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Costs & Diligence For Setting Up A Company In Ireland

By Author: Neville Murphy
Total Articles: 11

If you wish to incorporate your company, you can do it within a span of 2-3 days, in the simplest of procedures and affordable most cost, which includes applying for Company Registration, an initial Government license fee, a standard Government fee, tax registration and issue of shares among others. Apart from these liabilities you may require additional costs such investing in a company secretary— that may be handled by a director, to curb costs; a company seal and costs of Annual Return filing.

Here is a list of costs you are entitled to bear, when you are setting up a company in Ireland.

Things You Need To Pay For Company Formation In Ireland

Company Registration
Corporation Tax & VAT Registration + Taxation (startups incorporated after 14th October 2008 are exempted from tax for up to 3 years, under Section 486C)
Company Secretary
Office Address Registration
B1 Annual Filing

Other than the common costs, there may be additional costs for company limited by Guarantee, application for PAYE or PRSI apart from the Corporation Tax, Non-Resident Bond, hiring a Bookkeeping & Accounts manager. If it comes to the fact that secretary and company bookkeeper is handled by a director, they can curb the extra cost.

Document Constitution

The constitution is a single document that every private limited company incorporated under the Companies Act 2014, has to draft. This constitution must include, articles of association. That can engage with any permissible business as per the Schedule 1 to the Companies Act 201. Company types other other than a Pvt. Ltd. will also have to include a Memorandum along with the articles of association so that’s two document constitutions.

NON-Residential Bond

For all company directors living outside of the EEA, they require to fulfil either of two regulations- have an EEA resident company director, or sign up for a Non-Resident Directors Bond, that’s worth €25,000.

Hiring A Company Formation Agent In Ireland

If you are new to business making, then it may be  cost effective resort to rely on a reputed company incorporation agent, or agency that can comprehensively attend and assist the entire process in a hassle free way. You can actually make bespoke packages, and pay for the things you need. This way you can conduct your incorporation smoothly and concentrate on your business process harmoniously.

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