookkeeping, compliance etc.

    Buddy of mine was similar and it turned out he overpaid VAT so just got a nice refund. Another had been doing the bookkeeping himself but the accountant ended up having to re do it all as it was done wrong.

    You can DIY company formation, bookkeeping and your submissions to CRO, but not worth the headache in my opinion.

    You're definitely right when it comes to accounting, book keeping, compliance etc. However, paying €300 to €400 to your accountant (plus VAT) or € 115.00 plus VAT just to get the company registered in the CRO is a more cost effective option.

    Once you have the company, you can then look at using your accountant to help set up a proper administration so he can look after the CRO submissions, Annual returns and year end, definitely.


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    #11
    vintagecosmos
    Registered Users Posts: 851 ✭✭✭vintagecosmos


    RUDOLF289 wrote: »
    You're definitely right when it comes to accounting, book keeping, compliance etc. However, paying €300 to €400 to your accountant (plus VAT) or € 115.00 plus VAT just to get the company registered in the CRO is a more cost effective option.

    Once you have the company, you can then look at using your accountant to help set up a proper administration so he can look after the CRO submissions, Annual returns and year end, definitely.

    Yes those are mad prices. I wouldn't pay that. I paid 249 + vat which I thought was ok including the seal and they submitted everything for me etc.


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