How To Set Up A Company In Ireland? - Everything You Must Know

By Author: Ireland LSC Partners
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In the past decades, Ireland has evolved to a preferred country for multinational companies to locate their European headquarters /operation centers. Ireland has become a popular place for many companies to establish themselves because of the availability of skilled workers, favorable tax systems, and the opportunity to tap into the larger market of the EU. Here is a brief guide on all you need to know and the entire process of Set up Company in Ireland .

Choosing a Business Structure

One of the first few choices that one has to make when planning to form a company in Ireland is the legal entity under which it is to be registered. The most common options are:

Private company limited by shares - It is also known as limited liability company and is the most common legal type for start- ups and SMEs controlled by foreigners in Ireland. It restricts the extent of owners’ risk and provides for equity participation.

Public limited company (PLC) – While it is restricted by more regulations, you can sell shares ...
... to the public. Most suitable for large and well-established organisations.

Sole trader and partnership - They are business forms with limited complexity and unlimited liability. More suitable for such companies with fewer numbers of owners in terms of operations.

Every structure has its own conditions as to registration documents, yearly filings, costs of compliance, rules on ownership and taxes. Seek advice from professionals in order to determine the right one for your business strategies.

Registering Your Company

The primary steps to register a new company in Ireland are:

1. Select a company name that none else currently uses and make sure that it is reserved.

2. Submit incorporation forms as well as the company constitution to the Companies Registration Office in Ireland.

3. Appoint company officers as directors and a company secretary.

4. Ensure key compliance factors such as share capital, registered office in Ireland, return of directors, etc. These tasks can be smoothly handled by specialist legal firms.

5. You have to be legally compliant by registering for certain taxes like Value Added Tax (VAT) and corporation tax.

It is however legal for a company to incorporate on its own but most foreign entities seek the services of CSPs in Ireland to assist them with the process and compliance.

General Advantages of Registering an Irish Company

Here are some of the main advantages to Set up Company in Ireland that attract international firms:

● Concessionary of 12.5% on corporation tax
● Trade with other European countries and access to the EU trade networks
● skilled and literate English speaking population and a generally friendly business climate.
● Information and information rights

If your business is considering an EU base to gain access to new markets, then Ireland has many requirements fulfilled. Please contact us to speak to one of our experts regarding the establishment of an Irish subsidiary or branch. This we do from the incorporation of the company to its operation. Contact us today to learn more!

LSC & Partners offers business consulting and accounting services internationally. Clients are given a rich source of local experience compounded by our vast network of contacts around the world. Through cooperation with LSC & Partners, clients will be confident in receiving individual attention from specialists who have both domestic and international experience.

LSC & PARTNERS provides a broad range of business recommendation and accountancy services across the globe. Our international network is a precious resource and accessible to all our clients. When working with LSC & PARTNERS, you can be certain that the work will be carried out by dedicated professionals with local and global expertise.For more details to know,visit www.ireland-lsc-partners.com