22 Feb Setting up A Company in Ireland for Non-Residents; Basic Requirements
Ireland remains among the most attractive business destinations in the world. Corporation tax has been reduced to as low as 12.5% with some companies enjoying 0% tax until 2019. Human resource is readily available and affordable, making it even more attractive to set up your business in Ireland. For non-residents, setting up a company in Ireland is a nerve wrecking affair. You do not understand legal requirements or where to get and even take the documents required for your registration. Here is a guide from experienced company registration agent that will make the process stress free for you.
Requirements For Registration Of Company For Non-Residents
You will be required to provide the following documents for processing of your registration.
- Company name– you need a name that is unique in order to distinguish your company and operations from other businesses operating in Ireland. Names such as ‘bank’, ‘insurance’ and ‘group’, among others are prohibited unless you have express permission. The name chosen must also not be offensive. To get a unique name, you need to conduct a search that will reveal those already taken and therefore leave you with choices to make.
- Type of company– indicate the type of company you wish to start. The most common company type for non-residents in Ireland is a Private Limited Company. A limited company separates responsibility of the company from the individual. Other types of companies to consider include company limited by shares, designated activity company, company limited by guarantee, public limited company, unlimited company, limited liability partnership and Societas Europaea company. Consult a specialist to help you identify the best option based on your operations.
- Constitution– this is a document detailing your principle activities. The law provides codes that you select to indicate your areas of operation and specialization. The agents will assist you to choose codes that accurately represent your business concentration.
- A registered office or address- this is the official address or residence for your company. The address must be somewhere in Ireland. Interestingly, the trading address may be different from the registered address. There are Registered Office Services that enable non-residents to operate virtual offices.
- Directors- directors are the people mandated to run the affairs of the company on behalf of owners. One director is required for a Private limited company. A separate company secretary must be appointed where there is a single director. Information required for directors includes
- Full name
- Residential address
- Business occupation
- Date of birth
- Other companies he/she operates as a director
- Company secretary- this is the person mandated to run the affairs of the company on behalf of owners. He could be a director or a separate individual. A bureau may act on your behalf as the company secretary. This allows you to operate remotely and still fulfill your mandate.
There are other requirements when setting up a company in Ireland that will depend on the type of company, nature of directorship and your operations. Issued shares should be considered alongside the name and residences of share holders. You must also indicate the amount of shares held by each shareholder. Consult a specialist to make the process of registration easy.