How To Set Up A Business In Ireland
Setting up a company in Ireland is a very exciting fourth dimension, but can also be very stressful! If yous are looking to register a new Express Company in Ireland, Company Bureau will tailor your visitor to your exact requirements, and get your business organization setup off to the all-time possible start! However, there are 8 items of information we need from yous earlier nosotros can proceed with your Irish company setup:
- Visitor Proper name
- TYPE OF COMPANY
- CONSTITUTION
- REGISTERED OFFICE
- DIRECTORS
- COMPANY SECRETARY
- AUTHORISED & ISSUED SHARE CAPITAL
- SHAREHOLDERS
Starting a concern and happy to proceed? Delight click here to go straight to our online order facility.
Should you adopt to start your business organization as a Sole Trader / Partnership (Irish Residents only) please click Business Name Registration
1. Company Name
The proposed proper name for your Irish visitor registration must be unique and conspicuously distinguishable from all other Irish Registered Companies. The use of sure words such every bit 'bank', 'insurance', and 'grouping' crave special permission. Names thought to be offensive or imply State Sponsorship are besides refused. Non-descriptive Words such as 'services', 'solutions', 'Ireland', 'International', and 'holdings' don't carry whatever weight in terms of distinguishing the name from other companies and are therefore discounted.
For a Free Company Name Check click hither.
2. Visitor Type
A Private Limited Company is the most mutual form of Incorporation for people to first their business organization in Republic of ireland.
Click here for more information on the different types of companies available.
3. Constitution – Principle Activities
The Companies Act 2022 introduced a Constitution for Private Limited Companies (LTD) which replaced the Memorandum and Manufactures of Association. The Constitution allows LTD's to trade in any legal business organization they desire. However, your Irish company will nevertheless need to select a 'NACE' lawmaking prior to incorporation. Don't worry almost this – all nosotros need is for you to outline to usa the precise activities of your company and nosotros can do the rest.
iv. Registered Function
The Registered Office is the official accost of your company and must be located in the Republic of Ireland. Most official correspondence will exist posted to this address. The trading accost of the Company may be different from its registered role. Irish-Resident Directors may use their home address as the registered office of their company is they wish. For Non-Resident Directors, click here for more information on our Registered Office Services.
5. Directors
The Directors of a Visitor are the people who are appointed to run and manage the Company on behalf of the owners of the Company – the Shareholder(s). A Private Limited Company may take i director if desired, merely in this instance, must appoint a separate Visitor Secretary. We require the post-obit information on the proposed directors to go on with the formation of an Irish gaelic company:
- Full Name
- Nationality
- Usual Residential Accost
- Appointment of Birth
- Concern Occupation
- Names of other Companies that the individual is a managing director of
At to the lowest degree i of the proposed Directors of the company must exist Resident within the European Economic Expanse (EEA) If a company has no EEA-resident director, they may enter into a 'Section 137 Non-Resident Managing director's Bond' which can be bundled by Company Bureau. Please click here for more information. Alternatively, if the company tin can prove that there is a "existent and continuous link with 1 or more economic activities in the State" so it may be exempted from the requirement for a resident director. It should be noted that Directors take a number of legal duties and obligations imposed by the Companies Acts, other enactments and at common police force. On this basis, Directors must agree on incorporation that they understand these obligations and should, therefore, be a minimum of 18 years of age.
6. Company Secretary
An Irish Company must accept a Company Secretary who is responsible for ensuring that statutory obligations are met with, such every bit maintaining the books of the company, and ensuring Annual Returns are filed on time. The company secretary can exist one of the Directors, a carve up individual or a Corporate Entity. In the state of affairs where a company has a single director, a separate Visitor Secretary must exist appointed.Visitor Bureau can act every bit your company secretarial mentor or become your company secretarial assistant if you require. For more information please click here.
7. Authorised and Issued Share Capital
The Authorised (Nominal) Share Capital of the visitor is the corporeality of shares a company can telephone call upon if required. We recommend for near companies an Authorised Share Majuscule of €100,000 divided into 100,000 shares of one Euro each.
The Issued or paid upwardly share capital is the number of shares that have actually been allotted and paid for by the shareholders. We suggest issuing 100 shares of 1 Euro each. The 100 shares are divided between the shareholders to reverberate the ownership of the company. E.g. 50/l, 90/x etc. One person or company tin can agree all the shares. This is known every bit a single member company.
8. Shareholders
The Shareholders are the owners of the company. Equally detailed above, the number of shares issued should be divided in a manner that reflects the proportionate ownership of the company. The shareholders of the company must be a minimum of 18 years of age on incorporation. The details that we require are:
- Full proper noun
- Usual Residential Address
- Amount of shares that are proposed to be held in the shareholder'south proper noun.
When your visitor is incorporated, Visitor Bureau volition Prepare, Typhoon and Issue the Share Certificates of the Company, besides as the remainder of the corporate documentation for your company registration in Republic of ireland
Source: https://www.companyformations.ie/company-formations/starting-a-business/
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