A limited company also referred to as a private company limited by shares is a common company formation structure in Ireland. It is characterized by limited share capital and liabilities. It can operate with one director and can successfully claim audit exemption eligibility. Though a limited liability company can be owned by foreigners, at least one company director must be an Ireland or EEA citizen. However, this requirement can be overlooked where a foreign investor is willing to deposit a €25,000 bond with the Irish business registrar.
What Do You Need to Register A Limited Company In Ireland?
At least one director: you need at least one director who will oversee the management of your limited company on behalf of the shareholders. Note that, the director can also be a company shareholder. Where the appointed director is not an EEA citizen, the company must meet the non-EEA residents’ bond requirement prior to registration.
Company secretary: if a company has one director, it should appoint a company secretary. On the other hand, if the directors are two or more, one director undertake the role of a company secretary. Alternatively, startup companies can always outsource the company secretary role to a corporate and professional body based in Ireland. The main duties of a company secretary is ensuring that annual returns are filled on time. As such, they work closely with the company accountants to ensure that the filed returns are error free.
Registered office and business address: a registered office address is the official and legal physical address of your company in Ireland. A business address is applicable to online trading companies that are permitted to use business correspondence addresses.
Company name: the company name you choose must be distinguishable and unique against all other company names registered in Ireland. The company registrar always carries out a company name check and if the proposed name is not strong enough or unique, the company name submission is rejected and returned for review. You can reaffirm your company name uniqueness by searching the CRO’s company search facility or the trademark register.
Company incorporation documents: once the above company formation requirements are ready, your company is ready for incorporation. This can be done online through the (CORE) companies online registration environment or by hiring an Ireland company formation specialist to do the job on your behalf. For successful incorporation, Form A1 and the company constitution must be duly signed by company directors.
The above are core requirements that guide investors on how to register a company in Ireland. However, there are many company registration factors like allocation of shares that must considered. For instance, a limited company can have issued shares or authorized shares. Issued shares are the number of shares that are have been allocated and fully paid for by shareholders while authorized shares are aspirational share amounts that can be issued during company formation or in future.