Bizstartup.ie - Start Up Kit

The very first thing you need to know is can you use the name you’ve chosen for your new company? Because there are many companies already registered, it would be very easy to choose a name, which may already be in use.

Also, there are certain words, which may not be used in company names either without special permission or not at all. Ultimately, the Registrar of Companies is the final judge in matters of what is and is not acceptable as a company name. You can check the current availability of your company name by calling ICC Formations on 1800 677 677.

Always think of three alternative names for your new business, rather than just one and then be disappointed if it’s not available. Also, a company name should make it easy to understand what your business does, for example, Classic Furniture Limited.

Company directors

A company’s directors are those tasked with managing its day-to-day affairs. They manage the business on behalf of the company’s owners. Many small Irish companies are owned and managed by the same people.

Every company must have a minimum of two company directors, one of whom is required to be an Irish resident. There are, however, exceptions to this rule. A professional adviser can help you here.

A company’s directors don’t have to be shareholders and vice-versa. However, in many cases they are.

Company secretary

Every Irish company is required to have a company secretary who is responsible for making sure that the company complies fully with its legal obligations. The company’s secretary and directors are collectively known as the company’s officers. The company secretary may be one of the directors who will act in both capacities.

Always make sure that the person who acts as company secretary is fully aware of the importance of this role, the legal obligations associated with it and the potential implications of failing to comply. If in any doubt, you should discuss this with your professional adviser.