Guide to Company Incorporation in Ireland

1. What is the minimum share capital of a Private company limited by shares in Ireland?
The most common company type in Ireland is the Private company limited by shares as it is similar to a regular limited liability company, having a simple structure and a minimum capital requirement of only 2 EUR which must be paid upon incorporation.

2. What is the minimum share capital for a Public Company Limited by shares in Ireland ?
This business type is designated for large businesses having negotiable shares and a more complex structure. The minimum share capital required to establish such a company is 38.000 EUR.

3. Are there any special requirements for establishing a Irish Limited Liability Company?
In Ireland the formation of an Irish Limited Liability Company requires a minimum of two members and a maximum of 50. There is no requirement as to the nationality of the founders or their residence and they can be natural persons or legal entities. However the director must be a resident of the EEA. If not certain requirements and regulations are applied. The Irish Law imposes for any Irish company to have a registered address in Ireland and a company secretary responsible for ensuring statutory obligation are met. The registration procedure implies submitting company documents such as Articles of Association etc. at the Irish Trade Register. Usually the procedure can be done by a representative authorized with power of attorney, so there is no general need for company shareholders to travel to Ireland to form a company. However some banks may require the founders' presence, so it is advisable to ensure of the chosen bank's requirements.

4. How can I register for VAT in Ireland?
VAT registration in Ireland is not mandatory. Companies whose turnovers exceed 37.000 EUR for services supply or 75.000 EUR in case of goods supplies need to register for VAT. However companies that do not exceed the amounts above mentioned may still chose to register for VT in order to claim VAT on purchases. In order to register the founders or a company representative authorized with power of attorney must submit a file at the Irish Tax Authorities. As a result the company is issued a VAT number.

5. How can I open a bank account in Ireland?
Irish companies need to open a bank account in which to deposit the initial capital and operate future transactions. For this purpose Irish banks require certain company documents which can be sent by the founders themselves or a company representative authorized with power of attorney. Most banks accept working with representatives. However certain banks require the physical presence of the shareholder in order to sign the contract.

6. How can I recruit personnel in Ireland ?
Irish workers are competitive and skilled, Ireland being renowned for a rather high standard of living. Therefore employers need to offer good conditions and plenty possibilities. Recruiting personnel is at hand by using websites specialized in jobs or collaborating with recruitment agencies that offer best candidates following company's needs.

7. What is the average salary in Ireland?
Ireland is a powerful country in terms of economy; therefore the average net salary is over 2.500 EUR.

8. What is the overall economical situation in Ireland?
Ireland benefits from a strong and steady, economy with a progressive industry and large-scale foreign direct investment and exports. The country has great natural resource and due to its geographical location tourism is an important business sector. Ireland creates thousands of new jobs annually, accounting for over 200.000 foreign workers that immigrate every year to Ireland. The country has been affected by the global economic slowdown, in the present taking measures to prevent further damage by stimulating the less productive business sectors. Foreign investors are welcome in Ireland, and the government is permanently seeking to attract them by offering incentives such as loans, low taxes and grants.