October 29, 2010, 3:33 pm
Foreign entrepreneurs who wish to establish a business in Ireland may do so by incorporating a brand new Irish company, being encouraged by the Irish government and enjoying equal and non-discriminatorily treatment. However already existing foreign companies may establish a branch in Ireland in order to develop and extend their business. A branch is considered the representative of the parent company in Ireland and it doesn't represent a separate legal entity. All the losses and liabilities, as well as the management rights are attributed to the parent company.
Preliminary activities prior to registering a company branch in Ireland
Before an Irish company branch can begin the registration procedure the parent company must appoint a representative who has the right through Power of Attorney to carry out the incorporation and administrative procedures. Also the incorporation documentation for the Irish branch must be drafted and notarized by a notary public. Another important step in the preparation process implies opening a temporary bank account and obtaining a statement from the bank in order to certify the deposited capital.
Registering a company branch with the Registrar of Companies
An Irish branch representing a foreign company is obliged to register with the Registrar of Companies, in much the same way as an ordinary Irish company. In order to do so the representative appointed by the parent company must submit an application containing basic information such as date of incorporation, country of incorporation, address, registered office, details on the directors of the company and information on the person appointed for the branch's operation. Also the application must contain the foreign company's memorandum and articles of association and a copy of the certificate of incorporation. The registration process is usually completed in 10 days, but the time period may be longer as it depends on the Court's decision. Additional information may be requested. In case the answer is favorable the registration certificate should be issued in a few days.
After obtaining the registration certificate the Irish company branch must register for VAT. The process is completed at the relevant Tax Authorities and implies filing an application containing proof of existence of the parent company, registration certificate of the branch and other relevant documentation. Furthermore if the company hires employees they must be registered for social security, pension fund, accident insurance etc. However the Irish company branch comes to existence upon issuance of registration certificate.
Setting up an Irish company branch from abroad
There is no significant restriction for incorporation a fully owned company in Ireland; furthermore the government encourages foreign investment offering many incentives. Opening an Irish branch may be done through a representative who must be resident of Ireland.
How long does it take to set up an Irish branch?
Setting up an Irish company is done pretty much in the same manner as a regular Irish company. Preparing the required documentation and notarizing it may take two or three days, but usually it's completed in the same day. Issuance of the registration certificate from the Companies Registration Office may take up to 10 days. An Irish company branch is usually completed in two weeks.
BridgeWest provides company formation in Ireland. Our assistance includes:
> drafting the Articles of Association (necessary for the company incorporation in Ireland); The Articles of Association c ... [More]