Your quick guide to setting up in Ireland

December 13, 2018
Stefan Focas
New Markets

Whether you’re based in Ireland, and you’re interested in setting up a business, or you’re currently trading overseas, and you’d like to expand into Ireland, there are a few things you need to know.

In this brief guide, we’ll cover the practicalities, necessities, and idiosyncrasies of setting up a Limited Company in Ireland. This will include the key legal requirements, the steps you need to take, and the headaches you might encounter.

Key legal requirements

When setting up in Ireland, you must adhere to the following requirements:

1. Directors

A minimum of one director is required when setting up a Limited Company in Ireland. You must also have a director who is a permanent resident in the EU.

Directors cannot be undischarged bankrupt, or convicted of any malpractice.

2. Shareholders

A shareholder can be a person, or a legal entity. You can have anywhere from 1 to 149 shareholders, and there is no requirement to have a resident shareholder.

3. Company Secretary

You must have a Company Secretary who is experienced with the statutory requirements. If you only have one director, they cannot also act as the Company Secretary.

4. Paid-up Capital

There is no minimum paid-up share capital requirement. You can also have share capital denominated in currencies other than the Euro.

5. Registered Address

You registered business address has to be a physical address. It cannot be a P.O. Box. In most cases, your business address should not also be a residential address.

Company registration steps

Registering a Company in Ireland is done online via the CRO (Companies Registration Office Ireland). Any physical documents, such as the Company constitution, must be lodged with the CRO.

To register, you must follow these steps:

1. Company name must be approved.

2. Company is incorporated.

3. Post-registration formalities are addressed:

Register for Corporate, VAT, and Payroll with the Revenue (Irish Tax & Customs).
Constitution and other Statutory documents are lodged.
A corporate bank account is opened.
Start applying for business licenses.

Common compliance headlines

To comply with the rules and regulations of running an Irish Limited Company, you must do the following:

The first return must be filed with the CRO within 6 months of incorporation.
Annual Returns thereafter must be filed within 9 months of your financial year end.
Corporate Tax Returns must also be filed within 9 months of your financial year end.
Estimated chargeable income should be filed within 3 months of the financial year end.
Financial statements must be audited if 2 of the following 3 conditions are met:
- More than €12M in revenue;
- More than €6M in assets;
- More than 50 employees.