Company Formation And Registration Services In Ireland

Company Formation In Ireland

The republic of Ireland is a nation located in the northwestern part of Europe (island) or the North Atlantic ocean, it is bordered to the east by the North channel, the Irish sea and St. George’s channel. It is the second largest Ireland of the British Isles and the third largest in Europe. The population of the Republic of Ireland is about 6.6 million people, its largest city and capital is Dublin. The official language is English and Irish. The landscape of Ireland is represented by lowlands in the north and central part of the country, mountains in the south-west with the Irish Kerry Mountains situated there. Hence, the nickname ‘The Emerald Isle’ due to its lush vegetation and rolling hills. Ireland is notable for its unstable weather: there are frequent rains, winds and fogs. This is due to the moderate oceanic climate of the country.

The Companies Registration Office is responsible for the registration and incorporation of companies in the Republic of Ireland.

ADVANTAGES OF STARTING A BUSINESS IN IRELAND

• Economy, one of the largest and fastest growing economy in the world;
• A member of the European Union;
• Taxation, one of the most attractive taxation system in Europe;
• The Federal government supporting the growth of investment and entrepreneurship;
• Ease of doing Business; its considered one of the most attractive places for international companies as it serves as a gateway to the European market
• Well-developed system of communication, including the Internet;
• Stable political environment;
• State of the art technological devices.

STARTING A COMPANY IN IRELAND: TAXES

Corporate income tax: for trading companies - 12.5%
Non-trading companies - 25%. 
VAT is at 23%.
Incoming dividends are not taxed. 
Personal income tax is 20%.

It is important to note that there is a 25% tax credit on qualifying R&D expenses, summing up to a total effective tax deduction of 37.5%. In addition, under the Knowledge Development Box, a reduced corporate tax rate of 6.27% applies to certain profits arising from assets derived from R&D initiatives. Certain start-ups may benefit from a tax relief for three years, if the total amount of corporate tax payable does not exceed EUR 40,000 in each year.

REQUIREMENTS FOR REGISTRATION OF COMPANY

• Minimum number of directors is one. The director must be a resident. Legal entities cannot be directors. One director must be resident in EEA. 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. The Bond insures the company for a sum of €25,000.
• Minimum number of shareholders is one.
• There are no requirements for the minimum initial capital of the company. Information about the beneficial owner is not available to the public.
• Presence of a legal address in Ireland is mandatory.
• The company must have a secretary. The secretary may be a non-resident of Ireland.
• The director can also be the company’s secretary. The functions of the Secretary include keeping minutes of meetings and register containing information about:

1. Directors and secretaries;
2. Shareholders;
3. Incomes and expenses.

• The number of shares limit the liability of company’s participants.
• The name should include the word ‘Teoranta (Teo)’ or Limited (Ltd), which indicates the company's type. Including the following words will require a special permit, they are "standard", "bank", "insurance", "society", "group", "holdings", "international" and so on.
• The minimum issued capital is not fixed.
• The amount of minimum paid-up capital is 1% of the amount of issued.
• Shares should not be placed on the stock exchange.
• Issue of preference and common shares is possible.

DOCUMENTS REQUIRED TO REGISTER A COMPANY

The following are the document required for setting up a business in Ireland: 

• Certificate of incorporation 
• Memorandum and Articles of Association 
• Minutes of the Meeting of Directors 
• Share Certificates 
• Page with Apostille.

PROCESS OF SETTING UP A COMPANY IN IRELAND

The registration process begins with a free consultation and expert assessment from our lawyers, ensuring it complies with the requirements of a new company registration. After which, our specialists collect, prepare the necessary documents and submit the application for company registration. At the end of the registration procedure, the certificate of Incorporation may be delivered to you via courier service or an email addressed by the founders of the company. Company registration/incorporation gives operational and transactional rights in the republic of Ireland but not in Northern Ireland.

REGISTER A BUSINESS IN IRELAND: TYPES OF COMPANIES

The following are the business types that can be registered in Ireland, they include:

• Private Limited Company;

    - Private Company Limited by Shares (LTD) 
    - Company Limited by Guarantee (CLG)

• Designated Activity Company (DAC)
• Branch Company
• Public Limited Company (PLC)
• Limited Partnership Company (LP)
• Sole Entrepreneurship

IRISH COMPANY FORMATION FAQs

• How much does it cost to register a company in Ireland?

The cost of registering a company in Ireland is $1975. The total cost of the registration includes comprehensive review, company registration service and certificate.

• How long does it take to register a company in Ireland?

It takes about two to three weeks to register a company in Ireland.

• How to register a company name in Ireland?

Contact Law and Trust International, our Lawyers get in touch with the ‘Companies Registration Office’, working with them closely to verify the registration of a business or company.

• What is a company registration number in Ireland?

The company registration number is a unique number issued when a limited company or limited liability partnership is incorporated in the territory of Ireland.

• How many digits is in a company registration number?

CRN (Company registration number) consists of six numbers. These are unique numbers given by the CRO to identify a company and confirm that it is indeed a registered legal entity. 

• How to register a company for VAT in Ireland?

Registering a company for VAT in the Republic of Ireland are dependent on what goods or services your business provides. Law and Trust International works with the Companies Registration Office for your companies VAT registration.

WHY INCORPORATE WITH LAW&TRUST INTERNATIONAL?

Benefits of Ireland company incorporation and registration with Law&Trust International team include:

• Full range of related services: Provision of a full range of legal, corporate, government, and business intelligence related services. 
• Professionals and expertise of Law: Worldwide registration and legal maintenance of companies, accounting services and audit, tax planning and optimization, trademark and patent registration, and many more. Best professionals are always available to help your business.
• Thorough domestic service: L&T ensure our services cover every region in Ireland. No matter where you decide, be rest assured we got the location covered.
• Free initial advice: Lawyers of Law and Trust provide free initial advice, as well as services for analyzing and developing a legal position on the issue you have raised.
• Fast and safe: Law&Trust keeps every clients’ details secured.
• Efficiency and productivity: Strategically providing up to date personalized services to help your business succeed.

READY FOR COMPANY INCORPORATION?

If you are interested in registering and incorporating a company in the Republic of Ireland, Law & Trust International can help. Simply send us an email or call now to take your business to the next level!