10 tips to follow when forming a company with an agent.
Registering a company is complicated and you should be knowledgeable about this process or it can get expensive! Here are our essential tips to get the best value.
1. Ensure you get a quote which includes all third party fees including any procedures which you may need to execute yourself. For example, not all company formation agencies look after the legal procedures as part of their fees, and postal charges may apply.
2. Ensure your agent researches your company name to minimise the possibility of it getting rejected by the CRO.
3. Quiz the agent about your Memorandum and Articles of Association or constitution under the new companies act. These are your companies constitution, and contain an “Objects” clause in some cases. These form part of the activities of what your company will do.
4. Ensure the agent provides you with Minutes of your first meeting as part of the incorporation of the company.
5. Get advice from your agent about Authorised and Issued share capital. If this is not set up properly from the outset it could cost you further re-structuring fees at a later time. We set up all companies so there is scope for future changes.
6. Ensure you are provided with a document outlining the company officers, which includes any officers which are temporary as part of the company formation.
8. Beware of free company formations and inexpensive formations, they always come with terms and conditions. Ask for these.
9. Consider carefully what your company formation pack includes. Ask about Tax Registration, Annual Return, Company Seals and Registers and importantly share certificates.
10. Ensure you get post formation support so you can get answers about your company formation pack once you receive it.