Set up a Company in Ireland

Ireland has one of the lowest Corporate Tax Rate in the world and a strong well structured organizational infrastructure. The economy of Ireland is developing and is offering a stable basis for foreign entrepreneurs. Setting up a company in Ireland is a fairly simple process that can be completed in a short period of time.

Preliminary activities before registering Irish companies
In Ireland the founder of a company must swear before a Commissioner for Oaths, or a Practicing Solicitor attesting that the company complies for the provisions of the Irish Companies Acts. The founder must also establish a registered office, establish the object of activity and deposit the minimum capital.

Registering with the Companies Registration Office in Ireland
In Ireland a company incorporator may apply for registration by submitting a CRO disk system in which the articles of incorporation are included in print and electronic form. In order to access this system the founders must apply to the CRO for an access number. The application for registration must contain the memorandum and articles of association of the company, the list of directors, secretary, and if it is the case, the shareholders, the notice of the registered office. Also the founders must create a statement of the business activities and send it to the CRO. The CRO website has the corporate forms which can be downloaded.

Obtaining a company seal in Ireland
After registration of the Irish company, the founders must get a company seal and keep the statutory registers for the directors and shareholders. The procedure is simple, and it is completed in a few hours.

Register for corporation tax, social insurance and VAT with the Revenue Commissioners
The founders of an Irish company must submit an application form in order to obtain a tax identification number. The forms are available either on the relevant administrative institution's website, either at its headquarters. After the forms are processed in the Revenue Commissioners' database, the company is registered for corporation tax and social insurance. In another five to ten days, the company is also registered for VAT.

Setting an Irish company from abroad
Ireland is a profitable territory for foreign investors, as there is no distinction between foreign or national companies, in terms of rights and obligations, however a company founded by a foreign entrepreneur doesn't have to be resident and can be formed easily with the help of an assignee. Another advantage is that Irish legislation does not stipulate any restrictions on repatriation of earnings or capital, nor is it mandatory for entrepreneurs to use a certain currency.

How long does it take to set up an Irish company?
Irish companies are established in a short period of time. Each process is completed in one to two days, except registering with the Companies Registration Office. Using the CRO disk system is easy, but the whole process takes 10 days. Overall the whole company formation process is completed in approximately two weeks.