When can a company be involuntarily struck off the register?

1.

Late Annual Returns

2.

No Statutory Accounts

  • Fails to submit its financial statements as required by law.

3.

No Registered Office

  • Does not maintain a registered office or fails to notify the CRO of any changes in the registered office address.

4.

Non-Resident Bond Compliance

  • Fails to have at least one director who is ordinarily resident in the European Economic Area (EEA) or if not maintain a Section 137 bond.

5.

No company secretary:

  • If the Secretary forcefully resigns.

What Are The  Consequences of Breaching These Obligations?

If the company breaches any of these requirements and fails to rectify the situation after a notice period, the CRO may take action to strike off the company from the register. This means the company loses its legal entity status, and the state could seize its assets. It’s essential for companies to ensure timely compliance to avoid involuntary strike-off.

The Companies Act 2014 sets out various requirements that Irish companies must adhere to in order to maintain their legal status. If you fail to meet these obligations, the register might remove the company, and the company’s officers could face consequences.

How We  Can Help?

Any questions you have on this or if you have a company with us that you feel may meet this risk contact us. We are on hand to give guidance in assisting you with whatever you may need. Remember it is always better to stay compliant. The serious and sanctions and fines can be detrimental to your company. Our experts firmly believe that this starts with you starting off on the right foot and incorporating your company accurately and efficiently. We offer the highest quality incorporation service here at Irish Formations and can help guide you on the right path ahead of your new business venture. We can check your status and advise you on the next step. If you want to remove your company from the register, you can find more details on our Strike Off Service Page.

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.”
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How Can I Keep My Company Compliant?

Filing Your Annual Returns

  • Your first annual return is due precisely 6 months after your incorporation date. You have 56 days to file this return.  Every Irish company must file their first annual return regardless of trading status. Irish Formations covers the submission and filing of your first annual return with the premium package and the non resident packages. After this your returns will be due every year on that date. For your second annual return and everything after this we can refer you to our sister business CACM accountancy firm who would be happy to assist you with any future filings.

Statutory Accounts

  • Companies must keep proper books of account that provide a true and fair view of their financial affairs. They must also disclose their financial statement details at the Annual General Meeting (AGM) and attach a copy of those financial statements to the annual return they file with the CRO. Understanding your obligations as a company officer is crucial in staying compliant. We always recommend hiring an accountant to make sure they prepare these accounts correctly. We again give you a referral for CACM for this.

Maintaining A Registered Address

  • It is a legal obligation to have a registered address. The registered office address can be any physical location in the Republic of Ireland. This is a place where your post and packages can be delivered to. A PO box will not suffice. This is the address where your company will be registered with the CRO (Companies Registration Office). All your CRO correspondence and legal documents will be dealt with through this address. It is vital that this address is always kept up to date with the CRO. It is an obligation to notify the CRO of any changes to this address. Here at Irish Formations we offer a registered office service.

Secure and Maintain A Non-Resident Directors Bond

  • If you do not have at least one director who is a resident within the EEA then you will need a non – resident or section 137 bond. This is a security measure that is put in place to the value of €25,000 to ensure costs are covered in the event that your company fails to pay all or some of the fines imposed for non compliance. This must be in place before incorporation and must be renewed every 2 years.

Secure and Maintain A Non-Resident Directors Bond

  • If you do not have at least one director who is a resident within the EEA then you will need a non – resident or section 137 bond. This is a security measure that is put in place to the value of €25,000 to ensure costs are covered in the event that your company fails to pay all or some of the fines imposed for non compliance. This must be in place before incorporation and must be renewed every 2 years.

Have A Company Secretary

  • It is a legal obligation to maintain the status of your company officers or update the CRO of any directorship or secretary changes within the company. Irish Formations can act as nominee secretary for your company to ensure you stay compliant.

Need Help Setting Up Your Company?

Call us! Our expert consultants are eager to assist you with any questions
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Here at Irish Formations we can provide all the services to help you stay compliant and care about our clients and their due diligence. The first step toward staying compliant is of course the quality and accuracy of your company set up. We strive to have all of our customers start of their business journey withy their best foot forward. We have carefully organized our services into company formation packages. Let’s discuss these options, and once you choose the best one for you, we’ll guide you through our simple and easy formation process.

Your Essential Company Set Up Checklist:

  • Have at least one Director
  • Choose A Company Secretary
  • Have at least One Shareholder
  • Choose A Company Name
  • Have a Business address and Trading Address
  • Prepare and Sign Documents

Our Company Formations Packages

Irish Company Formation Packages

Starting a company has never been easier. Our online service gets you set up quickly and professionally.
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€219(+VAT)
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Non-Resident Company Formation Packages

Ireland is one of the best places in the world to do business, so start your company in Ireland from abroad today.
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€219(+VAT)
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