business-startup.ie

The Minister for Justice, Equality and Law Reform, Mr. Dermot Ahern, T.D., has announced that he has introduced new Court Rules to extend the current remit of the Small Claims procedure to include certain business claims. The new rules will facilitate claims from a business against another business in respect of goods or services not exceeding €2,000.

So you’ve made the decision to form a limited liability company!  How do you go about doing that and what exactly is it going to entail?

 Firstly, please bear in mind that the decision to form a company should not be taken lightly. While the company will be a separate legal entity and it’s shareholders have limited liability, it still requires that at least two directors be appointed as well as a company secretary. The responsibilities of a company director are quite onerous and you should be fully aware of what they are. Failure to comply fully with filing regulations may result in financial penalties, disqualification from acting as a director or management of a company and strike-off of the company from the register of companies. This is something you do not want to happen as re-instatement could be quite a time consuming and costly affair which you want to avoid at all costs.

 If you are going to act as a director or company secretary then the one site which you are going to have to bookmark in your favourites list is that of the Companies Registration Office or CRO  www.cro.ie . You will be spending a lot of time visiting this site in future years! 

At last count the CRO had published about 25 Information Leaflets on everything from Company Incorporation to  The Company Secretary to Business Name Registration to Filing an Annual Return.  I would very much recommend printing out these leaflets and creating a file where you can browse through at your leisure any area which is going to be of relevance to your company and future filing requirements.