Mongolian investor establishes an Irish holding company for global investments
Our client, a Mongolian seasoned entrepreneur wished to establish a holding company in Ireland after consultations with his lawyers. The holding company was to be utilized for investments in bio-pharmacy, biotech and manufacturing.
Following our initial phone discussion with our Client on i) their intended use of the holding company ii) proposed corporate structure and iii) our engagement fees and timelines, our Client confirmed their interested to proceed with the setup.
- Our Client completed, signed and emailed a scan copy of our engagement letter and settled the first instalment for Ireland company setup and bank account opening.
- Healy Consultants Group PLC advised our Client on the legal requirements including requirement for a registered address, tax number and company secretary. Our Team sent the proposed corporate structure to our Client for approval.
- The Client then provided the due diligence documents in line with our Firm’s compliance and KYC process requirements.
- Healy Consultants Group PLC drafted a detailed project plan mapping out the step-by-step process of Irish company incorporation, tax registration and bank account opening.
- We also drafted a detailed business plan for the new holding company outlining the proposed structure, potential suppliers and customers and the intended business activity of our Client in Europe.
- Healy Consultants Group PLC submits the proposed company names to Companies Registration Office (CRO) for consideration. Unfortunately, all the names provided by our Client were rejected and we reverted to the Client for additional names. Our team then proceeded to reserve our Client’s company name.
- In accordance with Irish Company Law, we appointed our Client’s partner based in Spain as the director who is ordinarily the European Economic Area (EEA).
- Healy Consultants Group PLC emailed our Client the legal forms for company incorporation for signature by each shareholder and director and requested them to email return to us. Thereafter, we submitted the formal application for incorporation to CRO.
- Within 5 business days, we secured the certificate of incorporation from CRO and issued the same to our Client together with the i) share certificates and ii) constitution, for signatures and email return. The Client then settled our second fee instalment.
- During company incorporation, Healy Consultants Group PLC simultaneously contacted multiple global banks to secure their interest in our Client’s business. Fortunately, a reputable American bank expressed interest in welcoming an application from our Client.
- Following company incorporation, our banking team prepared the necessary bank forms including a board resolution appointing bank signatories and emailed to our Client for signatures and email return.
- Thereafter, Healy Consultants Group PLC arranged an online meeting with the Client and the bank to discuss the Client’s intended business and to complete their KYC process. Following which the bank proceeded to finalize their due diligence process and advance account opening.
- Within 3 weeks the bank approved the USD bank account and requested the client to inject the minimum deposit as agreed in their online meeting discussion.
- Healy Consultants Group PLC also prepared the tax registration forms and emailed our Client for review for accuracy and signatures. Thereafter our team submitted the tax registration application to the Irish Revenue Department.
- Within 3 weeks, Healy Consultants Group PLC secured the tax registration number and email the tax certificate to our Client.
- Healy Consultants Group PLC’s the collated all corporate documents including i) Certificate of Registration ii) Constitution and Share Certificates iii) Tax Certificate, and emailed the same to our Client.