Irish Company Registrations (Full Overview)

[Launder Expert]

Irish Company Registrations: Step-by-Step Guide for Businesses​

If someone wants to setting up a company in Ireland in Ireland then registration of a company is an important and necessary process. Even if you are a local businessman or entrepreneur it is important to register yourself in Irish Company Registrations. Ireland offers a lot of advantages to entrepreneurs and businesses like a gateway to the European market, and Ireland tax benefits for companies.

In this blog, we will learn about all the important documents required for registration, why choosing Ireland is good for your company, and a step-by-step guide to register a company in Ireland.

Why Choose Ireland for Your Company Registration?​

Irish company registration brings a lot of advantages to many companies (local or offshore business). These advantages include:

• Ireland corporate laws allow a low corporate tax rate of 12.5 % for trading income.
• Ireland has double tax treaties with over 70 countries. This offers tax benefits to the global businesses.
• Ireland is a country with a strong and stable economy which makes it a reliable place to start a business.
• Registering a business in Dublin provides a business-friendly environment and policies that support offshore business.
• Ireland is one of those countries where doing a business is quite easy.

Key Documents Required for Registration​

If someone wants to register for Irish company registration then here are the important documents that a company or business must have for registration:

• The constitution of the company (one document constitution, Memorandum or Articles).
• Certificate of business incorporation in Ireland.
• Proof of Identity of all the important officers and directors.
• Registered address of the company.
• Every Irish company must have a company seal.

Choosing the Right Business Name​

To select the right business name one must:

• Make sure that the name you choose is available and not taken any other company or business.
• Make sure to finalize the name that is easy to remember, spell and pronounce.
• A simple and clear name that is more catchy and easier to recall for customers.
• Make sure that the name stands out from the crowd and not general.

Step-by-Step Process for Registering a Company in Ireland​

The step-by-step guide for Irish company registration is:

1. Select a company or business structure.
2. Select a unique and simple name of the company.
3. Register the location of the company
4. Draft a constitution of the company as it is required for the Irish Company Registration.
5. Prepare the required document for Irish company registration.
6. Appoint the directors and company secretary.
7. Issue the shares and determine shareholders of the company.
8. Open a bank account under company name.
9. Register your company for tax.
10. Now function the company activities and financial transactions.

Role of the Ireland CRO (Companies Registration Office)​

A CRO is an authority for Irish Company Registration in the Republic of Ireland. Here is the breakdown on role of CRO (Companies Registration Office) in Irish Company Registration:

1. The main role of CRO is to incorporate Ireland Corporate laws of 2014.
2. CRO Acts as a central authority or repository for Irish company data.
3. It maintains a public register of Irish companies.

Post-Registration Compliance Requirements​

After Irish company registration a company’s ongoing compliance includes, filing of annual returns with Companies Registration Office (CRO), tax registration with the Revenue Commission through their Online Service (ROS), and ensuring that it follows the rules and regulations of the country.

Types of Companies You Can Register in Ireland​

The types of companies you can register in Ireland are:

• Designated Activity Company (DAC)
• Private Company Limited by Shares (LTD)
• Unlimited Companies
• European Union (EU)
• Public Limited Company (PLC)
• Company Limited by Guarantee (CLG)

Legal and Tax Benefits of Irish Company Formation​

Irish company registration offers both legal and tax benefits to the local and offshore companies.

• Ireland is famous for providing a low incorporation tax benefit of 12.5% on trading profits.
• A company that is incorporated in Ireland is a separate legal entity from its owners, which means that it can own a property, can be sued by its own name, and can enter into contracts.
• Ireland is the easiest country for the businesses.

Overview of Ireland’s Tax Structure for Businesses​

Ireland is said to have a low corporate tax rate of 12.5%, the losses can be carried back one year and carried forward indefinitely.

Common Challenges in Irish Company Registrations​

As we know, company registration in Ireland is advantageous for many offshore and local businesses. But it is important to know the common challenges faced in company registrations.

• Understanding the legal framework and Irish corporate laws can be complicated to understand.
• Choosing a unique name that is available can be a challenge sometimes.
• Sometimes the registration fees, legal fees and other costs can be a lot for the small businesses.
• Preparing the important and necessary documents can take a lot of time.

Frequently Asked Questions​

1. What are the steps to register a company in Ireland?
To register a company in Ireland one must decide a unique name of the company, appoint a board of directors, register an office address, and other minor processes.

2. How much does it cost to register a company in Ireland?
The fees to register a company in Companies Registration Office (CRO) is 50 euros which can be increased to 99 euros,

3. What documents are required for Irish company registration?
The important documents that are required for Irish Company Registration are a company name, details of all the directors and shareholders, registration address, issued share capital, and other.

4. How long does it take to register a company in Ireland?
To register a company in Ireland it typically takes 5-10 working days from the submission of all the important documents.

5. Can a non-resident register a company in Ireland?
Yes, a non-resident can register a company in Ireland but in a condition that the company must have a European Economic Area (EEA) resident director.