Ireland – Ltd Company Incorporation
Ireland Key points
- Time – 2-3 days to incorporate your company
- Directors – one director is required for your limited company
- Director – one director must be resident in the EEA
- Shareholders – only one shareholder required
- Share Capital – the share capital requirement is only €100
- Tax – exemption from Corporation Tax for 3 years on taxable profits less than €320,000
- Support – using our 20 years experience we guide you throughout every step of the company formation process
The principal features of an Irish company are:
- Directors must be aged 18 years of age or over.
- A minimum of one director is required one of whom must be resident in the EEA.
- The company secretary can be either an individual or corporate body and does not need to be resident in Ireland.
- The company must at the time of incorporation classify the principal activity of the company using the NACE classification for its economic activities.
- Irish law states that all limited companies must have an official company seal.
- Shares must be denominated in Euros (€’s).
Being Ireland’s premier company formation specialist, no one matches our knowledge, expertise or commitment in incorporating your company on time and with a fixed fee.
We provide you with assistance throughout every step of the formation process; and our services do not stop there. We give you assistance and advice related to your company formation from the moment you choose to incorporate and for as long after incorporation as you may require.
Our full range of company secretarial services will make the initial setting up and management of your company straightforward. The services we provide permit non-residents with the opportunity to incorporate a company in Ireland.
Once you have decided on the name of your new company please go to our order form. We will check your proposed name for availability at The Companies Registration Office (CRO) and advise you of any potential conflicts with companies already on the register.
We then draft your Memorandum and Articles of Association with the principle objectives clause specifically drafted for your new company, email to you the pre-registration and legal documents that will require your signature(s).
Once signed and returned, we then as members of the Companies Registration Office electronic filing scheme, electronically file your proposed company’s documentation at the CRO. Your new company will be incorporated in 2-3 days.
We will then finalise and send you your new limited company formation pack with all documentation required for you to start trading and proceed to open a bank account.
This is the name of your business. There are restrictions, the main one being that it must be unique.
This is the official address of your business where all official documents are served. This does not have to be your trading address but it must be located in Ireland; residential addresses are permitted.
Irish companies require at least one director over the age of 18. who must provide their first and last (family) name, residential address, dates of birth, nationality, occupation and details of any other directorships. It is further required that one director is a permanent resident of the European Economic Area.
Ireland Non EEA Director Bond
If an Irish Company does not have at least one Director who is resident in the European Economic Area (EEA), a Bond must be taken out and must have a minimum validity period of two years. Non-Resident Directors Bond exempts companies registered in the Republic of Ireland from the requirement to have a Director who is resident in the EEA (European Union plus Iceland and Norway). The Bond insures the company for a sum of €25,000.
A Bond in place does not replace or act as a Director of the company, It merely exempts the requirement of at least one director being resident in the EU or EEA.
As of 31st January 2020 the UK is no longer in the European Economic Area (EEA).
We can arrange for a non-resident director bond to be deposited with the Irish government on your behalf.
Irish companies are required to have a company secretary who has the legal duty of filing all required documents and accounts. This may be an individual in which case their residential address is required, or a Corporate Body in which case the name and registered office address is required.
The company’s purpose must be outlined in its memorandum and articles of association and given the corresponding NACE code. We do this for you; we just need to know the purpose of your company.
Benefits of a Limited Liability Company
- Setting up a limited liability company offers just that: limited liability.
- Greater degree of business credibility of trading through a limited company.
- Ownership of a limited company can be spread over a greater number of people.
- Shareholders in a limited liability company are only liable to lose the value of the share capital to which they subscribe.
- The rights of shareholders are clearly defined and protected.
- Employees can acquire shares.
- A company is a legal form of a business organisation, which is classed as a separate legal entity and, therefore, is separate and distinct from those who run it.
- For sole traders and in partnerships, the individuals’ personal assets are at risk if there is a claim against the organisation.
- A company pension scheme can be secured through a limited company.
- A limited company has a greater ability to raise finance by the issue of shares and also finances under the Business Expansion Scheme.
- The company’s name is protected: incorporation protects the name from use by another Limited company.
- Limited companies have flexible borrowing powers.
- The company continues despite the death, resignation or bankruptcy of members.
- The interests and obligations of the directors are defined.
- Appointment, retirement or removal of a director is straightforward.