Frequently Asked Questions

Refer to our FAQ below or contact us for further information

General FAQ

Frequent questions & answers to assist your understanding of the company registration process.
If you do not find your answer here please contact us now.
1Is Tax Registration Required?
    The most frequently required taxes to be registered for when setting up are;
  • Value added tax (VAT) turnover of
    €37,000 for services
    €75,000 for sales
  • Tax on Profits (Income tax for sole trader, Corporation Tax for LTD Company)
  • PAYE/ PRSI for your own salary and any employees
  • Other taxes may apply dependent on company activity
2Are there restrictions to Company Names?
  • Please submit your proposed company name to us and we can correspond with the CRO and get back to you.
3 What do I need to set up my LTD company?
  • At least 1 director
  • 1 secretary (may also be director)
  • At least 1 shareholder (may also be a director)
  • A registered office (all official company correspondence will be sent here)
4Responsibilities of Company Directors/ Secretary?
5What is share capital?
  • Number of shares authorised to be issued to those investing in the company
  • Can be increased
  • Usual limit of €1,000,000 consisting of 1,000,000 ordinary shares of €1 each.
  • The amount of share capital issued initially is genrally 100 shares at €1 each (paid to company by cash usually, can be offset against Formation fees)
  • Generally more shares = more control
6How long does the process take?
  • Document preparation generally takes us 1-2 working days
  • We then meet you in our office appointments can be made Mon-Fri
  • Upon submitting signed documents to CRO Ltd company cert takes in general up to 5 working days
  • Business name registration cert usually takes up to 10 working days
  • We can then apply for tax of which most take 2-3 working days and VAT up to 3 weeks

Ltd Company Vs Business Name Registration

Frequent questions & answers to assist your registration selection.
If you do not find you answer here please contact us now.
1What is a LTD Company
  • A legal body (can trade, sue, be sued)
  • Owned by shareholders
  • Ran by directors
  • Must be incorporated to begin
  • Must be dissolved to 'close'
2What is a Sole Trader
  • Personal scale business
  • Yourself + Business/trading name e.g., Joe Blogs T/A Blogs Construction
3LTD Company Advantages
  • Limited liability i.e., responsibility is shared across members
  • Tax Advantages
  • Credibility
  • Company name is protected and cannot legally be used by anyone else
4 LTD Company Disadvantages
  • Short version of accounts must be submitted annually (available to public
  • May involve audit which incurs expense
5 Sole Trader Advantages
  • Straightforward
  • Lower accountancy fees
  • No annual Accounts to be filed
6Sole Trader Disadvantages
  • Liability/ responsibility on yourself alone
  • Tax liabilities may be higher
  • May lack credibility
  • Business name is not protected for your sole use

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