Requirements for Starting a Business In Ireland- Set up a company in ireland
- If you’re wanting to form a new Limited Company in Ireland, we’ll customise your company to meet your specific needs and get your business off to a great start! However, we require the following information from you before we can proceed with the establishment of your Irish company:
1. Company Name
Your Irish company name must be distinct from all other companies registered in the country. In order to choose a name that will be accepted by the Companies Registration Office, you must fulfill specific rules (CRO).
2. Company Type
The most common form of incorporation for people starting businesses in Ireland is a Private Limited Company.
A Memorandum and Articles of Association are no longer required for a Private Limited Company (LTD) with the adoption of the Companies Act 2014. Instead, the Constitution was enacted, allowing a company to engage in any legal business it chooses. When forming an LTD company, you will still need to choose a NACE code that is appropriate for your type of business.
4. Registered Office Address
The Registered Office is your company’s formal address, and it must be in the Republic of Ireland. This address will receive the majority of official communications. The Company’s trading address may differ from its registered office. If Irish-Resident Directors so choose, their home address can be used as the company’s registered office.
Click here for more information.
5. Company Directors
Firm directors are individuals chosen by the company’s shareholders to administer the company on their behalf. At least one company director is necessary for a Private Limited Company (LTD). The following information about the nominated director is necessary to proceed with the business formation:
- Name in full
- Year of Birth
- Household Address
- Occupation in the business world
- Name(s) of any additional companies in which the individual serves as a director
6. Company Secretary
A Company Secretary is required in every Irish firm. The Company Secretary is responsible for ensuring that statutory responsibilities are performed, such as maintaining the company’s accounts and filing Annual Returns on time. One of the Directors, a distinct individual, or a Corporate
Entity might serve as the company secretary. When a corporation only has one director, it is necessary to designate a separate Company Secretary.
If you need a company secretary, We can function as your mentor or become your company secretary.
The company’s shareholders are essentially its owners. Each shareholder is given a number of shares that corresponds to their share of the company’s ownership. A shareholder must be at least 18 years old to participate. The details that we require are:
- Name in full
- Address of Ordinary Residence
- The number of shares that will be held in the shareholders’ name.
8. Authorised and Issued Share Capital
The company’s Authorised (Nominal) Share Capital is the total number of shares it can issue if necessary. The number of shares that have been allotted and paid for by the shareholders is known as the issued or paid up share capital.
Please contact us immediately if you have any questions about this article. We would be pleased to answer any of your inquiries.
Call us at 01 442 8230 or fill the form below
Capital Gains Tax
Years of Experience
Running a payroll in Ireland involves several steps to ensure compliance with Irish tax laws and regulations. In this blog post, I will provide a general overview of the process for running a payroll in Ireland, including the necessary registration,...
Understanding VAT in Ireland VAT is a consumption tax that is levied on goods and services at each stage of the supply chain. In Ireland, businesses are required to register for VAT when their taxable turnover exceeds or is likely to exceed a certain...
The Financial Backbone Accounting is often considered the financial backbone of any business, regardless of its size. For small businesses, however, the impact of sound financial management is even more pronounced. These enterprises often operate on...
What is Preliminary Tax? Preliminary tax is a prepayment of your income tax and is typically paid by individuals, sole traders, and companies. It serves as a contribution towards your expected income tax liability for the current tax year. By paying...
Choosing the right name for your new company in Ireland is an important step in the business formation process. A company name should reflect your business's identity, be easy to remember, and comply with legal and regulatory requirements. Here are some...
In the dynamic and competitive landscape of financial services, finding a company that can cater to your specific needs with expertise and unwavering commitment can be a challenging task. TAS Consulting Limited, a prominent player in the industry,...
VAT in Ireland: Registration: In Ireland, businesses that exceed or are likely to exceed an annual turnover of €37,500 (€75,000 for distance sellers) must register for VAT. Voluntary registration is also possible for businesses with lower turnover, which...