Why Form A Company in Ireland?

Ensuring that your company makes pension contributions (if cash flow allows)

Claim the maximum possible expenses allowable under legislation

Capital equipment used in your business is purchased and capital allowances claimed

Ensuring that benefits in kind (insurance, health care etc.) are paid out of the company

In the event that your company is led by a sole director, it becomes imperative to designate a separate entity or individual as the Secretary. However, when there are two or more directors, it’s possible for one of them to also undertake the role of the company Secretary. Irish Formations offers the option to serve as nominee secretary. The company Secretary bears a responsibility in ensuring the company’s compliance with its statutory deadlines. Working in close collaboration with the Accountant, they are dedicated to ensuring the punctual submission of financial statements. Failure to submit the Annual Return on time can result in substantial fines, and the financial statements might require auditing for a span of two years. To eliminate the risk of missing the Annual Return deadline, we will provide timely reminders of these obligations.

The shareholders stand as the proprietors of your company. It’s a common occurrence, especially in new enterprises, for the director to double as the company’s shareholder. However, it’s worth noting that directors are not obligated to be shareholders, and the same holds true in the reverse direction.

When considering the establishment of a Limited Company in Ireland, your initial focus may naturally be on the company name. Nevertheless, it’s important to keep in mind that the Companies Registration Office (CRO) imposes strict guidelines regarding company names. The chosen company name must possess uniqueness, setting it apart from other names already registered in Ireland, and it must adhere to the prescribed company name regulations. The Registrar carries out thorough examinations to confirm the uniqueness of your suggested name. Should it closely resemble existing names on the company registry, the Registrar has the authority to request a different name for resubmission. To streamline the process and save time, it’s advantageous to engage the services of a company formation specialist, such as our dedicated team at Irish Formations. You merely need to provide us with your proposed company name, and we will manage all the necessary procedures on your behalf.

The registered address pertains to your company’s official legal address. It must be a physical location situated within Ireland and subject to regular monitoring. Many companies choose to obtain a registered address specifically for this purpose, as important notifications are often sent there. It’s noteworthy that this address is publicly accessible on the CRO website. You can delegate this responsibility to a regulated Registered Office Address (ROA) provider, such as our organization. What is a business address, you may ask? The business address functions as the site where your company’s business-related mail, including invoices, is received. It serves as the hub for day-to-day communication concerning the company’s operations. Keep in mind that, for taxation purposes, the Revenue authorities will still need information about the specific location where your business conducts its operations, which is known as the trading address.

Once you submit your information on the website we will send you all the PDF’s to sign and return and your company will be incorporated within 3-5 working days. Everything is done remotely for you by email and we provide support at every stage.

Every Irish company must register its beneficial owner, defined as anyone holding 25% or more of the company’s shares, on the RBO (Register of Beneficial Ownership) website within five months of incorporation. Majority shareholders need a Personal Public Service Number (PPSN) or can use the BEN2 form for registration. Many tend to streamline this by delegating the Registration of Beneficial Ownership service to experts like Irish Formations, which is integrated into our Premium Packages. Note that establishing a bank account in Ireland hinges on completing this process. Failing to finalize RBO registration is a criminal offense, with potential fines or convictions. Many Irish banks require RBO registration before allowing your company to open a bank account.

When establishing new companies in Ireland, the process of tax registration holds significant importance. You must complete this step before you start trading and issue invoices to clients. Typically, a third party manages the tax registration procedure independently.

Managing tax payments and filing tax returns can be intricate, given the stringent deadlines and potential consequences for non-adherence. Our premium company formation packages encompass tax registration and the filing of your initial B1 Annual Return to the companies registrations office, which is due within six months. For subsequent requirements, we recommend seeking assistance from an Accountant. This approach guarantees both adherence to regulatory standards and a sense of assurance. By doing so, you can concentrate on your business activities while entrusting tax-related responsibilities to capable professionals. At Irish Formations, we can direct you to our affiliated entity CACM Accountants, a firm specialized in Audit, Tax, and Compliance services. They would be delighted to provide a quote tailored to your specific needs.

For the opening of a business bank account in Ireland, it’s generally necessary for at least one director to participate in an in-person meeting with a bank representative if you go with Bank of Ireland or AIB Bank. Alternatively you can choose a remote bank provider such as Revolut or Fire.com. Before proceeding with the process of setting up a company bank account, you should have the essential company documents at hand. These documents encompass the original certificate of incorporation, your company constitution, and a copy of the A1 form. Essentially, the setup of the bank account hinges on the successful incorporation of the company.