The formation of a good company depends on a lot of things including consultancy firms to get answers on what and how best to form your company. They also ensure that you meet the required legal requirements that govern company formation in Ireland. They do so by offering assistance to process company formation in Ireland steps discussed below.

During company formation in Ireland, you have to first determine if the company you want to start is a private or a public limited company. After this identification, you should also ensure that you identify a unique name for your company. Names such as banks require special government authorization before use as part of your company name. Identification of a good office space to start your company is also a necessity. During the formation of a company, you should, first of all, ensure that you have at least one director to run the company. The director should be from within the European economic area popularly known as EEA. If the director happens to not be within a non-European economic area, the parties involved should purchase a non-economic resident area bond before continuing with the company formation process.

Secondly, the company should have a constitution that will clearly explain what is expected from its workers. A company secretary is responsible for matters such as bookkeeping. A company secretary can also be a director or any other individual as long as they meet the required legal qualifications. At this stage, the company is now at a position to ensure that they have at least one shareholder. The shareholders are practically the owners of the company. Therefore, each shareholder should identify the number of shares they wish to hold in order to ensure and maintain legal ownership of the company in Ireland. Shares are taken to be pieces of a company that you can give out. There are two types of shares; authorized shares which can be given out when setting up the company or in the future and issued shares that have already been issued and paid for by the shareholders.

After completion of all these steps, you are almost done with the company formation in Ireland. Now you need to get your documents for incorporation and ensure that they are duly signed by the relevant parties. This can be done online or via a specialist who deals with company formation. In completion of this process, you make an order for the purchase of a company seal which will have the company’s name engraved on it and will also be used in important documents such as company contracts and laws. You can now open a bank account in Ireland for your company. Also, ensure that you identify the types of taxes you should pay for in this case; it could be either the corporation tax or value-added tax. File your annual returns and beware for deadlines.