Company Strategy

I am starting a new online retail business and I have decided I want to set up as a limited company. How do I go about this and how long will it take?

8th May 2013

Congratulations on your new business! Company registration is a simple enough process that should not take too much time. Although having a limited company can confer plenty of advantages it also brings with it more administration and compliance issues so I would encourage you to make sure you familiarise yourself with your responsibilities at the outset.

The first step in registering your company will be to pick a name that will be acceptable to the Company Registration Office (CRO) standards. Generally speaking, a name will not be accepted if it is too similar to another registered company, if it is offensive or suggests state sponsorship.

You can use the company search facility on the CRO website to check if a company already has the same or a similar name, and you can also use the CORE websiteto reserve a company name for 28 days for a fee of 25.

The next step for company registration is to register with the Companies Registration Office (CRO). To do this, you will need to send in form A1 as well as the memorandum and articles of association of your company. Memorandum and articles of association must include certain provisions, such as the name and objects of the company whether the company has limited liability, division of shares etc.

Once you submit this along with payment, the registration of the company is complete and the CRO will send out a Certificate of Incorporation with a CRO number and you or your agent can then advise the Revenue that you have set up a company.

Generally speaking your application will be dealt with in about 2-3 weeks. Using an Accountant can speed up the process and it can also ensure you avoid potentially costly mistakes later down the road. TaxAssist Accountants can assist you with all matters relating to company registration, contact us today.

Disclaimer: Advice shared in this blog is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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Call us today to make an appointment at your local office

1890 98 76 09

Or submit an enquiry