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Common Company Legal Structure
Private company limited by shares (LTD):
This is the most simplistic and frequently used company type in Ireland. The members’ liability, if the company is wound up, is limited to the amount, if any, unpaid on the shares they hold. T
Public Limited Company (PLC):
A PLC is permitted to have shares listed on a stock exchange and offered to the public. The nominal value of the company’s allotted share capital must not be less than €25,000, at least 25% of which must be fully paid up
Designated activity company (DAC):
A DAC has a 2 document constitution consisting of a memorandum and articles of association. A DAC must have a main objects clause included in its constitution which will restrict the activities of the company
Branch office
​A foreign company may also establish an external company within the State. Any company that so establishes itself must register with the Irish Companies Registration Office (“CRO”) within 30 days of its establishment in the State
Limited Partnership (LP)
These partnerships have at least one general partner who runs the business and is personally liable for any business debts. The partnership also has at least one limited partner whose input is purely financial and who is only liable up to the amount they’ve contributed.
Company limited by guarantee not having a share capital (CLG):
This is a public company type. The members’ liability is limited to the amount they have undertaken to contribute to the assets of the company, in the event it is wound up, not exceeding a specified amount and subject to a minimum of €1.00
Incorporation process in Ireland
When launching a business in Ireland certain steps must be adhered to throughout the company formation process. For foreign entrepreneurs, particularly those unfamiliar with local laws, seeking legal assistance and representation is highly recommended. The company formation services offered by Yan Incorporation will be extremely beneficial.
Steps for Setting up a limited company in Ireland
Step 1:
Choosing legal formation
Check Irish legal forms to start business above. How you set up your business depends on what sort of work you do. It can also affect the way you pay tax and get funding.
Step 2:
Choosing a company name
Before setting up a company, you must check the available of company name with CRO (Companies Registration Office) at here
Step 3:
Choosing directors
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Your company must have at least one director
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A director must be 18 or over and not be disqualified from being a director
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Directors require to be resident in a member state of European Economic Area (EEA)
Step 4:
Deciding who the shareholders
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You need at least one shareholder. A company limited by shares must have at least one shareholder, who can be a director. If you’re the only shareholder, you’ll own 100% of the company. There’s no maximum number of shareholders
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Step 5:
Prepare documents agreeing how to run your company
You need to prepare a 'memorandum of association' and 'articles of association'.
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a ‘memorandum of association’ - a legal statement signed by all initial shareholders or guarantors agreeing to form the company
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an ‘articles of association’ - written rules about running the company agreed by the shareholders or guarantors, directors and the company secretary
Step 6:
Check what records you'll need to keep
You must keep for your limited company in Ireland:
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records about the company itself
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financial and accounting records
Step 7:
Register your company with Companies Registration Office (CRO)
You'll need to register an official address and choose a SIC code - this identifies what your company does.
You’ll get a ‘certificate of incorporation’. This confirms the company legally exists and shows the company number and date of formation.
Step 8:
Manage your Corporation Tax
A company’s tax accounting period normally coincides with its financial accounting period, except where the latter period exceeds 12 months. Within 9 months of a company’s financial period end (but no later than 21st day of the month), a corporation tax return must be filed with Irish Revenue. Irish resident companies are liable to corporation tax on their world-wide profits.
Branch Office Registration in Ireland
Within the spectrum of legal entities available to operate or invest in Ireland, a branch office is a valid option to access the market with full guarantees. Mixed up often for subsidiary companies, branches are not a separated legal entity to its parent company but an extension to it.
Differences between a branch office and a subsidiary company can be seen below:
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No require founding capital
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No legal capacity in its own
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No local management, decisions are taken by parent company.
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The parent company is liable for all actions or omissions of its branch
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​Branches have similar incorporation requirements to regular private companies​
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Get in touch with us
Contact us today to receive a quotation for our company formation in Ireland. We are here to assist you every step of the way.
Contact
Email: info@yanincorporation.com
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