what do you get from the CRO

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apple

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Hi Guys

Just a couple of quick questions that someone might be able to help me with.

1. I'm gonna register a company with the CRO what do I get from them. I know I get the cert of incorporation & dont get a company seal. Do I get a comapny register book or something.

2. While We are getting the company up and running Im gonna keep on working, will I lose my PRSI tax credits with my current employer.

Thanks for your help
 
Have you spoken to an accountant? You may find that you do not need to set up a company until your business has been up and running for a while. It might be enough to register the business name and trade as a sole trader.
 
apple said:
2. While We are getting the company up and running Im gonna keep on working,
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If so, you probably should not set up a company at this stage. A limited company is rarely a necessity for a "nixer" or part-time venture.

apple said:
will I lose my PRSI tax credits with my current employer.
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No

You only get ... 2 leaflet books about your duties of a director, and company secretary...
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These books are downloadable from www.cro.ie

If you go with a couple of the bureaus such as

www.companysetup.ie
www.companyformations.ie
www.companyservice.ie
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Bureaus should NOT be relied on for advice as to whether or not to form a company. They are not independent as they make money from forming companies. They have an inbuilt disincentive against telling you that you don't need a company in the first instance.
They generally provide things like Seals, atamped Share certs, statutory registers and you get a nice big box so you feel you really own something :)
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Maintaining a statutory register is a compulsory legal obligation of every company. Tread carefully unless you know exactly what you are doing in this regard, or have access to ongoing professional advice if/when needed.
 
Yea an accountant would be a good start - depending on what you need, the problem is they generally rip you off on the setup fee, where as a bureau will only charge 300-400 (accountants normally buy from these guys anyway)

most of them will have a decent meeting with you for free with no strings attached, just to get you started on your way.

The statutory registers thing is a requirement by the Director of corporate enforement, something to be aware of, but its not really a big deal, you just need to make sure you log change in directors and change of address, who owns what shares in the company etc...

Do you need a company?

Well tell us what the story is, and we can answer whether you need one or not - save you paying through the nose for a company :).
 
zappb said:
Yea an accountant would be a good start - depending on what you need, the problem is they generally rip you off on the setup fee,
...
most of them will have a decent meeting with you for free with no strings attached, just to get you started on your way.
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Are you not contradicting yourself here?

You seem to ignore the possibility that handling and advising on company formation assignments isn't exactly an activity that accountants or others do for fun or for the good of their health, ie if you stretch your imagination, it might just be possible to conceive of a situation where they might actually expect to get paid for this work.

You also ignore the possibility that it is very common for accountants (for example, on this board) to advise clients or potential clients that they shouldn't be setting up a company in the first instance rather than telling them to go ahead regardless of the consequences. So a "rip off" fee of €200 or so for advice could save the punter a lot of unnecessary hassle and expense later on.
 
200€ is very good value - so Apple looks like you can go to Ubiquitous, and he'll sort you out for a very reasonable fee...

after that you can get the company from a bureau (or DIY it).

Best of luck!

And one more thing Grasshopper, Why do you need a company again?
 
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