frequently asked questions
You do not need to be a resident in Ireland. However, you must meet several other conditions including:
- You must be over 18 years and older
- You must never have been declared bankrupt
- You will require a registered office address in Ireland
Yes. You can set up an Irish limited company with a single director who is a resident of EU/EEA. However, by law, you are required to appoint a Company Secretary to take care of your filings to the Companies Registration Office and the Revenue Commissioners, as well as deal with day to day business needs as they arise.
Not necessarily. We can discuss your individual needs in detail and create a custom package that is best suited for your situation, goals and objectives. The Non-Residents package includes everything that you need to start your company including a registered office address as well as free registration for taxes and the first Annual Return submission. The all inclusive package comes at a best market price available!
A registered address is the official address of an Irish limited company where all official government correspondence is being posted to. The registered office address must be a physical address in Ireland. Your company, however, does not need to carry out its business or trade activities from this address. If you don’t have a suitable Irish address to use as your registered office, the Non-Residents Package includes a registered office address in Ireland.
A company secretary advises the company and looks after compliance and corporate governance matters. They are responsible for filing the company’s annual returns and filing taxes among other administrative functions.
In company with multiple directors, one of the directors can act as company secretary. If the company is a single-director company, a separate Company Secretary is required by law. Irish Company offers a professional and affordable Company Secretary Service.
Yes. Irish company will forward all of your mail to your chosen correspondence address, globally. The cost will be the An Post fee plus a 15% handling fee.
The Non-Residents Package is company formation package and is not a subject to renewal cost. However, there are renewable services within the package if selected: Registered Office Address Service, Company Secretary, Nominee Director or Nominee Shareholder as well as the following agreements if nominee services are used – Declaration of Trust and Power of Attorney. If none of the additional service have been selected, Year 2 renewal cost would be €200+VAT (Registered Office Address)
Yes. Irish companies is partnered with top Irish financial institution to offer the best corporate bank accounts to our customers. It is relatively straightforward to open a bank account in Ireland however, there are several due diligence requirements which may vary from bank to bank including:
1, You must provide evidence that you are doing business in Ireland and you are not going to use your business bank account for purposes such as tax evasion or savings.
2, You should have an Irish market or the intent to create customers in Ireland
3, Banks require all shareholders to present themselves in person in their chosen branch to satisfy due diligence requirements. You must present Photo ID and two forms of proof of address. (please note that these two addresses must be identical) Proof of address should also be 3 months old or less.
Yes. The main advantage of opening your business using Irish Company is that we provide ongoing support, assistance and advice 24/7.
We are not chartered accountants and only provide company formation services so we cannot prepare and file a company’s annual accounts. We can provide a free introduction and consultation with our partner chartered accountants firm in Dublin . This free consultation can be carried out by skype, telephone or face-to-face at the accountant’s Dublin offices. Fees should be agreed directly with the Accountants.
The only additional costs, over and above the cost of the Non-Residents Package will be the An Post postal charges (plus 15% handling fee) incurred in forwarding your mail.
The purpose of the nominee shareholder is to uphold client secrecy by shielding the actual owner of the company from being publicly associated with that particular offshore company. All direct shareholders of an Irish company are visible on the website of the Registry of Companies and such information is in the public domain. For confidentiality purposes it is possible for the said shares to be held by a nominee individual or a company. Irish Company provides this service to our customers and you could add this service to your cart after you have purchased our non-resident package
Yes,we do. We have a number of professional Irish and EU/EEA resident vetted directors who could be integrated into any type of corporate structure you are planning to set up. You could add this service to your cart after you have purchased our non-resident package
It might be possible to open a business bank account in Ireland for a foreign corporate entity. However, as the rules are complex and depend on the specifics of each case, you’ll need to discuss it with your chosen bank first.
Exactly what documents you need to open a business bank account in Ireland will depend on the type of account you choose. If you’re a partnership, you’ll need to provide documents relating to all beneficial owners or those with a 25% share (or more). If you’re a limited company, you need a mandate form signed by all directors to confirm they agree to the opening of the account.
- Two forms of ID, including a photo form such as a passport, for the individual opening the account.
- A valid bank mandate form, confirming that you have the authority to open an account on behalf of the business
- Signature samples for anyone with authority to use the account
- Constitution, and Certificate of Incorporation – limited company only
- Evidence of Partnership – if you’re applying as such
- Certificate of Business Name – if applicable
- If you’re a new customer you may need to provide evidence of your banking history (recent statements) to prove you’re reliable and a good risk.
- Opening deposit
In some cases you’ll need to bring original documents to the branch to open the account, in others, copies will be accepted.
Non-residents are entitled to open a bank account in Ireland. If you have a business which isn’t registered in Ireland then you should contact your bank directly and ask if they can help you. Whether or not they’ll allow you to open an account depends on where your business is registered, and the type of legal entity it’s.
Most banks ask for you to visit the branch nearest you in person to present your documents. You might be able to visit a branch of the bank in your home country if you choose a global banking brand.
There are many agencies who will help you open a bank account for your company, but they’ll still require you to attend a bank in person.
Although you can start the process to register your bank account online, you usually need to go to a branch to show original documents before your account will be opened.
Under some circumstances, the Bank of Ireland can allow sole traders to open their account without visiting a branch
Ireland has a sophisticated banking system, so you’ll have plenty of choice when it comes to business accounts. If you already bank with an international institution, then they might have a subsidiary in Ireland. This could make it easier to get started in the process of opening your account.
If not, then choose one of the larger, more established local banks such as these:
Bank of Ireland
Bank of Ireland has several business banking options, including products aimed at businesses that are just starting out. If you’re a sole trader you may be able to apply online and complete the process over the phone. If you’re applying for an account for a partnership or limited company you’ll need to visit a local branch.
Allied Irish Banks
Allied Irish Banks (AIB) split their business bank accounts by the age and size of your business (for example, whether you have an idea, a startup or an established company), and sector. This means that there’s plenty of choice of business accounts. As one of the ‘Big Four’ in Ireland, you’ll also find a good branch and ATM network at your disposal.
Business bank accounts at Ulster Bank are offered fee free for up to two years for new customers. Applying is simple, with an initial online application form followed by a meeting in branch to show your documents. The documents you need to gather are set out clearly online, depending on the type of company you run and account you want.
Permanent TSB offers business current accounts and other products such as loans and overdrafts. To open an account you’ll need to call into your local branch. There are 92 branches to choose from, and you’re advised to set up your account in the one closest to you.
Banking fees and charges
Before you open your business bank account in Ireland, it’s important to read the terms and conditions carefully – especially the section on banking fees and charges. Don’t forget that the charging structure might be quite different to what you’re used to.
It’s common to find monthly account handling charges and fixed fees for banking transactions. In some cases, a certain number of transactions can be carried out for free every month, with fees applied after that. Even when these admin and transaction fees look small, they can build up over time.
Even new, and smaller businesses often need to make international money transfers – for example, to pay suppliers based overseas. This can be a costly exercise so it’s worthpaying special attention to the fees applied by your bank when you move money or make direct payments between accounts using different currencies.
IrishCompany could assist with Irish bank account opening through providing a nominee director which will apply for the bank account on behalf of the company.