10 steps to incorporating in Ireland
The procedures to set up a new company and open a new corporate bank account in Ireland are straightforward and can be completed in five weeks. Our Client will not be required to travel to Ireland as our local agent will complete all procedures on his behalf. In brief, the steps for starting business in Ireland include:
- Consultation: Healy Consultants and the Client agree on the following: i) proposed business activity and license; ii) availability of company names (in order of preference) and iii) share capital requirements;
- Name reservation: Following formal engagement with Healy Consultants, a dedicated relationship manager will do a business name search with the Companies Registration Office (CRO) to confirm availability of our Client’s preferred ones. If available, we file a Form RCN to reserve the name for the Client’s company;
- Appointing resident directors: Companies in Ireland are required to appoint at least one director who is ordinarily resident in the country. If possible, our Client provides us the passport copies and address proofs for their proposed directors. Alternatively, we provide our Client our professional Irish nominee director services.
- Document preparation: We prepare i) memorandum; ii) board resolution and iii) director/shareholder consent forms. In addition, we prefill Form A1 and all other required forms and email them to our Client for signature or e-signature;
- Company Incorporation: Once we receive all the documents, we submit the same to the CRO in order to complete the incorporation of the new company. The company will be registered within five business days, after which we email the certificate of Incorporation (COI) to the Client.
- Tax registration: We register our Client’s company for corporate tax by completing and submitting Form TR2 with the CRO;
- Corporate bank account opening: As a next step, we open a local corporate bank account with our Client’s prefered bank. Our Client will need to sign-off original corporate bank account forms and courier to our agent in Ireland. We work with internationally recognized banks including HSBC, SCB, and local banks such as Bank of Ireland and Ulster bank. Immediately after bank account opening, our Client deposits the initial share capital of the company (if any);
- Internet banking activation: Following corporate bank account number issuance, we request the bank to activate internet banking and issue tokens to the company’s directors. We expect this process to be completed within a business week;
- Support services: Our Client often requests us to supply additional services including i) securing multiple employee visas ii) locating office premises and iii) registering trademarks;
- Engagement completion: The Ireland engagement is now completed. We courier a company kit to our Client, which includes the company’s original corporate documents, unopened bank correspondences and a Client feedback survey.
Frequently asked questions
Is a company secretary required for Ireland business incorporation?Yes. A company secretary will be required when our Clients incorporate an Ireland company.
What is the share capital required for incorporating a company in Ireland?When incorporating in Ireland, we advise our Clients to deposit €100,000 as share capital.
What Ireland incorporation services can Healy Consultants offer my firm?As Ireland incorporation service providers, Healy Consultants will assist our Clients with i) incorporation ii) business license registration iii) immigration solutions iv) employment strategies v) business banking solutions and vi) office rental/ virtual office setup and vii) tax planning.
Our experts are Ireland incorporation specialists and will send our Clients weekly updates till engagement completion.
What are the usual timelines to establish a company in Ireland?Ireland incorporation process will take 11 weeks for completion, including opening a corporate bank account.
Can I fully own my company if I incorporate in Ireland?Yes. There are generally no limitations on foreign ownership of Irish companies.