Irish Company Formation

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					                        Irish Company Formation
Company formation is another term for the incorporation of a business. Both these terms are used
interchangeably all over the world. A majority of countries support local company formations by
providing online support along with the facilities to form companies online within a matter of hours!
Company owners don’t necessarily have to be available in the country of formation, they can hire
special agents, solicitors and accountants to conduct and speed up the process on their behalf.


Company Formation in Ireland
In Ireland, the Companies Registration Office or CRO (locally known as Oifig um Chlárú Cuideachtaí) is
responsible for registration and incorporation of companies. It is also in charge of filing their annual
returns each year. The office also handles receipt and registration of all the incorporation documents.
Sole-traders and partnership businesses also get registered here.

Irish company formation is a fairly easy and quick process. Non-residents are also allowed to register a
branch of their existing international company in Ireland instead of registering a brand new one.




Types of Companies: Ireland
These are the most prominent types of companies in Ireland.

Private Limited Company: This is the most common type for those looking for private and commercial
business ventures in Ireland. It consists of 1 to 4 shareholders mostly, but is allowed to have up to 99
shareholders. It is subject to minimal disclosure requirements, and has to show a very limited amount of
accounts information. Private Limited Companies may also avail Audit Exemption if they have a turnover
of less than €7,400,000.
Limited Liability Partnership: These are used sporadically as very few limited liability partnerships are
registered in Ireland each year. LLP needs to have one general partner and one limited partner at least
to be valid. If it’s a banking concern, the limit is 10 partners. Otherwise, an LLP can have up to 20
partners. The general partners are accountable for all the debts and liabilities of an LLP.

Public Company Limited by Shares: This type of company is perfect if the owners are planning on a
stock exchange listing or if a major Business Expansion Scheme is in the works. There aren’t any
restrictions in the number of shareholders it can have. Although the requirements for minimum capital
issued are quite steep at €38,092.14, of which 25% must be paid up at the time of application for trading
certificate.

Company Limited by Guarantee without having a Share Capital: A guarantee company form is great for
charities, sports clubs or any entities that may need corporate protection. They are strictly required to
file their audited accounts at the CRO each year.




Advantages of Irish Company Formation
Ireland is an attractive country for international business because of its low 12.5% corporate tax. Irish
companies also enjoy the country’s double taxation treaties with many other members of the European
Union along with Australia, China, India, Japan and the US. In fact, the World Bank 2012 survey counted
Ireland as the worlds 10th easiest place to conduct business.

				
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Description: Irish company formation is a fairly easy and quick process. Non-residents are also allowed to register a branch of their existing international company in Ireland instead of registering a brand new one.