10 steps to Irish LLC incorporation in 2021
Setting up a new business entity and opening a business bank account in Ireland is straightforward. Our Client is not required to travel to Ireland. Within 10 weeks, Healy Consultants Group PLC will complete your Irish business set up. The main steps for Irish company incorporation include:
- Healy Consultants Group PLC and the Client agree on the optimum corporate structure, including: i) shareholders and directors, ii) accounting and tax considerations, iii) licensing requirements, iv) paid up share capital and v) city centre business address.
- To swiftly complete company registration and open the multi-currency corporate bank account, we recommend our Client keep the corporate structure simple. For example, one shareholder, director and bank signatory.
- Immediately thereafter, our team crafts a quality detailed project plan (click link) and reserve the company name with Companies Registration Office (CRO).
- Each Irish LLC must appoint a resident company secretary and at least one director who is ordinarily an EEA resident. Most of our multi-national Clients appoint Mr. Aidan Healy (click link) as the legal company secretary and professional passive Irish nominee resident director for their Irish LLC.;
- Ireland imposes strict rules on business names. Even slightly similar company names can be declined by the Government. Healy Consultants Group PLC will tenaciously secure the Irish company name reservation for our Client.
- Healy Consultants Group PLC emails our Client the legal forms for company incorporation. Unfortunately, the Constitution form must be printed and pen signed by each shareholder and director. The original signed document is to be couriered to our Irish office. Form A1, on the other hand, can be completed online on the CORE portal.
- In some cases, the Irish Registry may request foreign parent company documentation to be translated, notarised and apostilled. Healy Consultants Group PLC will then advise our Client exact procedures.
- Original signed documents to be submitted to and only accepted via physical courier to CORE. Within five business days, the Irish Government will email us a certificate of incorporation.
- As evidence of legal company registration, Healy Consultants Group PLC will courier to our Client the original company documents, including M&AA and certificate of incorporation.
- To ensure company formation takes place without delay, Healy Consultants Group PLC and our Client to ensure i) shareholders’ and directors’ names match those in their passports ii) signed company documents are accurately and completely signed and iii) notarized and apostilled copies of parent company documents are properly prepared.
- Healy Consultants Group PLC registers our Client’s company with the Irish Revenue Department for corporation tax and VAT.
- Our Client signs-off original corporate bank account forms and couriers to our Irish office. Securing multi-currency corporate bank account approval in Ireland is slow; because the economy is strong and demand for bank services is high. The bank’s in-house Legal and Compliance Department is slow and inefficient. Approvals are within 8 weeks.
- The bank headquarters will mail the e-banking passwords to our Irish office. Before the passwords expire, and with our multi-national Client’s permission, our CFO logs into e-banking on their behalf and activates the platform. We then promptly courier a secure package to our Client for their e-banking access and change of user access and passwords.
- Within a month, to avoid monthly bank charges, our Client deposits the minimum multi-currency amount into the corporate bank account.
- To help our multi-national Clients accurately and completely sales invoice their customers, Healy Consultants Group PLC creates a template sales invoice on our Client’s headed stationery including i) company number and ii) city centre business address iii) VAT number iv) corporation tax number and v) multi-currency corporate bank account coordinates.
- Healy Consultants Group PLC will help our multi-national Clients secure Government grants and tax benefits for their new Irish business set ups.
- 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.
- Healy Consultants Group PLC assists our multi-national Client with their monthly and quarterly Government reporting, including VAT and payroll.
- Healy Consultants Group PLC also supplies our multi-national Clients’ with these free value-added business support services;
- In year 2, our Client supplies our in-house Accounting and Tax Department with a trial balance. Healy Consultants Group PLC prepares financial statements and corporation tax returns for our multi-national Client’s e-signature.
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.