How to set up a company in Ireland. Sole Trader, Partnership or Limited Company?
Setting up a Company in Ireland is easy with Irish Formations, but there are things you need to know before you get started. This is our essential guide to doing it with an agent.
Are you going to be a Sole Trader, Partnership, or Limited Company? You need to decide on your structure before you go ahead. Starting as a Sole trader or Partnership is as easy as registering a business name which can be done in a few days. You may need to register for tax if you exceed certain tax bands. Ensure your agent can do this with the name registration as you will get more value.
See our Business Name Registration page for more information.
When forming a company:
1. Decide on your business name. Research it and make sure it is unique, or it may be rejected. Your name should be researched for availability by your agent, to minimise the chance it will be rejected.
2. Decide on our “Object” Clause and discuss this with your agent. This clause makes part of your Memorandum and Articles of association.
3. Decide on your company type. Will you be setting up a Multi Member Private Limited Company or a Single Member Private Limited Company? We can advise on company types when you contact us.
4. Where is your registered office? Every company in Ireland is required to have a registered office address within the state. This cannot be a P.O Box number.
5. Decide on your share structure. You will need to consider Authorised, and Issued share capital as well as values for each. We set up these shares in a way to minimise cost in the future if you wish to issue further shares.
6. Who are your shareholders going to be and what is the distribution set up for your shares? We will collect this information and incorporate it into your application.
7. Your application is then made by us. All you need to do is sign the pages we give you and the rest is done for you. We engage with the CRO if necessary thereafter.