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Understand the Jurisdictions Setup Requirement Before Proceed Your Ireland Company Incorporation Services
Many view Ireland as the ideal gateway to access the mega European Union and the world market. Separated from Great Britain to its east by the North Channel, the Irish Sea, and St George’s Channel, Ireland is one of the European nations that has a modern economy, focusing on services, high-tech industries, trade and investment.
Companies like IBM, PayPal and Ericsson have been based in Ireland for many years, and are among the many companies who have continued to invest in Ireland. Other than the strong economy and good investment climate in Ireland, the ease of doing business in this country is one of the most-valued reasons.
As we can see, there are lots of advantages and benefits to setup a company in Ireland, instead of overseas marketing. Before we get into the procedures of company incorporation, you may want to know what types of Irish company available. A Private Limited Company is the most common form of Irish company incorporation for people wishing to a start business in Ireland. The main types of company formation Ireland can be categorised as follows:
- Private Company Limited by Shares (LTD)
- Designated Activity Company (DAC)
- Company Limited by Guarantee (Non-Profit Company)
- Unlimited Company
- Limited Partnership (LP)
- Public Limited Company (PLC)
What are the Incorporation Requirements for an Irish Limited Company? The main incorporation requirements are as follows:
- Company name must be approved by the Registrar of Companies
- A registered office address within the state is a must-have for every Irish company
- All Irish companies must register for corporation tax.
- A Private Company Limited by Shares may have a single director if desired, but in this case, must appoint a separate secretary.
- Every other type of Irish company must have at least two directors where one should be an EEA resident or alternatively a company may dispense with this requirement by placing a bond to the value of Euro 25,394.76 with the Company Registry (2 Directors still required though) Premium for Bond is EUR1957.
- Every company must have a Secretary( who may also be a Director). A Corporate Secretary is permissible
- It is possible to have a “Single Member Company” whereby all shares are held by the one person/company. The Maximum number of shareholders for a Private Limited company is ninety-nine.
If you are thinking of setting up an Irish company, 3E Accounting is ready to help you with our professional company incorporation services. Contact us today at email@example.com and let’s work out the best solution for your business.