If you are considering incorporating a company before Jan 01st 2021, there are a number of contributory factors that could delay the incorporation process regarding incorporating a company timelines. This post will take you through the considerations, but the bottom line is that if you want to be incorporated to operate in January, we are advising everyone to get started as soon as you possibly can. We process files and received post each morning, but third party delays in the current times are unfortunately unavoidable. Incorporating a Company Timelines can change quite a lot, and the CRO issue updates on these timelines regularly.
Currently the process of getting incorporated is taking on average 10 working days, but that number has been decreasing in recent days. Pre-Covid the standard service level agreement was 5 working days. This increased with Covid 19 restrictions. The Companies Registrations office has managed to reduce this, but its important to keep the timeline in mind. We process all documents and orders same day. More information on how we do this can be found in this blog post back in March.
The industry is watching Brexit very carefully. Whether there is a deal or no deal will affect the demands placed on Company Formations Agencies, and the Companies Registrations office. Specific demands will be placed on companies who will have a requirement on a Section 137 Bond.
CRO Systems Upgrades
The companies Registrations Office is in the latter stages in re-developing their software from the ground up. This is a mammoth task and it is going to allow agents like us become more efficient in working with them. The down side to this is that the CRO want to stop all processing of compliance documents some time in December. We have not been issued with a date yet.
The Companies Registrations Office will issue timelines at the start of December regarding getting incorporated in 2020 and when all documents would need to be with the CRO to achieve this. Once we have information on this we do a newsletter out to our database.