Setting up a Business in Ireland

Overview by Globlatrade.net:

Legal Forms of Companies

Types of Companies and Capital (Max/Min) Number of Partners/Shareholders and Liability Registration Fees
Private Company Limited by Shares (PrC)
 
 
No minimum amount of share capital.
Minimum of 2 shareholders and maximum of 50 (excluding employees); no nationality or residency requirements. Single-member companies may also be incorporated.
 
 
Right to transfer shares is limited, no shares or debentures may be offered to the public. There are four types of Public company:
- Private Limited by Share Capital
- Single Member Private Limited by Capital
- Limited by Guarantee with Share Capital
- Unlimited Company
Company's official registration costs: EUR 60; Legal fees: EUR 250. No taxes or bond issuance. Annual fee of EUR 30 to present accounts.
Public Company Limited by Shares (PLC)
 
 
Minimum allotted share capital, EUR 38,092; 25% of shares allotted, together with all premiums, must be paid up.
Minimum of 7 shareholders; no nationality or residency requirements.
 
 
Right to transfer shares is limited. There are three types of Public company:
- Public Limited Company
- Public Unlimited Company
- Guarantee Company without Share Capital
Company's official registration costs: EUR 60; Legal fees: EUR 250. No taxes or bond issuance. Annual fee of EUR 30 to present accounts.
 
 

Business Setup Procedures

Administrative Formalities
The main steps required to set up a company are to complete the requisite forms, verify that the proposed name is not already in use and file a memorandum of association. The requirements of the memorandum of association are set out in the Companies Act 1963. If no articles of association are registered, the provisions of the Companies Act 1963 apply by default.
Articles of association may be company-specific or based on standard sets available from accountancy firms. The memorandum states the name of the company, the limitations on members’ liability, the amount of authorized share capital, and the firm’s objectives or powers. All limited companies must file accounts with the Registrar of Companies for public inspection.
The Competent Organization
The Irish Companies Registration Office.
Time Necessary for Registration
Setting up private and public limited liability companies is straightforward and can be completed within one week if a standard set of articles of association is used, the application is in electronic form and application is made through a company promoter. The normal period for completion is 15 working days.
 

Recovery Procedures

Principle
Click here.
Minimum Debt-to-Capital Ratio Triggering Liquidation
Click here.
Bankruptcy Laws
Click here.
Reorganization and Rehabilitation Laws
Click here.

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