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Setting up a company in Ireland - 21 things you need to know

Here is a list of frequently asked questions for setting up a company in Ireland. If you can't find the answer that you're looking for you can contact us here.

Experts In Setting up a company In Ireland

 

DO DIRECTORS NEED TO BE RESIDENT IN IRELAND?

No, limited company directors do not need to be residents of Ireland. However, there is a requirement for at least one of the company directors to be an EEA (European Economic Area) resident. Moreover, the nationality of a potential director will not influence this requirement. For instance, an Irish national (company Director) living in the United States cannot be the sole Director of the Irish company. Whilst, it is not a legal requirement – It is advisable to have an Irish based Director on the board of your company for tax residency purposes.

If you are one of the companies with no EEA resident Directors, we can provide you with a Section 137 non-EEA Directors bond or you can also avail of a Nominee Director service for Irish company registration. Our nominee directors are highly regarded in the company secretarial & compliance area by Ireland’s accounting and legal professionals. 

DO I NEED TO VISIT IRELAND TO SET UP A LIMITED COMPANY IN IRELAND?

No, your physical presence is not required in Ireland in order to incorporate a company. Signed application and identity documents can be sent by post in advance of your limited company setup. However, we always like to invite our clients to Dublin or Cork to meet us where possible.

HOW MUCH DOES IT COST TO SET UP A LIMITED COMPANY IN IRELAND?

The price varies depending on the services you require. For setting up a limited company in Ireland, we always try to provide a competitive quote tailored to your individual needs. See below for our 2 most popular company set-up packages.

STANDARD COMPANY SET UP PACKAGE

Standard Company Price €2750

What is included in this company setup package?
  • Company Incorporation

  • Registered Office address in Ireland

  • Annual Return

  • Company Secretary

  • UBO Register & AML

This is everything you need to set up a limited company in Ireland. 

BANK & TAX - COMPANY SET UP PACKAGE

Full service company Price €4440

What is included in this company setup package?
  • Company Incorporation

  • Registered Office address in Ireland

  • Annual Return

  • Company Secretary

  • UBO Register & AML

  • Bank Account setup & AML

  • Tax & VAT Registration

This is everything you need to set up a limited company in Ireland, including your business bank account and Irish tax registrations. 

WHAT TAX RATE WILL APPLY TO MY IRISH LIMITED COMPANY?

The corporate tax rate for a limited company in Ireland is currently 12.5%, among the lowest in Europe. The low corporation tax rate has been one of the primary reasons why companies globally are interested in Ireland. As Directors and business owners, it is very important to know the tax rates before proceeding with any decision related to your Irish company. It is a good opportunity for businesses to save a lot of money on their tax bills as well as ensure they get the most out of their year-end revenue. 

You might be able to avail of the 3-year Tax exemption for Startup limited companies in Ireland.

A recent study by PWC - "Paying Taxes 2020" - ranked Ireland in first place for the ease of paying taxes. Ireland has double tax treaties (DTA) with 73 countries. 

WHAT TAX RATE WILL APPLY TO MY IRISH LIMITED COMPANY?

 

WHAT DO OUR CUSTOMERS SAY ABOUT US?

Yuri  Vyos

Yuriy Andamasov, Co-founder and Chief Executive Officer at VyOS Inc.
19/09/2022

We have worked with NathanTrust for more than two years (and don't plan to stop), and I can recommend Philip and his team to everyone who plans to do business in Ireland.

They are an exceptional multi-disciplinary team of professionals!


And to be more precise, here're just a few of the things they helped us with:

  • company incorporation
  • tax compliance
  • legal compliance
  • immigration topics
  • real estate / rental matters

All the heavy lifting was done by NathanTrust, so for us at VyOS, it was almost effortless, and we could focus on other topics.

Our customers say based on 22 reviews google-review-logo - Custom Creative

CAN A NON-RESIDENT START A BUSINESS IN IRELAND?

Yes, this is possible. A lot of Irish companies have Directors who are not Irish residents. If the company does not have an EEA resident Director, then it needs a Non-EEA Directors Bond to be in place before the company can be set up. 

CAN I OPEN AN IRISH LIMITED COMPANY BANK ACCOUNT IN IRELAND AS A NON-RESIDENT?

We work with the 2 major banks in Ireland - AIB and Bank of Ireland. In our experience, these are the only 2 banks in Ireland that are set up to work with international companies just setting up in Ireland. 

It is vital that you approach and engage with the banks in the right way, from day 1. We have successfully opened hundreds of Bank Accounts in Ireland for our clients globally. 

HOW HARD IS IT TO VAT REGISTER MY LIMITED COMPANY IN IRELAND?

Getting VAT registered for your limited company if you are non-resident directors and shareholders in Ireland is difficult. You will need to show the following:

  • A mix of customers and suppliers based in Ireland
  • 1-page business plan
  • Irish phone number (you can get this via Skype)
  • .ie web domain
  • Possibly a short term rental contract in a shared office space like this 
    https://www.republicofwork.com

 

Start Planning My Company

 

This 2-min 29-sec video below explains in detail the VAT registration process in Ireland for a limited company.

WHAT IDENTITY DOCUMENTS WILL I NEED WHEN SETTING UP A COMPANY IN IRELAND?

Before a company registration can be completed with Nathan Trust, you will need to furnish us with certified proof of identity (preferably passport) and a certified document showing proof of address (e.g. bank statements, utility bills, tax documents) for the directors and shareholders of the new company in Ireland. This is all part of the AMLD5 Directive from the EU. 

HOW LONG DOES IT TAKE TO SET UP A COMPANY IN IRELAND?

It usually takes between 5-7 days, once anti-money laundering (AML) checks have been completed and signed documents are received. For AML we require the following:

  • 1 * certified copy of Passport.
  • 1 * certified copy of utility bills. These need to be dated within the last 3 months.
  • If the shareholder is a company, we will need to see the Cert of Incorporation. We need to identify the Ultimate Beneficial Owner.

Start Planning My Company

ACCESS TO TALENT IN IRELAND

Ireland has the youngest population in the European Union with 33%  of the population under the age of 25. Conversely, the share of the population 65 or older is the lowest in the EU. 

The population is highly educated with 3rd level attainment among ages 30-44 of 55.4% vs the EU average of 40.3%. 

There are over 400,000 international workers in the labour force as of Q2 2020 which is the 4th highest in the EU. This makes up 17% of the workforce. The majority of these foreign workers are highly educated and are working in the technology industry. 

British citizens can continue to travel, work and study in Ireland post-Brexit. The common travel agreement guarantees this. 

HOW COMPETITIVE IS THE IRISH ECONOMY?

Ireland consistently ranks as one of the top countries in the world to do business in and consistently attracts a large level of foreign direct investment. 

Ireland is the 12th most competitive economy in the world and the 4th most competitive economy in the EU. 

OECD figures show Ireland as the first in the world for labour productivity. 

Labour costs in business economy sectors

competitiveness

 

NATHAN TRUST - FULL RANGE OF SERVICES

Our complete service offering combines a highly skilled and experienced team of Corporate Secretaries, Accounts and International Tax Specialists. We provide an 'end to end solution that supports all your Irish company compliance needs. From company setup to specialist tax advice to running your company payroll. We have it all covered. You can download our latest brochures detailing our services below:

Full Company Secretarial Services (PDF) here:

Download PDF

Full Accounting & Tax Services (PDF) here:

Download PDF

HOW LONG DOES IT TAKE TO COMPLETE A LIMITED COMPANY REGISTRATION IN IRELAND?

 

Limited company registration can normally be completed in 5-7 working days, from the date of receiving signed application documents.

Start Planning My Company

DO I NEED TO HOLD MEETINGS (AGMS) IN IRELAND?

LTD companies may dispense with the requirement to hold an AGM provided members sign a written resolution dispensing with the AGM. If this option is not taken then a company should hold an AGM each year, with not more than 15 months elapsing between AGMs. To find out how to conduct a successful AGM and the top tips to arrange a successful AGM, click here.

WHAT ANNUAL PAPERWORK NEEDS TO BE FILED FOR MY COMPANY?

All companies must file an annual return with the Companies Office at least once every calendar year. With the exception of the Company’s first Annual Return, Companies must attach a copy of their accounts to the annual return filed with the Companies Registration Office (CRO). The accounts attached to an annual return must be made up to a date that is not more than 9 months earlier than the effective date of the return. Nathan Trust can take care of annual returns for your Irish company.

CAN YOU HAVE A SINGLE DIRECTOR COMPANY IN IRELAND?

Currently, an Irish company registration requires just one director, with a separate person acting as Company Secretary.

WHAT IS A COMPANY SECRETARY?

The Companies Act 2014 stipulates that every company must have a company secretary. As for their duties, the act states:

“The duties of the secretary of a company shall, without derogating from the secretary’s statutory and other legal duties, be such duties as are delegated to the secretary, from time to time, by the board of directors of the Company”.

These duties entail:

  • Co-signing the annual return with one of the director(s) of the company.
  • Maintaining the statutory registers of the company.
  • Maintaining up to date minute books of meetings of the Board and the AGM.
  • Ensure that all filings are made in the  Companies Registration Office (CRO).

The company secretary does not have voting rights at board meetings and cannot make any board-level decisions unless the company secretary is also a director.

CAN ANYONE ACT AS A COMPANY SECRETARY?

Technically, yes, once they are 18 or over. There are no official educational requirements needed to act as Company Secretary, however, it is important to note that Irish company directors have a duty to ensure that the Company Secretary has the skills and resources necessary to discharge his or her duties. It is common for company directors to employ the services of a professional company secretarial firm. Nathan Trust offers the service of a professional nominee Company Secretary.

SETTING UP A COMPANY IN IRELAND AS A FOREIGNER

For those residing outside the EEA and are non-residents, there are two options. Either you can purchase a non-EEA Director bond, which ensures the company against fines for any offences under the Companies Act, this bond would need to be renewed every 2 years. The other option would be for the Irish company to appoint a non-executive or “nominee” director to the board to satisfy the residency requirement.

DO I NEED AN ADDRESS IN IRELAND?

Yes, all companies registered in Ireland must register with an Irish address, P.O box addresses are not permitted. This registered address does not need to be your trading address. Nathan Trust can provide your new Irish company with a registered address in Dublin or Cork.

To Register your Irish Company with Nathan Trust, you can chat with our experts or fill out the project planner form and get a quote today. 

 

NATHAN TRUST - FULL RANGE OF SERVICES

Our complete service offering combines a highly skilled and experienced team of Corporate Secretaries, Accounts and International Tax Specialists. We provide an 'end to end solution that supports all your Irish company compliance needs. From company setup to specialist tax advice to running your company payroll. We have it all covered. You can download our latest brochures detailing our services below:

Full Company Secretarial Services (PDF) here:

Download PDF

Full Accounting & Tax Services (PDF) here:

Download PDF

Customer Testimonials

As a family business, we pride ourselves on going ‘above and beyond’ for our clients. Don't take our word it, here is what our customers say:

  • Jaclyn Strul
    CFO, Globee

    I am very happy to recommend Nathan Trust, they have been extremely helpful and efficient.

    "I am very happy to recommend Nathan Trust, they have been extremely helpful and efficient. Especially considering all the current limitations and challenges to doing international business as a result of the COVID-19 crisis. Nathan Trust said they could adapt and get our Irish business and bank account setup without needing to visit Ireland, and they delivered. I look forward to partnering with Nathan Trust on growing our business in Ireland."
  • Andrew Price
    DIrector, Swan Wool Ireland

    We found Nathan Trust to be very helpful and professional throughout the whole process of setting up in Ireland.

    “We found Nathan Trust to be very helpful and professional throughout the whole process of setting up in Ireland. We are glad that we chose them, and we are happy to recommend them to anyone thinking of setting up in Ireland. I’d like to thank Rory, Laura, and Clodagh for the very professional and efficient service they have given Swan Wool in incorporating Swan Wool Ireland. Looking forward to working with you guys in the years to come."
  • Peter Von Schmidt
    Client Director at Scope AT

    Philip and the team were always very responsive and were always available to answer any questions we had.

    "Nathan Trust did a great job at helping us register our Irish Branch for VAT in Ireland. Philip and the team were always very responsive and were always available to answer any questions we had. Very happy to recommend Nathan Trust to any UK recruitment agency set up in Ireland."
  • Daniel Garcia
    President at SEI Electric

    We strongly recommend Nathan Trust to anyone or any company planning to work in Ireland

    "Philip's professionalism, dedication and deep knowledge made for a great end to end experience. Nathan Trust followed throughout the whole process guiding and supporting our company through rather complex issues which exceeded both our expectations, deadlines and budget. We have operations in the US, Latin America, Netherlands and China and by far Nathan Trust has been the best experience. We strongly recommend Nathan Trust to anyone or any company planning to work in Ireland."
  • Daniel Cotti
    CFO at TradeIX

    Nathan Trust has been with Tradeix from the very start, literally!

    "Nathan Trust have been with Tradeix from the very start, literally! They have been invaluable in helping us set up and grow in Ireland. Philip and his team continue to show dedication, creativity and flexibility. No matter what a fast-growing Fintech startup-like Tradiex has thrown at them - Nathan Trust has come up with a solution. I cannot recommend them highly enough."
  • Mark Mason
    Founder/Principal at Affirma Consulting

    Nathan Trust helped set up the company, open bank accounts, register with the IDA. It was an end to end service.

    "Nathan Trust helped set up the company, open bank accounts, register with the IDA. It was an end to end service. The whole Nathan Trust team have been super accessible even though we are based in Seattle. Choosing Ireland has proved to be a great choice for Affirma and Nathan Trust continues to be a big part of this."
  • Christopher Ghazarian
    General Counsel, DreamHost

    I highly recommend Mark and the Nathan Trust team for any US and international tech companies looking to expand into Ireland.

    "Mark and his team have made setting up a company in Ireland a real pleasure. The quality of their work, support and hospitality never ceases to impress me. Even though we are 8 hours behind, the guys at Nathan Trust are always super responsive and willing to help with any questions or issues. I highly recommend Mark and the Nathan Trust team for any US and international tech companies looking to expand into Ireland."

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Ready to set up your Irish company?

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