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How to Set up A Company In Ireland

How to Set up A Company In Ireland in 2023?

Ireland is located in the northwest part of Europe or the North Atlantic Ocean and is considered a top-notch business destination by most business people and traders worldwide. Limited liability, tax efficiency, and a separate legal entity are why Ireland is a dream trade country for the people.

If you are wondering how you register a startup company in Ireland, here is the process described, and we made it simpler for you. First, you should decide the form of company you want to set up, and then choose the director, company secretary, business address, etc., for your new company.

Types of Irish Companies:

If you want to open your Company in Ireland, first you should know the type of companies in Ireland. It is important to decide which type of company you want to open for yourself and start your business there.

Private limited companies, designated activity companies, public limited companies, companies limited by guarantee not having a share capital, and establishment of the external company are common types of companies in Ireland.

· Private company limited by shares:

Do you think what is a private limited company in Ireland? One of Ireland’s simplest and most common types of companies is the private company limited by the shares. The member’s liability is limited if the business bears any losses. The maximum number of members in this type of company can be 149 and not more than this.

A private limited company is a single director company Ireland, but it is mandatory to hire a secretory. LTD is very flexible in its activities.

· Designated Activity Company:

A designated activity company consists of two documents constitutionally consisting of a memorandum and articles of association. It is a must for DAC to have the main object clause included in the constitution, which restricts the activities of the company. It also has limited liability.

A designated activity company should have at least two directors and a company secretary. The maximum number of members is also 149.

· Company limited by guarantee (CLG)

A CLG is a public company type in Ireland. Members’ liability is also limited to the amount they have shared in the company asset. Moreover, the activities of a company limited by guarantee that does have a share capital are limited to its object.

Also, a CLG company should have at least two directors and a company secretary. The charities and the professional bodies usually incorporate as a CLG.

· Public Limited Company:

A public limited company can have shares listed on a stock exchange and offered to the public. A public limited company has one member and no maximum members limit. A public limited company has two directors and a company secretary, just like the other company types.

· Establishment of an external company (Branch):

The establishment of an external company is a branch of the foreign company, and it must register with the Irish Companies Registration Office CRO within 30 days of its establishment in a state like Ireland.

When the company is done with the registration process, it needs to file an annual return every year with the financial statements of its parent company within 30 days. The external company is also required to reflect the changes in the company’s main branch, which means any changes in directors, share capital, etc.

How to Incorporate A Company In Ireland?

The process may be time-consuming and hectic if you consider registering a limited company in Ireland. To start any new business in another country where you are new, you need to do a lot of research. We have done all the research for you to make it easier for you so you can work on your business only.

The company incorporation in Ireland requires steps to be followed, including choosing the director, secretory, and company name. It also includes having at least one Shareholder, a registered office, and a business address, preparing and signing the important documents, ordering the company seal, and filing the beneficial owners.

1) Director of The Company:

Do you want to set up a company in Ireland, you require at least one director. Usually, the company director is responsible for managing the company tasks on behalf of the company’s shareholders.

All the companies need at least one director who should be a resident of an EEA country. You can still run a company if the directors are non-resident, but you must buy a non-EEA resident bond.

Remember that non-EEA resident directors can open an Irish company without even buying this non-EEA resident bond if one of your directors lives in any EEA state. It means that the company needs two directors, out of which one should be within EEA.

2) Choose The Company Secretary:

The next step is to choose the company secretary. One can act as your company’s secretary if your business has more than two directors. The company secretary’s main responsibility is to file annual returns.

The company’s secretary will work with the accountant to ensure that the financial statements are filed on time. It is important to hire a secretary because they play an important role because filing the annual return late can harm you fine and create other issues for you.

3) Have at least On Shareholder:

For setting up a company in Ireland, you should have at least one Shareholder. The shareholders of the company are the owners of the company. Nowadays, it is common in new companies for the secretary and directors to be the company’s shareholders. For some company types in Ireland, your business can run on a single shareholder, while others require multiple shareholders. It depends on the company type that you choose for your business.

4) Choose how many shares you want to release:

The next step is to decide th number of shares you want to release. These shares are the pieces of your business you are willing to give away. So the division of the shares determines the ownership of the company.

The shares are issued when you are setting up a Limited Liability Company. Once your business has been registered officially, you can also issue more or transfer the issues.

5) Have A Registered Business and Office Address:

Registered Office Address:

A registered office address is the legal and official address of the company. It should be a physical location in Ireland to be monitored regularly. A registered office address is mandatory as all the important notices are sent to this address.

Business Address:

A registered business address is where the company’s business emails are sent. It is also important because if someone runs an online business, they may not want to share their home address, so they need a business address for this purpose.

6) Choose a Name for Your Company:

Choosing an attractive company name is very important. The name of the company should reflect the business you are working on. You must not copy any other company’s name; your company name should be registered at CRO, companies registration office.

7) Prepare and Sing The Documents:

You are ready to incorporate your business when you finish the abovementioned steps. You have two options:


    • You can set up a company via an online agent.

    • You can also consult a company specialist.

 The Requirements For a Company In Ireland

If we talk about limited company requirements in Ireland, there are two main things that you need to consider; personal information and the authorized and issued share information. See it below:

· Personal Information:

Personal information is the most important thing you require to set up a company in Ireland. The personal information includes the name, residential address, occupation, nationality, and date of birth of directors and shareholders. You will also need your ID and proof of address.

· Authorized and Issued Share Information:

It means the share ownership structure of your business, and you need it to set up a new company in Ireland.

8) Order You Company Seal:

Now that you are done with all the steps and have opened your own Company in Ireland, it’s time to order your company seal. It will work as an identification mark for your company. The seal has the company name engraved and is used to seal the documents.

9) File The Beneficial Owner:

All the companies in Ireland need to register their beneficial owner (anyone with 25% or more of the business share on the RBO website. The company’s shareholders should have a personal public service number PPSN for this registration process.

Remember that it will be considered a crime if you don’t complete the RBO registration, and they can charge you with a fine or conviction. Also, most Irish banks will not allow you to open a business account if you don’t complete the registration process.

10) Register for Tax:

It is not because you still have to register for tax before starting trading and other services. The accountant of your company usually carries out the tax registration process. The types of taxes you need to register for are:


    • Corporation tax

    • Value added tax

    • Relevant Contracts Tax

    • Employers PAYE

11) Set Up a Business Account:

You can’t think of opening a limited company in Ireland without opening a business account there. For this, your company’s director needs to meet face-to-face with the bank representatives, or you can set up your bank account through an online procedure.

12) File Annual Returns:

Next, you must file annual returns with the company’s registration office CRO. All the companies have an annual return date that you can check using the CORE company search facility. After six months of the company incorporation, the first annual return is due, and you don’t need any financial statement.

The company has 56 days to complete the process of annual return, and keep in mind that you will be charged a heavy fine if you miss this step.

13) File a Directors Income Tax Return:

Now you have to file a director’s income tax return. The directors should file a self-assessed directors tax return annually before the 31st of October. The income tax return should be done even if the company director only has employer income or the company has not traded.

You must file a director income tax return even if your company has not yet made any money or trade. Again, if you don’t follow this rule, you will be charged a fine, which would be obligatory to pay.

14) Local Employees or Immigration Options:

Ireland is a top-class business destination due to its highly educated and skilled workforce. And this talented workforce is expensive to be hired in your company. In Ireland, there is an employment law that states the process. It also includes the allowed hours for employees to work per week.

A person who is not an EEA resident should apply for a work permit. The work permits are of various kinds, which include critical skills employment permits. It is for adept workers in fields of the shorter workforce in Ireland. Some other types f work permits are general, internship, partner, or family work permits.

Pros and Cons of Setting Up a Limited Company In Ireland

So let’s discuss some advantages and disadvantages of setting up a limited company in Ireland, as everything on this planet has some advantages and disadvantages as well:



    • Limited Liability:

When opening a limited private company in Ireland, you need at least one Shareholder. These shareholders have limited liability for the debts of your business. The owners or shareholders of the company will be only responsible for the invested amount and not the debts.


    • Tax efficiency:

If you set up a limited company in Ireland, the company can claim some expenses of the company to get a discount on the tax it has to pay. This way, your company will pay less tax than the actual amount. 


    • A separate Legal entity:

The limited companies of Ireland can enter certain contracts because of the separate legal entity. It will give the company protection from its shareholders.


    • Increased investment:

The Irish limited companies can raise the investment. They can do this by selling the company’s shares to its investors.



    • Cost:

The cost of setting up a company in Ireland is one of the biggest disadvantages of opening a company in Ireland. It is so because a new Irish company is more expensive than that running a partnership business.


    • Complexity:

Private limited companies are more complex to start and run than you think because you have to fulfill many requirements, rules, and regulations.


    • Duties:

Of course, running a company is not an easy job as you have a lot of responsibilities on your shoulders. You have duties like filing annual returns, seeking legal advice from contracts to boardroom disputes, and the list goes on.


    • Public Information:

Private limited companies must file information with the company’s registration office, which is then shared with the public. The information is in the form of the names of the shareholders and directors and your company’s financial information.

Why To Choose Company Formation?

Company formation is a procedure to register your business as a limited company through the company registration office. Completing the company formation process will turn your business into a completely independent entity, which would also be legal.

Another advantage of this company formation is that if your business doesn’t become successful, the limited company is structured to separate you from your finances.

As we know that there are several forms of limited companies in Uk but most of these companies are limited by shares. It means that the ownership of the business or the company is shared among members called shareholders.

However, the government or the country does not make it necessary for you to form a limited company. You are free to do your sole trader business as well. But most traders choose to form a limited company under the law to make it safe and protected.

Frequently Asked Questions

How much does it cost to set up a limited company in Ireland?

The cost of setting up a limited company in Ireland is about  €50, the filing fee for registering your new business application. So It means you may have to pay more than this in taxes, etc.

What is a limited company in Ireland?

A private company limited is a type of Company that Is limited to the number of members. It can have 149 numbers of members. Not only this, but a limited company in Ireland can only have one director as it chooses.

How much time is required to register a company in Ireland?

The company registration process in Ireland normally takes five weeks, from the application submission for the business name to the certificate issuance. The certificate will be issued by email.

What is a certificate of incorporation in Ireland?

The certificate of incorporation is proof that your company has been legally registered in Ireland. It will include the company name, company number, act, etc. When your company is legally incorporated or registered, you can start your business, trading, or whatever your company is for.

What is a public company limited by shares?

A public company limited by shares is a company that offers shares of stock to the country’s general public. Note that the buyers of the shares have access to limited liability. It means that the company’s shareholders will not be responsible for any losses in the business over the amount they have invested.

What you need to open a bank account in Ireland?

To open a business bank account in Ireland, you require proof of your identity and the verification of your address. Also, if you want to open a joint account, both applicants must fill out the application form and show two documents for identity purposes.

Is it easy to start a new business in Ireland?

Usually, starting a new business in Ireland is not that complicated and time-consuming; you can start your business in Ireland as a sole trader, partnership, or limited company. Also, you can set up your business in as low as two to four days through the company registration office in Ireland. You must remember that there are some steps you need to follow, or you can’t start your business there otherwise.

What do I require for setting up a small limited company in Ireland?

If you want to set up your small business in Ireland, you should follow these requirements:


    • Marketing opportunity

    • Investment requirements

    • Entrepreneur’s experience

    • Business objective

    • Raw material requirement

    • Staff

    • Business Entity

    • Business Licenses

Do I need to pay taxes for my small business?

If your company or small business is a limited company type, you will have to pay corporation tax on the profit earned from trading and the sale of assets of your business. Currently, the tax rate is about 19%. While setting up your company, don’t forget to register for the tax; otherwise, you will also have to pay the penalties.

How to start a small business without an idea?

That is how you can start a small business in Ireland:


    • Think of what you are passionate about

    • Research the smart

    • Set your financial goals

    • Market your business

    • Build an audience

    • Launch your business in the market.


If you are wondering how to set up a new company in Ireland as a foreigner, you don’t need to panic because, in this article, we have mentioned the whole procedure for you. First, you must choose the company type, the secretory, director, the business address, open a business account in an Irish bank, order your company seal, etc.

Once your company has been incorporated legally, you can start trading and running your newly set business in Ireland. Limited liability, tax efficiency, and increased investment are the pros of starting a business in Ireland. Whereas complexity, responsibility, and cost are some cons.