What Are The Company Set Up Requirements?

What are the Company Set Up Requirements?

What are the Company set up requirements? They can be different for each company depending on the Directors and Shareholders needs. Lets go through them one by one.What are the Company Set Up Requirements

How many Company Officers?
Each private limited company company is required to have a minimum of one Director and a separate Secretary.  There can of course be more than one Director. The Secretary is required to be either another company or an individual.

Make up of shareholders.
The Shareholders also need to be appointed, and these can be persons or legal entities (other companies) in Ireland or outside Ireland.

Information on Officers.
The Directors and Secretary as people are required to provide their names, residential addresses, nationalities, and date of birth. This information is used to make up the incorporation papers that officers and shareholders will sign.

Registered Office and Trading Address
On the incorporation papers, the Trading address or address of administration is requested along with the registered office address or statutory registered office address. It is strongly recommended that these addresses be different, and that the trading address is a place within Ireland that is manned at all times, and where desk space can be hired.

Directors in the European Economic Area
If you do not have a Director living in the European Economic Area then you will require a Section 137 Bond. Section 137 of the Companies Act 2014  states that the 2 year bond is required and insures the company for a sum of €25,394.76 and its purpose is to make sure that the company completes the required submissions with the Revenue Commissioners, and the Companies Registration Office. Irish Formations can organize these bonds for non-resident directors prior to incorporation, or for companies renewing the bond. For more information on the Bond visit our products page here.