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Setting up an LTD company

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  • 30-10-2017 11:46am
    #1
    amer13
    Registered Users Posts: 17 ✭


    HI All,

    I am starting my company in Ireland. It's import/Export/Trade company. And i prefer to set it up as LTD company as i have another income in Ireland.

    Can you please refer me to the right direction in terms of paperwork and procedure also if you have any advice that will be very appreciated.

    Thank you all in advance :)
    Tagged:


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    #2
    The_Chap
    Registered Users Posts: 493 ✭✭The_Chap


    Easiest way is to purchase a shelf company, about €200 and all is setup for you, just need to change directors and name and you’re all set


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    #3
    amer13
    Registered Users Posts: 17 ✭amer13


    The_Chap wrote: »
    Easiest way is to purchase a shelf company, about €200 and all is setup for you, just need to change directors and name and you’re all set

    Can you give me more information on how to proceed with that ?


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    #4
    zig
    Registered Users Posts: 1,206 ✭✭✭zig


    Having a limited company isn’t as straight forward as being a sole trader or partnership.

    I would strongly recommend you make sure you have good reasons to do it because otherwise you will have higher costs and more minding to do, not to mention more legal requirements.Ltd companies are a bit of a pain to manage. You year end accounts may cost you about 1.5k , plus you pay cooperation tax, plus overall you’ll be more reliant on an accountant imo.

    The best approach is to get an accountant to set it up. It’ll cost maybe €250. It should be pretty straight forward with there being just 1 director.


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    #5
    The_Chap
    Registered Users Posts: 493 ✭✭The_Chap


    amer13 wrote: »
    Can you give me more information on how to proceed with that ?

    I can pm you the place we used if you want, no affiliation at all


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    #6
    amer13
    Registered Users Posts: 17 ✭amer13


    The_Chap wrote: »
    I can pm you the place we used if you want, no affiliation at all

    yes please :)


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    #7
    exaisle
    Registered Users Posts: 2,675 ✭✭✭exaisle


    amer13 wrote: »
    Can you give me more information on how to proceed with that ?

    Zig's advice, above, is excellent. You can familiarise yourself with the responsibilities of a company director and/or secretary on the Companies Office website....

    http://www.cro.ie

    Aside from that, engage the services of an accountant. Advice received here should be taken with a large quantity of salt!


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    #8
    The_Chap
    Registered Users Posts: 493 ✭✭The_Chap


    exaisle wrote: »
    Zig's advice, above, is excellent. You can familiarise yourself with the responsibilities of a company director and/or secretary on the Companies Office website....

    http://www.cro.ie

    Aside from that, engage the services of an accountant. Advice received here should be taken with a large quantity of salt!

    There are equally professionals who post here too, we just don’t normally shout as loud


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    #9
    Axwell
    Moderators, Computer Games Moderators Posts: 10,462 Mod ✭✭✭✭Axwell


    Go talk to an accountant - Starting out any advice on the best way to keep your paper work together, what you are entitles to claim back and what you cant and what type of business formation is best for you is invaluable..


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    #10
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    The_Chap wrote: »
    Easiest way is to purchase a shelf company, about €200 and all is setup for you, just need to change directors and name and you’re all set

    I thought shelf companies had gone by the wayside with years now.

    The current equivalent is a Company registration Agent/Business that will setup a new company for you.

    As others have suggested, make sure you've looked into the obligations that come part and parcel with a Limited company.


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    #11
    exaisle
    Registered Users Posts: 2,675 ✭✭✭exaisle


    The_Chap wrote: »
    There are equally professionals who post here too, we just don’t normally shout as loud

    Indeed there are...and I am in no way casting aspersions on anybody. But there are amateurs here too and it may be difficult for somebody seeking advice to tell the difference.
    Free advice is generally worth just about as much as you pay for it.
    OP will get better and more salient advice during 30 minutes with an accountant than he will from numerous paragraph length posts here.
    It's all very well giving a few general pointers...I do it myself, but this should be qualified by the caveat that proper professional advice be sought.


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    #12
    amer13
    Registered Users Posts: 17 ✭amer13


    Thank you guys for all the information. I think i will proceed with a company that can form the company for me.


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    #13
    Axwell
    Moderators, Computer Games Moderators Posts: 10,462 Mod ✭✭✭✭Axwell


    At this stage starting out an accountant is a better option for you - they can set up the company for you and also advise you on financial matters and questions you have in that area around export/import. Company formations companies are just charging you to file the application which any accountant will help you with anyways on top of the other info you will get from them.


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