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RICHARD COOKE & CO, Solicitors
Wexford Road, Arklow, Co Wicklow, Ireland

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We are involved in all aspects of business related activities, such as purchasing and selling commercial premises, retail, industrial and licensed premises, Company formation, and Capital Taxation issues which effect such transactions.

Advantages of being a Limited Company
  1. Limits the liability of shareholders to the amount unpaid on the shares, i.e. if any debts or legal cases are taken against the Company, the personals assets, i.e. house and bank accounts of the shareholders are not liable for these debts unless they have been specifically charged to secure them.
  2. The company can raise finance by means of floating charge, i.e. it charges the Company's assets, but the Company can still trade and buy and sell it's assets and this charge does not attach to specific assets unless the Company goes in to examinership or receivership or liquidation.
  3. Perpetual succession, Company never dies and the Company may be transferred or sold by the transferring the Companies shares.
Disadvantages of being a Limited Company:
  1. Must keep Company's office and register.
  2. Must use Company seal for signing documents.
  3. Must file annual Returns in Companies Office.
  4. Must hold annual General Meetings.
  5. Should hold Directors meetings regularly.
  6. There must be an annual audit.
  7. Headed notepaper must be obtained and the Company Name, Directors Name and the Company's Registration number put on the headed paper.
  8. The word Limited or Teoranta must be used in all transactions to show that the Company's liability is limited.
  9. It can only operate within the powers of the Company, as given by the Memorandum and Articles of Association and must conform to the Rules regulating Companies
Factors to be considered:
  1. Name of Company.
  2. Address of Company's office.
  3. Shareholders.
  4. Names and addresses of Directors, other Directorships held.
  5. Principle objects of the Company.
  6. Powers of the Company.
  7. Bank.
  8. Auditor/accountant
  9. Share capital.
  10. Issued share capital.
  11. Un-issued share capital.
  12. Date of commencement in business.
  13. Assets and liabilities of Company.
  14. Floating charges.
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