We have listed below answers to the more frequent questions that we are asked regarding the formation of limited companies. If you do not find the answer to your question below, or you would like a more detailed answer, please feel free to contact us.
What is a Registered Office?
A Registered Office is the official address of your company, to which Companies Registration Office (The Registrar of Companies) letters and reminders will be sent. The registered office can be situated anywhere in the Republic of Ireland. The Registered Office must always be an effective address for delivering documents to the company, and therefore Post Office Boxes are not allowed.
What is the minimum number of officers your company requires?
Every company must have formally appointed company officers at all times.
A company must have at least one director
EU Resident Director
At least one director must be resident in the European Union, with one exception.
The requirement to have at least one resident director from a member State does not apply to any company which for the time being holds a bond, in the prescribed form, in force to the value of €25,000 and which provides that in the event of a failure by the company to pay the whole or part of -
- a fine imposed on the company in respect of an offence under the Companies Act 2014 committed by it, being an offence which is prosecutable by the Registrar of Companies
- a fine imposed on the company in respect of an offence under section 1078 of the Taxes Consolidation Act 1997
- a penalty which it has been held liable to pay under section 1071 or 1073 of the Taxes Consolidation Act 1997
there shall become payable under the bond a sum of money for the purpose of same being applied in discharge of the whole or part of the company's liability in respect of any such fine or penalty. The bond must have a minimum period of validity of two years, commencing no earlier than the occurrence of the event giving rise to the requirement for the bond. The surety under the bond must be a bank, building society, insurance company or credit institution.
Can anyone be a Company Director?
In general terms, yes, but there are some rules. You can't be a company director if: you are an undischarged bankrupt or disqualified by a court from holding a directorship, unless given leave to act in respect of a particular company or companies;
The minimum age limit in the Companies Act for a director to appointed in Ireland is 18. He or she must be able to consent to their own appointment.
Do I need to be a Limited Liability Company?
The reasons for incorporating a limited liability company are varied, for example, it could involve ownership of a property, obtaining investment funds, taxation or contractual relationships. Many businesses function satisfactorily as sole traders or partnerships however their personal assets are at risk in the event of a failure.
The key point to recognise is that a company is a separate entity.
This means that it is a legal person in its own right. It is separate from those who own or run it, and has 'limited liability'.
What does Limited Liability mean?
Limited liability gives the owners of the company (its shareholders/members) protection should the company fail.
This means that if a company is put into liquidation, the people who own the company will only be required to pay what they have already paid or agreed to pay towards settling its debts.
How to set up a Limited Liability Company
Simply let us check that your chosen name is available, and then incorporate the company for you on-line today. On-Line Order Form
What responsibilities will I have towards The Registrar of Companies?
Every company director has a personal responsibility to ensure that statutory documents are delivered to the Registrar of Companies as and when required by the Act. In particular:
- Annual Accounts.
- Annual Return.
- Appointment of a new director or secretary.
- Resignation of a director or secretary.
- changes in an officer's name or address.
- Notice of change of Registered Office.
Why does The Registrar of Companies need this information?
In exchange for the benefits of trading with limited liability, companies must deliver certain information about themselves to the registrar. He must then make this information available for inspection by the public so that they can make informed decisions about companies that they may wish to invest in or do business with.
Help & Advice
Please contact us with any questions that you may have. We will be pleased to speak with you and will do our best to assist you. If you are ready to register your UK company please use our secure order form