Register A Company In Ireland

Here’s a comprehensive step by step guide on how to register a company in Ireland. Register your Company today with Irish Formations and we can ensure efficiency, accuracy and quality.

How To Register A Company In Ireland

To register a company in Ireland, there are several tasks to be completed and key areas need to be examined. That’s where we come in. Its our job to ensure that your company registration in Ireland is completed cost effectively and efficiently . These include needing a director, company secretary, and shareholders. Additionally, you will need an Irish address, sufficient share capital, and a distinct company name.

Once you have assembled these foundational components, the next steps involve preparing your incorporation documents. Don’t fret if you are unfamiliar with the preparation process. The team here at Irish Formations are experts in this area and here are here to offer our assistance and guidance.

Furthermore, it is crucial to adhere to annual company obligations and filing requirements post incorporation. We will guide you through these obligations. Any obligation we do not provide a service for we can offer you an accountant referral where they would be happy to fulfill these obligations for you.

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How Long Does it Take for a company registration in Ireland?

For a Company registration in Ireland the incorporation process itself takes approximately 3 – 5 working days. This refers to the simplest cases. However, depending on your companies specific needs this may take slightly longer. Here at Irish Formations we aim to have your companies set up as efficiently and quickly as possible. The CRO Processing times can vary.

The first step is to make your online account with us and fill in the online form. This only takes a matter of minutes. Once the order is processed on our end our team then starts working on your order immediately. The first step will be confirming your PPS number if you are a resident. If you are a non- resident we will at this point send you a FREE VIN (Verification Identity Number) application which we can process for you. The process time for this again varies but is approximately 5 working days. While you wait for this number, you can sign all your documents, send them back to us, and our team will cross-check them.

If you are a non – resident then you may also need to obtain a section 137 bond. If so you will have put through this as an add on with your original order and our team can again start working on it immediately. The process consists of correlating with the insurance brokers to have your documents processed and bond secured. All signatures for this can be done digitally. This process takes on average 5 – 7 working days but again can vary. All actions taken by the team here at Irish Formations are processed same day.

The next step will be choosing your company name. This sometimes causes delays if the name you have chosen is refused. The CRO are generally quite quick with the times for approving or rejecting company names. If this happens once the new name is submitted to be checked they generally get back in 1-2 days.

Once all documents are back to the team and cross checked, we can then submit them for registration. The companies registration office generally issues your certificate of incorporation within 3 – 5 days to which you will be alerted immediately.

How To Choose A Limited Company Name?

Choosing a name to register your company can be daunting. There are a number of considerations when doing this. We will take you through the considerations when making this decision.

The Process

  • Firstly, it is advisable not to start the process of marketing your business or to incur expenses relating to marketing until you have secured your limited company . The CRO can at times be strict in their guidelines and may possibly reject your chosen name, However, If you don’t get the company name you require you can still trade with the brand you need. Don’t worry, if they reject it, we’ll process your newly chosen name within a day, and you can appeal it if necessary. A limited company name isn’t guaranteed until we incorporate the limited company. As part of your company formation package for registering your company we correlate with the CRO to have this registered for you.

Choosing a Company Name

  •  From both a marketing perspective and in line with the CRO guidelines the name you choose should be unique for your company registration in Ireland. The best way for you to get your name is to look at what’s available. Of course if you give us a call we can check the availability of the name you want. Feel free to use the checker on our homepage also. This is the name you will trade with. Trading with a Limited company name is always preferable but not the only approach. We named our limited company Irish Formations Connect Limited. It trades as Irish Formations. We did this because there is a Dissolved company on the register named Irish Formations, so we couldn’t use that name. We added the word “Connect” to make the limited name unique.

Compliance with Regulation

  • You can’t use the word “standard.” It’s prohibited.
  • If your name implies specific functions, like “holding” or “group,” you might need to provide additional information to the CRO.
  • You can’t use “University,” “Institute of Technology,” or “Regional Technical College” without seeking and obtaining permission from the Department of Education.
  • Words like “insurance,” “re-insurance,” and “assurance” require prior permission from the Irish Financial Services Regulatory Authority (IFSRA).
  • Using “society,” “co-op,” or “co-operative” is not allowed unless you’ve obtained permission from the Registrar of Friendly Societies.
  • It’s generally recommended to include extra words in your company name to ensure sufficient distinction between names.
  • Certain words, abbreviations, accents, and punctuation marks are not enough to distinguish between company names. For instance, avoid using words like “company,” “co,” “corporation,” “and,” “&,” “service,” “services,” and “limited.”
  • Place names, such as Ireland, Dublin, West, etc., are not considered sufficient to differentiate between company names.

Approving of Name

  • You should exercise caution when dealing with names that are deemed to have a distinctive element. Simply adding qualifying words might not be enough to set apart company names. Names that sound or look similar will be denied, even if there’s only a minor spelling variation that doesn’t significantly differentiate them. As previously mentioned, if your name gets rejected, you’ll need to select an alternative. You can then resubmit it for approval, and it typically gets processed within a day or so.

Our Company Formation Process

1.

Have A Chat With Our Managing Director about a Company Registration in Ireland

The first step will be a call with our managing director about a company registration in Ireland. He will talk you through all your options and the necessary specific requirements for you and your company. Prices and requirements vary depending on a number of factors such as company type or residency. There are some elements of the company registration in Ireland process that we can ommit to speed up and make the process more cost effective.

2.

Placing Your Order

After your discussion and having decided on how to proceed you will make an account with us and place your order for your company. The following information will be required:

  • Company Type
  • Company Name (First Choice)
  • Company Choice (Second Choice)
  • Would you like to add our registered office address? (decided on phone consultation)
  • Nature of business
  • Director 1 details (Name, Address, Date of Birth, Occupation, Nationality)
  • Company Secretary Details
  • Shareholder Information
  • Any other information you want to give us which may be relevant

3.

Email from the Team and Filling in of Forms

  • Our team will email you over your signature pages, constitution and tax registration. They will then check all your information and correspond with the CRO to have your company name approved. We will liaise back and forth with them until everything is 100% accurate. This generally takes around 5 – 6 working days but can vary depending on CRO processing times. During this time you will also be emailed by a member of our team to provide us with a trading address and to confirm your PPS number.

4.

Confirmation of PPS number or VIF Application

Simply adding qualifying words might not be enough to set apart company names. Names that sound or look similar will be denied, even if there’s only a minor spelling variation that doesn’t significantly differentiate them. As mentioned earlier, if they reject your name, you should choose another one. If you do not have a PPS number then you will need to obtain a VIN (Verified Identity Number). We include this service as part of your company formation package and can handle all paperwork and filings for you. It is important to note that you can not form a company without obtaining this number.

5.

Submission to CORE to Await Your Official Incorporation

  • Once we process all the documentation, the CRO will issue your certificate of incorporation. Our team will then prepare your official company documents, which we’ll add to your account for digital viewing. We’ll also send the physical documents to you by mail.

6.

Post Incorporation (Tax Registration, Annual return, Registered Address)

  • After incorporation you still have a number of obligations to complete. In the purchase of a premium package or for non – residents we provide these services for you. After we send your incorporation email, we also send your RBO and Tax Registration emails. The RBO filing is a legal requirement for those who wish to open a business bank account. Tax registration is necessary before you start trading or issuing invoices to clients.
  • We also take care of your First Annual Return. You must file this precisely 6 months after incorporation with the CRO. We will remind you of this and email you the signature pages and make the submission for you when the time comes.
  • Irish Formations provides a registered address service for those that may need it. This means we keep track and organize any post delivered to your new company. We scan it and email it to you and keep it in its own personal file.

What Are The Different Company Types In Ireland?

It is important to understand the different company types and know exactly what a limited company is before setting one up.

We have compiled an extensive breakdown of the possible company types below.

1.

Private Limited Companies

Private limited companies are the most prevalent form, offering limited liability to their owners, who can be one or more individuals, and their shares are not publicly traded.

2.

Public Limited Companies

Public limited companies, on the other hand, cater to larger businesses and have the ability to offer shares to the general public. They are subject to more stringent regulations and compliance requirements.

3.

Companies Limited by Guarantee

Companies limited by guarantee typically function as nonprofit organizations. In such entities, the members’ liability is limited to a specific predetermined amount, and they do not issue shares.

4.

Unlimited Companies

Unlimited companies, as the name suggests, have no restriction on liability. In these cases, the members bear personal responsibility for the company’s debts.

5.

Other Companies

Apart from these primary categories, there are specific types such as designated activity companies, investment companies, and industrial and provident societies. Each of these serves different purposes and adheres to specific rules and regulations. The Companies Registration Office in Ireland oversees the registration, governance, reporting, and compliance requirements for each type of company.

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What Is A Limited Company?

A limited company in Ireland refers to a type of business structure that offers limited liability to its shareholders or members.

It is a legal entity that is separate from its owners, which means the company can enter into contracts, own assets, and conduct business in its own name.

Limited liability shields shareholders or members personally if the company accumulates debts or faces financial challenges. They are only liable for the amount they have invested in the company or the value of their shares.

What Our Customers Are Saying

“I hate paperwork and for that reason, the company formation process gives me the heebie jeebies! Irish Formations were incredibly patient and helpful in breaking down the work flow needed to get the job done. With good humour and grace they hunted me down for the inputs I needed to make, and then seamlessly delivered on the project.I can’t imagine ever setting up a company with anyone else – there can be no better testament to their approach.”
Frank Hannigan
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Your Essential Company Set Up Checklist:

1.

Have At Least 1 Director

To initiate the company registration process for a Private Limited Company in Ireland, the first essential task is to appoint a Director. It is necessary to have at least one director for your company.

The director plays a crucial role in managing the company on behalf of its shareholders.

For all Irish companies, it is not mandatory to have at least one director who is a resident of an EEA/EU country. However, if an Irish company has all directors who are non-EEA residents, they must obtain a Section 137 Bond. This requirement also applies to UK-resident directors who wish to establish a company in Ireland as non-resident directors due to changes in the rules following Brexit.

Additionally, all directors, regardless of their residency status, must possess a Personal Public Service (PPS) Number to set up a company in Ireland. If you don’t have one, you can apply for it, although the process might be lengthy. Alternatively, you can apply for a Verification Identity Number (VIN) through Form VIF, which is also a requirement for company setup in Ireland. The team here at Irish Formations can handle all of this for you. All we require is your signature!

2.

Appoint A Company Secretary

If you have only one director, it is necessary to appoint a separate company secretary. However, if your company has two or more directors, one of them can also fulfill the role of the company secretary.

The primary responsibility of the company secretary is to ensure the company meets its Annual Return Deadline. Here at Irish Formations we thankfully provide this service. We do all the paperwork and filing for you, all we require is a signature. Late filing of the Annual Return can result in hefty fining and penalization to either the company or the stakeholders involved. To avoid any issues with missing the Annual Return deadline, our service offers peace of mind and can help you stay in compliance. The company secretary plays a critical role in ensuring adherence to the deadline and avoiding potential penalties.

We also offer a nominee secretary service which means we act as your secretary on all legal correspondence. We sit in the chair, but we don’t part take in any secretarial obligations.

3.

Decide On A Shareholder

The shareholders are the rightful owners of your company. In many new businesses, it is customary for the director and company secretary to also be shareholders of the company.

If you are establishing a company with a co-founder, you might consider discussing shareholders’ agreements and voting rights. However, it’s important to be aware that these agreements are not mandatory when setting up a company in Ireland.

4.

Decide On Shares

Shares can be envisioned as portions or units of ownership in the company that can be distributed to individuals. As a result, the division of shares defines the legal ownership structure of the company.

In the process of establishing a Limited Liability Company in Ireland, shares are issued. Once the company is registered, there is flexibility to either allocate additional shares or transfer existing ones to other parties.

5.

Have 2 Irish Addresses

When registering a company in Ireland it is necessary to have a business address and a registered address. There is a distinct difference between the two.

The official legal address of your company must be a physical location within Ireland and regularly monitored.  At Irish Formations we offer a registered office service. This address is publicly available on the CRO website.

On the flip side, a business address is where your company receives its business mail, including invoices. It’s important to note that, for tax purposes, Revenue requires the exact location where your business carries out its trading activities. This is known as a trading address, but it’s not a mandatory requirement for establishing a company in Ireland.

6.

Decide on A Company Name

When considering the registration of a Limited Company in Ireland, the company name is likely to be the first aspect that comes to mind. However, it’s crucial to bear in mind that the Companies Registration Office (CRO) maintains strict guidelines concerning company names.

To comply with the regulations, the company name must be unique and easily distinguishable from other names already registered in Ireland. It must adhere to specific company name guidelines.

The Registrar will perform comprehensive checks to ensure the proposed name meets these requirements. Irish registered companies must actively register their beneficial owner, meaning anyone who holds 25% or more of company shares, on the RBO (Register of Beneficial Ownership) website.

To simplify and expedite the registration process, it is advisable to enlist the services of an expert, like our team at Irish Formations. With our Company Formation Ireland Service, we provide a thorough company name check. Simply provide us with your proposed company name, and we will handle all the necessary procedures to ensure a seamless registration.

Is your company name available? Find out with one quick search!

7.

Sign Your Incorporation Documents

Once you have completed the necessary requirements, you are all set to incorporate your company.

You will need to sign Form A1 and constitution form. Once you provide our support team here at Irish Formations with the necessary information we can fill out the rest of your documents. Your incorporation documents will be added to your Irish Formations account for viewing and also posted out to you. These will include a cover letter, first minutes meeting, register of directors and secretary, certificate of incorporation and share certificates. We will also ensure a compliant constitution is written.

The Companies Registration Office (CRO) usually takes 5-10 days to process your application for the new company. This can vary from time to time.

Everything You Need To Do After Incorporation:

1.

File With The Register Of Beneficial Owners

Every Irish registered company must register their beneficial owner, which refers to anyone holding 25% or more of company shares, on the RBO (Register of Beneficial Ownership) website. You have a window of five months after incorporation to fulfill this registration requirement. For the majority shareholders, it is necessary to possess a Personal Public Service Number (PPSN) to complete the registration. Alternatively, they can fill out a form BEN2. To simplify the process, you have the option to outsource the Registration of Beneficial Ownership service to a company formation specialist, such as Irish Formations. We include this key process within our Premium Packages. Opening a bank account in Ireland is not possible without completing this step.

2.

Registering Your Company For Tax

For new companies in Ireland, tax registration is a crucial step. This must be completed before commencing trading and issuing invoices to clients. Usually, this tax registration process is handled separately by your third party.

Various taxes apply to Irish companies, including:
Corporation Tax
This tax is levied on the profits generated by companies operating in Ireland.
Value Added Tax (VAT)
A consumption tax applicable to most goods and services sold in Ireland.
Relevant Contracts Tax (RCT):
A withholding tax imposed on specific construction-related activities in Ireland.
Employers PAYE:
Employers are responsible for deducting the appropriate amounts of income tax, Universal Social Charge (USC), and Pay-Related Social Insurance (PRSI) from their employees’ pay.

Managing tax payments and filing tax returns can be complex, with strict deadlines and potential penalties for non-compliance. In our premium company formation packages we offer tax registration and we file your first B1 Annual Return which is due after six months. Anything after this we would recommend you go to an accountant. This will ensure proper compliance as well as peace of mind. This allows you to focus on your business while leaving the tax-related responsibilities in capable hands. At Irish Formations we will refer you to our Sister business called CACM who work in the Areas of Audit, Tax Compliance.

3.

Open A Business Bank Account

To set up a business bank account in Ireland, typically, you’ll need at least one director to meet with a bank representative in person. Alternatively, you have the option to open an online bank account with a bank provider such as Revolut or Fire.com for which we are Channel partners.rnrnBefore proceeding with the setup of a company bank account, you must possess the necessary company documents, which include the original certificate of incorporation, your company constitution, and a copy of the A1 form. In essence, the bank account setup is contingent upon the company’s successful incorporation.

4.

File Your B1 Annual Return

Once your company is incorporated, you are obligated to submit Annual Returns to the CRO, even if your business is not actively trading.rnrnYou can easily verify your company’s Annual Return Date by utilizing the CORE Company Search facility.rnrnWithin six months after incorporation, you must submit the first Annual Return. There is no requirement to file any financial statements at this stage. Companies have a period of 56 days to complete all the necessary elements of the Annual Return. It’s essential to be aware that there are substantial penalties imposed for failure to meet the deadline. We provide this service and take care of this for you with the purchase of any of our premium packages.

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Ready To Register? Get In Touch Now!

Are you ready to start your company registration in Ireland? Setting up an Irish Limited Company doesn’t have to be a challenging endeavor. With the right support and resources, your business can be up and running in no time. We are here to be your comprehensive guide to registering your Irish Company. Look no further and we will have you set up efficiently, accurately, and quickly.

Company Registration Ireland