More than 100 suspect companies are registered at south Dublin home

Calahonda52

https://www.independent.ie/business/irish/more-than-100-suspect-companies-are-registered-at-south-dublin-home-40529054.html

...The details uncovered appear to highlight major weaknesses in Ireland’s regime for setting up companies that leave it open to abuse and exploitation by potential fraudsters, including a lack of checks or verification. The Companies Registration Office (CRO) insists its registration system relies on the “good faith” of filers....

B.A._Baracus

Bit of a strange one.
We all know these are dodgy companies being set up but you think the Chinese lad would have been a bit more coy and not register most of them to the one address!

Apart from the owner finding out you would think having 66 businesses in one address only would set off red flags for cro. Then upon learning more there is nearly 40 businesses on the same street but same eircode

Burkie1203

B.A._Baracus wrote: »

Bit of a strange one.
We all know these are dodgy companies being set up but you think the Chinese lad would have been a bit more coy and not register most of them to the one address!

Apart from the owner finding out you would think having 66 businesses in one address only would set off red flags for cro. Then upon learning more there is nearly 40 businesses on the same street but same eircode

Cro is a filing repository. Has zero powers. Also, presenters who file on people's behalf often allow their address be used by companies for a fee.

dam099

B.A._Baracus wrote: »

Apart from the owner finding out you would think having 66 businesses in one address only would set off red flags for cro. Then upon learning more there is nearly 40 businesses on the same street but same eircode

Unless they have a a way to systematically distinguish residential from business addresses its not at all unusual to have many companies registered at the same address e.g. at a law firm providing company secretarial services or the HQ of a large group company with many subsidiaries.

biko

The details uncovered appear to highlight major weaknesses in Ireland’s regime for setting up companies that leave it open to abuse and exploitation by potential fraudsters, including a lack of checks or verification. The Companies Registration Office (CRO) insists its registration system relies on the “good faith” of filers.

So everything worked well until people decided to start taking advantage of our gullible system.

Donald Trump

That's a great bunch of companies at the one address

punisher5112

One would think they could figure out there is an issue after say 5 firms at one address to weed these out....

I hope the guy has sent them on their way ...

Burkie1203

punisher5112 wrote: »

One would think they could figure out there is an issue after say 5 firms at one address to weed these out....

I hope the guy has sent them on their way ...

There is formation agents who earn a living from allowing their address to be used, so it's no different really.

elperello

They are renting in the owners home so probably licensees rather than tenants.

Best get rid asap and let the authorities do their job re. the companies.

Burkie1203

elperello wrote: »

They are renting in the owners home so probably licensees rather than tenants.

Best get rid asap and let the authorities do their job re. the companies.

The authorities can do nothing. No law has been broken

L1011

The CRO system is basically the same as the company registration system anywhere else, or stricter than some in terms of requiring info to be made public.

Its not in any way especially lax. Nobody sane trusts a newly registered company just because its registered.

elperello

Burkie1203 wrote: »

The authorities can do nothing. No law has been broken

The homeowner has the option of removing the problem from his premises, he should take it.

Smee_Again

Happens regularly enough in my experience.

When working in Croydon we had a number of addresses blacklisted from opening business bank accounts.

Personal accounts had an automated AML and address check but with business accounts it was manual.

Burkie1203

elperello wrote: »

The homeowner has the option of removing the problem from his premises, he should take it.

He can remove the tenants but cannot change the company registered office address, only the company officers (director/secretary) can do that.

elperello

Burkie1203 wrote: »

He can remove the tenants but cannot change the company registered office address, only the company officers (director/secretary) can do that.

That's their problem, at least he is no longer worrying about their activities.

Burkie1203

elperello wrote: »

That's their problem, at least he is no longer worrying about their activities.

I would say their activities involve applying for start up grants for each company.

elperello

Burkie1203 wrote: »

I would say their activities involve applying for start up grants for each company.

Could they get away with that?

Either way if I was the house owner I'd want rid.