Throughout the lifetime of an Irish business, investors can make various changes, that are legally prescribed under the Companies Act. Some of the most common company changes that can be done in Ireland refer to the company’s trading name, changing its initial legal structure, increasing the minimum share capital or making various amendments to the company’s statutory documents.
When opening a company in Ireland, one of the first steps that have to be concluded refers to the company’s trading name. Due to various reasons, investors can decide to change the name that was initially established and registered with the local institutions; when doing so, certain steps have to be followed and our team of consultants in company registration in Ireland can assist with an in-depth presentation on all the procedures imposed in this situation.
What are the main steps in changing an Irish company name?
In order to change the company’s trading name, an investor has to obtain a written approval from the Registrar of Companies. In order to do so, it is necessary to complete a specific form – the Form G1Q. This form has to be submitted together with a copy of the company’s founding documents (the amended version), along with the payment of the fee imposed in this case. The following will apply:
- • the form can be completed on the online platform of the institution (the procedure costs EUR 50);
- • the form can also be completed on a paper copy, but in this case, the fee is of EUR 100;
- • the modification of the company’s name of an Irish business is done in accordance with the provisions of the Section 30 of the Companies Act;
- • the proposed company name can be verified for availability on the online platform of the Companies Registration Office (CRO), by using the Company Search Facility;
- • once these procedures are completed, the CRO will issue a certificate of change of name;
- • the applicant company may use the new trading name once the certificate was issued by the CRO.
The trading name of the business can also be registered as a trademark in Ireland.
Can one obtain a digital certificate in Ireland?
The procedure of Irish company formation is straightforward and most of the incorporation requirements can now be completed on the online platforms of the local institutions. When changing the company’s trading name, investors can apply online for this procedure, but they can also obtain the necessary documents in a digital format.
For example, the certificate attesting the change of the company’s name can be obtained as a digitally certified document. This means that paper certificates are no longer necessary in order to attest the validity of this change. Instead, applicants can now obtain the certificate via e-mail, in a pdf. format. The document has full legal validity.
What are the main procedures prior to applying to the Irish CRO?
Before applying with the Irish CRO to change the company’s name, the company’s representatives have to perform several internal procedures. One of the first aspects that have to be concluded in this case is to pass a special resolution, which must be done by the company’s shareholders. This step can be completed as long as at least 75% of the company’s shareholders agree on the modification of the name.
The company’s directors are then notified on the change, and they will modify the company’s statutory documents accordingly. Our team of specialists in company formation in Ireland can assist with legal advice on the manner in which the company’s statutory documents can be amended.
Prior to do so, they can verify on the CRO’s website if the new proposed company name is available and if it is, they may also reserve a company name in order to secure the respective name. These procedures can all be done prior to actually submitting the necessary documents.
Since the date in which the special resolution was passed, the company’s directors can complete the above mentioned form in a period of maximum 15 days. Once the CRO received the necessary documentation, the company’s name can be modified in 2-3 working days, a period of time which will end with the issuance of the Certificate of Change of Name.
The procedure basically ends here, since the new company name is now legally recognized, but the investors will have to take additional measures. For example, the company’s seal must be modified accordingly, and any other party with which the company has various relations must be informed on the modification.
This will include the Irish institutions, including the Revenue Commissioners, but also the company’s clients, partners, suppliers and so on. Businessmen are invited to contact our team of consultants in company registration in Ireland for any additional information concerning the modification of the name of an Irish business.