What is a Limited Company?
A Limited Company (LTD) is sometimes called ‘A Private Company Limited by Shares’. It is the most common type of structure in Ireland. A Limited Company has limited liability and shares capital. It can have a single Director and it can claim eligibility for audit exemption.
How to set up a Limited Company in Ireland
Choose a name
This sounds simple, but is usually a time-consuming task. You’ll want to find a name that isn’t already taken of course, where the domain names are available for a website, that is catchy, memorable and relevant. It can be a meaningless combination real words, or it can be something of relevance or importance to you. Whatever you decide, you will want to make sure that it can be pronounced and works well as a website address.
There are a number of online tools available that can help you generate ideas, such as the free name generator tools from Namelix and Squadhelp.
You can use the CRO Company Name Check to see if a name is available.
Form your limited company
You will need at least one Director, one Shareholder and a Company Secretary. You will also need to think about a registered office address and a business correspondence address. There are many companies that offer virtual office addresses, but it is worth checking with your accountant how much they charge for registered address services, as they can be a cost-effective solution. The added advantage is that any official mail from Revenue would then be sent directly to your registered address at your accountants.
If you would like to avoid the hassle of forming the company, we can take care of this for you with our company formation service.
Appoint a firm of accountants
BKRM Nexus are a firm of professional Dublin Accountants. We provide a full range of accountancy and advisory services to individuals, sole traders and companies. We are based in Blackrock, Dublin.
Our services include:
- Year End Accounts (and Abridged Company Accounts if needed)
- Income Tax Return
- Corporation Tax Filing
- VAT Returns
- Payroll Administration
- Company secretarial services
- Advice and guidance
Register for taxes
We can advise you on what taxes you will need to register for and we can take care of registrations on your behalf.
Our team would be happy to discuss your business and plans with you. Please feel free to get in touch with us to arrange an initial phone call or meeting.