What are the benefits of starting-up a company in North of Ireland? Whether you are selling goods or services in Northern Ireland, you should take the time to consider the best business model for your new venture. While you can trade as a sole operator, there are some clear advantages involved in starting a business.
There are usually two options open to people who are thinking about registering a limited company in Northern Ireland: a private company and a limited liability partnership. Which one you opt for will depend on your specific circumstances, but there are some clear benefits associated with both types of company.
A limited company in Northern Ireland will allow you to claim a wider range of business expenses against tax, including accountancy fees, travel and essential computer hardware. You may also be able to take advantage of the flat rate VAT scheme operated by HMRC - which has the potential to save you thousands in VAT over the course of a year.
However, perhaps the biggest benefit associated with registering a limited company in North of Ireland or setting-up a limited liability partnership in Belfast is the fact that your personal assets are protected - it is the company that becomes liable for its own debts. Trading as a private company will also give your venture an added credibility with clients.
Whether you decide to incorporate a limited company in Northern Ireland on your own or opt for a limited liability partnership with partners, the incorporation process protects your company's name from plagiarism. No one else will be able to register a Northern Ireland company with the same name, so you can protect your brand and your company's income. The first step to protecting your company name is to register your business name with North of Ireland Companies House, and that is something that Coddan Formations Agency can help you with.
Our own company registration in Belfast agent have been starting companies on behalf of our clients for many years now. We have a thorough understanding of the laws that govern limited companies and limited liability partnerships in NI, so we can get your North of Irish company off to the best possible start.
We will arrange the collation and submission of the required paperwork on your behalf, and we will deliver the certificate of incorporation, meeting minutes and the memorandum and articles of association as soon as your new business is officially registered.