10 steps to incorporating in Ireland
The procedures to set up a new business entity and open a fresh corporate bank account in Ireland are straightforward and can be accomplished in five weeks. Our Client will not be required to travel to Ireland as our local agent will complete all procedures on his behalf. The main steps for incorporating a business in Ireland include:
- Consultation: Before starting off with Ireland company incorporation, Healy Consultants and the Client agree on the following: i) settling the requisite fees for engagement, ii) proposed business activity and license, iii) availability of company names (in order of preference) and iv) share capital requirements;
- Name reservation: A dedicated relationship manager from our team would thereafter perform a business name search with the Companies Registration Office (CRO) to confirm the availability of our Client’s preferred names. 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 one secretary and at least one director who is ordinarily an EEA (European Economic Area) resident. If possible, our Client provides us with the passport copies and address proofs for their proposed directors. Alternatively, we provide our Client our professional Irish nominee director services.
- Document preparation: Our Firm prepares the i) memorandum of association, ii) board resolution and iii) director/shareholder consent forms required for submission of the Ireland company setup applications with the CRO. In addition, we prefill Form A1 on behalf of our Client 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 to complete the incorporation of the new company. The company will be registered within five business days, after which we immediately 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: Subsequently, we open a local corporate bank account with our Client’s preferred 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 services 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 and we gladly assist them in the same;
- Engagement completion: The Ireland engagement is now successfully completed. We dispatch 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.