Formation Agent

[homer1]

Hi

Just a quick question for you how do you become a company formation agent and are there any institutes that regulate it

thanks in advance

 

[MOB]

you just set up in business and no it is not regulated.

Company formation agents often offer other services. It may be that some of these services would constitute giving legal advice, which is of course highly regulated. but in such cases, they refer to solicitors or barristers as appropriate.

I think that some of the add-on services they offer could be generically described as being 'Company Secretarial' in nature, and I think there is an institute of some sort for Company Secretaries - though I do not think there is statutory regulation of their work. I am open to correction on this.

 

[Graham_07]

http://www.icsa.org.uk/

is the body to which MOB was referring. There isn't a specific Irish branch i don't think. However that body, whilst regulating and qualifying chartered company secretaries wouldn't, I believe, be in the business of regulating company formation agents. If someone was going to set up as a company formation agent though, I would assume that the person would have appropriate experience/qualifications in the field of company law.

 

[command]

In order to be able to provide the service on a cmpetitive basis you will need to join either the CRO disk or the Ph Phrainn schemes with the CRO. This was the case a year or two ago. Essentailly your standard memo and arts are pre approved by the CRO so when you send in a company formation application it is essentially fast tracked. This is how the incumbants in the market are able to provide companies within a few days.

Submitting a paper A1 form could take a number of weeks.

I am not sure if the situation has changed with the CRO recently but I am sure similar schemes still exist. I dare say given the inprovement in their online systems that the CRO propably have an online service to formation agents.

Because of the compliance in this area you shoudl probably consider becomeing a member of the chartered secretaries. www.icsa.org