Multi-national Client sets up a business in Ireland
Our Client is a company specialized in creating, manufacturing and distributing the best blends and richest essential oils worldwide. Healy Consultants Group PLC already set up several companies for our Client. In March 2015, our Client decided a company in Ireland would allow them serve the European market efficiently.
Before Healy Consultants Group PLC commenced Irish business set up, our Client i) signed our engagement letter and ii) provided the required due diligence (click here). Thereafter Healy Consultants Group PLC prepared a detailed project plan that mapped out step by step the 5 week Irish engagement.
While agreeing the optimum corporate structure, Healy Consultants Group PLC informed our Client re i) legally minimizing international tax and ii) every Irish LLC must appoint a resident director who is either a EU citizen or a foreign national with a valid residency permit. Our Client could not supply a resident director. Consequently, Healy Consultants Group PLC provided our Client an Irish passive nominee resident director. Our nominees do not play an active role in the business.
The process of incorporation was quick and straightforward and within 1 week we provided our Client with i) a certificate of registration, ii) a lease/agreement for an Irish company city center business address iii) the Memorandum and Articles of Associations iv) share certificates and v) the registers of director and shareholders.
Corporate bank account
After discussing the different banking options, our Client chose to open a corporate bank account in Germany and London. We communicated with our preferred bank officers to agree the multi-currency corporate bank account opening strategy. Thereafter we filled the corporate bank account forms with the information we had on hand and sent them over to our Client for review, signature and courier return; The bank also requested us to notarize the Irish company documents. Healy Consultants Group PLC also prepared a detailed business plan to optimize the probability of successful corporate bank account approval.
Within 3 weeks, the bank provided our Client directly the corporate bank account number and within 2 additional weeks, the banks couriered the complete welcome package to our Client’s preferred address in USA. The welcome package included the internet banking tokens and ATM cards.
Healy Consultants Group PLC successfully completed the engagement one week ahead of schedule. We couriered a quality complete company kit to our USA Client preferred address, including a Client questionnaire.
Following completion of the above, our Client appointed Healy Consultants Group PLC to complete monthly bookkeeping reporting to the Board of Directors. We also timely complete our Client’s annual legal, accounting and tax obligations.