Setting up a company can be also known as forming a company or incorporating a company. However, it will hold the same meaning in every form and the process to do it will remain the same as well. The formation of a company begins with the registration of the company. There are several companies that offer business solutions and assist you in registering a limited company in Ireland. You should contact them for a hassle-free process. They can assist you with the whole cycle and process.
For the registration of the company, you will need to submit a registration fee to the registration office with the following documents:
- Memorandum of Association
- Articles of association
- Form A1
A fiduciary and financial consulting company can provide you with all the required documents altogether or you can also these documents from the website of the registration office.
What is the Memorandum of Association?
The legal formation of your firm will require a Memorandum of Association. This memorandum of association lays forth the terms under which the firm will be incorporated. It must have clauses dealing with specific issues, such as the business’s name and objectives, and it should also mention if the company is a limited liability company.
The memorandum of Association needs to be prepared as per, or close to, the applicable table given in the first schedule of Companies Act 1963 as circumstances permit. The memorandum of association must be printed, separated into paragraphs, and arranged in a sequence.
Before you establish a company a decide the appropriate table for it, you must first know which type is most appropriate for your company. The following are the different tables applicable for different types of firms:
- A private firm with a share capital will come under Table B.
- A company without share capital and limited by guarantee will fall under Table C.
- A company with share capital and limited guarantee will fall under Table D.
- An unlimited company will fall under Table E.
- A public limited company will fall under the Second Schedule of Companies (Amendment) Act 1983.
What are the Articles of Association?
This is the second document required for the legal formation of your company. Articles of Association lays forth the guidelines by which the firm intends to conduct its business.
It must be registered by a company with share capital and limited guarantee or an unlimited company. It must be printed, separated into paragraphs, and arranged in a sequence.
What is Form A1?
This form consists of all the necessary details related to the firm such as the name of the company, registered office, details of the directors and the secretary, their consent to the roles, the subscribers, and their share details. It includes a statutory statement that the criteria as per the Companies Acts have been met and the information about the activities that the company will engage in.
Setting up a limited company in Ireland is a simple task however a beginner might face difficulties in the process. But the help of financial consulting companies can always be taken for ideal business solutions.
