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.
3. Constitution
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.
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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
- Nationality
- 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.
7. Shareholders
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.
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