HOW TO SET UP LIMITED COMPANY

Written By Barry Healy

Limited company

If you set up your business as a limited company, you and your business are seen as separate entities. In general, this means that if the company gets into debt, the creditors only have a claim on the assets of the company (not your personal assets).

To set up a limited company, you must register with the Companies Registration Office (CRO). Your company must then return reports and accounts to the CRO each year. Register your business name and file your company returns online using the CRO’s CORE (Companies Online Registration Environment).

Different types of companies

Under the Companies Act 2014, private companies limited by shares can be registered as either:

  • An LTD (private company limited by shares)

  • A DAC (Designated Activity Company)

 

Barry Healy
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