9 steps to incorporating in Ireland
International investors planning on incorporating an Ireland company are able to tap into a range of incentives which encourage foreign investment. Ireland was ranked 25th in the world in the 2016 World Competitiveness Report, in part due to the generous support for companies investing in research and development (R&D). Some of the salient points of setting up an Irish business are outlined below:
- Prior to company incorporation, our Client i) settles Healy Consultants’ fees, ii) signs and returns our Client engagement letter and iii) provides us all the required due diligence documents;
- Healy Consultants drafts a detailed engagement project plan, mapping out by week each step to engagement completion, optimizing transparency and setting Client expectations;
- Our Client Checks the availability of their preferred company name here for Healy Consultants to reserve the same with the Irish Company Registry Office (CRO) and prepares the company constitution (memorandum and articles of association). Thereafter the optimum Irish business entity, exact corporate structure is agreed with our Client. At this stage, our Client must also advise Healy Consultants if they i) require a nominee director resident in the European Economic Area (EEA) or ii) agree to deposit a €25,000 bond with the Irish government to appoint a non-resident director. For more information, read Section 137 of the 2014 Irish Companies Act;
- Healy Consultants completes Form A1 and submits a detailed business application to the Companies Registration Unit including i) a copy of the shareholders and directors’ diplomas and resume ii) a certificate of non-bankruptcy or a statement of solvency under oath before a notary iii) the documentary evidence of the applicant’s respectability, e.g., a police report and iv) details of where the business will operate from. Healy Consultants provides our Client an Irish business address for invoicing purposes. Additionally, many Clients request additional virtual office services including telephone, fax and email support for their company following entity establishment;
- Business permission is applied through the Business Permission Unit of the Immigration Division of the Irish Naturalization and Immigration Service;
- Healy Consultants assists our Client open a multi-currency corporate bank account with an Irish bank. Our Client deposits the paid up share capital of €100,000 and supplies Healy Consultants with a certificate of deposit and bank statement;
- Subsequently, Healy Consultants assists our Clients for income tax and VAT registration by completing and submitting Form TR2 with the Office of the Revenue Commissioners;
- If required, Healy Consultants will assist in applying and obtaining Irish employment visas from the Department of Jobs, Enterprise and Innovation for our Client and any non-EEA employees that will relocate to Ireland;
- Following engagement completion, Healy Consultants couriers a full company and banking kit to our Client, including original Irish corporate documents, unopened bank correspondence, internet banking access and a Client feedback survey.
