Question 1

What is the difference between company registration and company liquidation?

Accepted Answer

Company registration is the process of legally forming a new company, while liquidation is the process of winding up an existing company and distributing its assets. Registration involves filing incorporation documents with the Companies Registration Office. Liquidation involves appointing a liquidator, realising assets, paying creditors, and ultimately dissolving the company. Both require professional advice to ensure compliance with Irish company law.

Question 2

How long does it take to register a private limited company in Ireland?

Accepted Answer

A private limited company can typically be registered within a few weeks if all documents are correctly prepared and filed. The Companies Registration Office aims to process complete applications promptly, but delays can occur if forms are incomplete or if the proposed company name requires approval. Using a professional can help avoid common mistakes that stretch the timeline.

Question 3

What are the costs involved in liquidating a company in Ireland?

Accepted Answer

Costs for liquidating a company in Ireland vary depending on the type of liquidation and the complexity of the company’s affairs. A members’ voluntary liquidation for a solvent company often has a fixed fee, while a creditors’ voluntary liquidation may be billed hourly due to additional requirements. Fees typically cover professional time, but not CRO fees, publication notices, or VAT.

Question 4

Do I need a solicitor or an accountant for company registration?

Accepted Answer

You can register a company yourself, but many people use a solicitor or accountant to ensure the paperwork is correct and compliant. A professional can draft the constitution, file with the Companies Registration Office, and advise on directors’ duties. For liquidation, a qualified insolvency practitioner is usually required. Ask which professional body they belong to.

Question 5

What is a members’ voluntary liquidation and when is it used?

Accepted Answer

A members’ voluntary liquidation is used when a company is solvent and the directors wish to close it down. The directors must make a declaration of solvency, and a liquidator is appointed to realise assets and distribute them to shareholders. This process is simpler and faster than a creditors’ voluntary liquidation because all debts can be paid in full.

Question 6

Can I change my company’s name or directors after registration?

Accepted Answer

Yes, you can change your company’s name or directors after registration by filing the appropriate forms with the Companies Registration Office. A name change requires a special resolution and may need approval if the new name is similar to an existing one. Director changes are filed using a form signed by the director and the company secretary.

Company Registration and Liquidation in Ireland