Register a Company

When it comes to starting company in a country like Ireland, the process is fast. Instead of having to wait for several days, the time duration for organizing the entire start-up does not span more than three to five days. The first step of corporate formation begs the question, how to register a company and this is where the several rules and regulations come into the picture. 

Prior to considering the other issues, it is crucially important for a business owner to obtain comprehensive information on registration. Rules and regulations that apply depend on specific situations.  Only by knowing all the angles it is possible to progress through the next steps without any hassle. 

The following aims to educate individuals on the different issues surrounding Register a company in Ireland. Read on.

Legal Structures

 

Before one sets out to register a company, it is imperative to find out the different structures that can be incorporated. In Ireland, it is allowed to form business as a limited company, partnership or as a sole trader.

Choosing a structure depends on various factors such as the nature of business, the people you will conduct business with as well as an individual’s tolerance to risk. It is strongly recommended to seek a company offering registration services as they can best address one’s needs. Company Formations can prove to be a useful option in this regard. 

Unemployed People 

 A great convenience for unemployed individuals planning company formation is that they may be eligible for BTWEA or STEA which are Back to Work Enterprise Allowance and Short-Term Enterprise Allowance respectively. Under these schemes, the government offers incentives and grants to aid individuals in different areas of company setup such as equipment purchase, business plans, market research, etc.

Exclusive Company Name

 

When considering all the other aspects, name of a company cannot be left ignored. The Irish law establishes for each corporate entity to have a unique company name. Availability of a company name has to be checked with CRO which is Ireland’s official Company Registration Office. In addition, CRO allows reservation of a company name for a minimal fee.

Registered Office

 

Having a registered office is one of the principal requirements of setting up a business in Ireland. In fact, at the time of registration, one is required to provide address of the registered office. This address has to be supplied for record-keeping. Also, it serves as a point of communication as all the types of notices, legal or otherwise, are sent to this address.

Tax

 

Whether a business will be taxed or not depends on if it has been incorporated as a company. If it is a company, it will be liable for corporation tax. Otherwise, a business that is not incorporated is treated as sole trader and tax is paid in accordance with self-assessment system. New start-up may get a relief on corporation tax initially for a period of three years. 

Provided all the documents are supplied, company registration Ireland does not take more than a week.