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Company Formation Ireland

Updated on Tuesday 22nd May 2018

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Ireland is one of the most attractive destinations for foreign investment in the world due to its young, well-educated and flexible workforce.

Any person - no matter his or her nationality or residence - can be a director or a shareholder in a company in Ireland. Shareholders of an Irish company can be natural persons or legal entities. Irish companies are required to have a local secretary. The company must have a local registered office and BridgeWest offers this type of service.

In order to start the incorporation process of a company in Ireland, the client must choose a name for the company. The following documents are required for company incorporation in Ireland:

- copies of the identification documents;

- recent utility bills as proof of the shareholders’ residential address;

- bank reference letters;

- for legal entities wanting to open a company in Ireland, a certificate of good standing issued by the Trade Register in the country of origin is required.

The same documents together with the specific application forms are required when setting up a bank account. An Irish expert will prepare the documents of incorporation. The application for incorporation is done by submitting the documents of incorporation in print, in electronic form or in a “Fe Phrainn” system in a preapproved form. The application is submitted to the Companies Registration Office. The documents required for registration are: 

-    the memorandum and the articles of association, 
-    details about the shareholders, directors, and secretary, 
-    a statement about the issued capital and the registered office. 

Companies in Ireland are also required to register for social insurance, corporate taxation, and VAT with the Revenue Commissioners.

Bridgewest provides the following services for company incorporation in Ireland:

- drawing up the articles of association that can be signed through power of attorney (Irish laws require powers of attorney for any public notary proceedings);

- drawing up documents for company incorporation in Ireland: specimen signatures, identification papers copies, application form required by the Companies Registration Office;

- arranging public notary proceedings all procedures for company incorporation are done in front of an Irish public notary);

- providing a registered office in Ireland on demand; the registered office serves as headquarters for the company in Ireland and it will be made public;

- setting up a bank account for the company in Ireland; BridgeWest will help in setting up the share capital bank account, as well as a current bank account once the company is incorporated;

- recommending an Irish accountant, as accounting services are needed for new businesses in Ireland.

The Irish private company limited by shares

The minimum number of shareholders for a private company limited by shares in Ireland is one and the maximum is 99 and they can be nationals or foreigners. The shareholders will be held liable to the extent of their capital contributions for the company’s debts and obligations. Shareholders cannot trade their shares on the stock exchange. The director of an Irish private company must be resident of the European Economic Area (EEA).

The Irish public company limited by shares

The minimum number of shareholders for an Irish public company limited by shares is seven and they can be nationals or foreigners. The minimum share capital required for a public company is approximately 38,100 EUR and 25% must be paid upon incorporation. Shareholders will be held liable for the company’s debts and obligations to the extent of their capital contributions. Shareholders are allowed to trade their shares on the stock exchange.

Irish branch, subsidiary and representative office

Foreign companies are allowed to set up separate enterprises from the parent company, where the foreign company will be a shareholder in an Irish company. Foreign companies can also open extensions of the parent company in Ireland. Irish branch offices must appoint an Irish resident who will act as representative in legal matters and who will ensure management compliance.

Taxation in Ireland

The standard VAT rate in Ireland is 23%, but reduced rates of 13.5%, 9%, 4.8% apply to certain products. The corporate tax in Ireland is set at 12.5% for trading income, while the non-trading income is taxed at a 25% rate. For Irish and foreign companies, the dividend tax is set at 20%, unless tax treaties are enforced and smaller rates apply.

BridgeWest is also able to offer ready-made Irish companies and VAT registration. 

Please contact us for more information about how to open a company in Ireland and prices.



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