Setting up as a Limited Company in Ireland
Setting up a Volunteer group as a limited company gives protection to the members of the group. Basically, it limits the liability of members should everything not go as planned but still allows the group to keep its own unique ethos. Usually, it sets an upper limit on your liability of ?1 each. There are three main ways your group can transform itself into a company
'Do it yourself' -
The Companies Office in Dublin Castle will give you directions on what documentation needs to be submitted. The group puts the documentation together and submits it for approval. This is a very cost effective option, however it is very daunting and complicated if you have little experience in the area.
Go direct to a solicitor -
This is probable the way most groups go about the process. A solicitor will ask you for your group's aims and objectives or constitution if one exists. Theses are then incorporated into a legal document, along with all other legal clauses. The final documents are registered with the Companies Office in Dublin Castle and, once approved, your group is now a fully fledged 'Company limited by guarantee'. The cost of this option is usually around ?1000.
Buy an 'existing' company -
This is an often overlooked option. More's the pity as it is highly cost effective (about ?400), extremely quick and convenient. It entails dealing with a 'company formations' company, easily found in the Golden Pages. Basically, these companies have already registered limited companies in Dublin Castle and will sell them on to your group. They will incorporate your groups aims and objectives into the 'existing' company and change the name of that company to the name of your group. The whole process takes only a matter of a few weeks with this option as all the time-consuming work has already been done.