Company Formations

Here at Seoige O'Faolain & Co we specialist in company formations. Where do you start? Firstly you'll need to decide on the following...

Your Company Name
First things first, what are you going to call your company? You can have any name you like as long as nobody else has already registered a company with the same name. To protect your name (and avoid confusion) the Companies Registration Office (CRO) won't allow you to incorporate a company with a name that they deem similar to an existing name. This protects everybody-including you!

Directors and Secretary
Every company must have at least two directors, one of which may also act as the Company Secretary. Directors are the people who are appointed to run and manage the day to day affairs of the company. They may or may not be shareholders.

At least one of the directors must be EEA Resident (the EEA being the countries of the EU plus Iceland, Liechtenstein and Norway), otherwise a bond must be supplied.

Shareholders
Shareholders are the people who own the company. They can also be the directors.

Business Location
Okay, on this one you need three addresses which can all be the same if you wish. You need to set out a Registered Address, a Place of Business and an Address of Central Administration.

Main Activity
You've got an idea and they'll want to know about it. This will be outlined in a document called the Memorandum & Articles. But don't worry over this one; you just tell us and we'll translate it into the legal jargon. The CRO will ask you to put a NACE code on your main activity. We have a list of codes of which one is bound to suit.

Debt Collection Services

The depth of our experience serving the needs of the corporate and commercial sector means we fully understand the importance of Debt Recovery in today's business environment. Over the years we have developed an efficient, cost effective approach to Debt Recovery that consistently delivers exceptional results.

 

About Us

SEOIGE O'FAOLAIN & Co is a specialist insolvency and liquidation practice. We provide pragmatic advice and solutions to directors of companies of all sizes, financial institutions, the accountancy and legal professions, individuals and sole traders throughout the Rep. of Ireland. We understand that people facing financial difficulty are under extraordinary pressure. We have expertise in handling with care very delicate issues surrounding personal bankruptcy, limited company insolvency, company law and taxation. We approach such matters with great sympathy and sensitivity.

Unfortunately it’s a fact of life that not every venture works outs as intended – and sometimes when ventures fail people are left with insurmountable personal debts through borrowings, negative equity and personal guarantees. In the current economic environment many Directors of collapsed companies are faced with the often knock on effect of corporate failure – personal insolvency. Personal insolvency / bankruptcy has unfortunately become a lot more widespread due to the substantial decline in value of nearly every asset class including property investments, stocks & shares and other investments.

SEOIGE O'FAOLAIN & Co are one of the most preeminent liquidation and personal bankruptcy practices in Ireland. We deal with every type of creditor on a day to day basis including banks, leasing companies, trade creditors and the Revenue Commissioners. We have particular experience acting as advisers to the sole trader community and owner-managed companies. We operate a partner-led approach in all our client dealings which ensures our partners are highly accessible to clients. Each client is appointed a client relationship partner to manage dealings and communicate with you directly. We approach each case with great sympathy and sensitivity. All queries are dealt with the utmost confidentiality.

We are here to help you.

Debt Collection Services (2)

The depth of our experience serving the needs of the corporate and commercial sector means we fully understand the importance of Debt Recovery in today's business environment. Over the years we have developed an efficient, cost effective approach to Debt Recovery that consistently delivers exceptional results.

 

Links

Office of the Director of Corporate Enforcement: http://www.odce.ie/
Department of Enterprise, Trade & Employment: http://www.entemp.ie/
Office of the Revenue Commissioners: http://www.revenue.ie/
The Office of the Director of Public Prosecutions: http://www.dppireland.ie/
Companies Registration Office: http://www.cro.ie/
The Institute of Chartered Accountants in Ireland (ACA): http://www.icai.ie/
Association of Chartered Certified Accountants (ACCA): http://www.ireland.accaglobal.com/
Chartered Institute of Management Accountants (CIMA): http://www.cimaglobal.com/
The Institute of Certified Public Accountants in Ireland (CPA): http://www.cpaireland.ie/
The Irish Auditing and Accounting Supervisory Authority (IAASA): http://www.iaasa.ie
Money Advice and Budgeting Service (Ireland): http://www.mabs.ie/

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