An island country in northwest Europe, Ireland is traditionally known for its vibrant scenic landscapes and a rich tapestry of folklore. The government has experienced significant growth across various industries, including agriculture, information technology, tourism, and manufacturing, since the 1950s. Ireland also stands out as a prominent exporter of agricultural produce, metals, machinery, and pharmaceuticals. All in all, Ireland fosters a thriving economy that attracts a diverse range of businesses from around the world. If you are gearing up for a company setup in Ireland as an investor or an entrepreneur, BSW can ease the way for you. Praised as one of the premier service providers, Business Setup Worldwide (BSW) can simplify the business setup journey through extensive and tailored support that meets your needs.
Business Structures for Company Formation in Ireland
When setting up a company in Ireland, one can choose from the following structures, depending on business goals, compliance requirements, and tax implications.
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Sole Trader
A single member can incorporate a Sole Trader or Sole Proprietorship in Ireland. They bear unlimited liability for the company's debts and obligations. To set up a sole trader company in Ireland, it is mandatory to appoint a minimum of two directors and one company secretary.
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Irish Collective Asset Management Vehicle (ICAV)
The ICAV has evolved as a viable business structure for managing investment funds. It attracts minimal compliance, making it an appealing option for international investors. Additionally, it can be incorporated as an AIF (Alternative Investment Fund) or a UCITS.
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Societas Europaea
Societas Europaea in Ireland is a European Public Limited Company formed under EU Regulation (Council Regulation 2157/2001) and Statutory Instrument 21 of 2007. This type of business entity can be formed by merger as a holding company or subsidiary, or by conversion from a PLC.
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Company Limited by Guarantee
A Company Limited by Guarantee (CLG) in Ireland is similar to a Company Limited by Shares, except that the promoters of the CLG don’t need to acquire shares. They are required to pay their assured contribution if the company is dissolved. This type of legal entity is ideal for establishing a charity or non-profit organization in Ireland.
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Limited Liability Company
A Limited Liability Company (LLC) in Ireland is one where the shareholders' liability is limited to the amount unpaid on the shares they hold. Foreigners can own up to 100% of the shares in an Irish LLC.
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Public Limited Company
A Public Limited Company in Ireland is one in which the liability of a member is limited to the amount, if any, unpaid on shares they hold. Such a company may have any number of shareholders. Additionally, the nominal value of a public limited company’s allotted share capital must not be less than €25,000, at least 25% of which must be fully paid up before the company can commence operation or exercise any borrowing powers.
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Unlimited Company
In an Unlimited Company in Ireland, the shareholders bear unlimited liability for the debts or obligations of the business. It is required to have at least two directors, and it can have any number of members. Unlike a Limited Company, an Unlimited Company in Ireland is not obliged to disclose its financial information publicly.
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Limited Liability Partnership
An LLP in Ireland is one where the members of the company have limited liability for the debts incurred by the firm. The partnership must consist of not more than 20 partners. It is worth noting that a limited partnership is not a separate legal entity.
Benefits of Company Formation in Ireland
Ireland company formation has the following advantages:
- Since Ireland is a member of the European Union, companies here get free access to the EU markets.
- Ireland has a low-bureaucracy environment that is very supportive of entrepreneurs.
- The corporate tax rate in Ireland is just 12.5% for resident companies.
- Foreign companies, including offshore ventures, are exempt from corporate tax, withholding tax, and capital gains.
- An extensive network of treaties enables foreign companies to avoid double taxation when repatriating profits.
- Ireland is popular as a trade-friendly jurisdiction with affordable fees and provides a legally robust environment.
How Do You Apply for Company Formation in Ireland?
Though setting up a company in Ireland is relatively straightforward, foreign applicants may encounter some administrative hurdles. That’s where BSW steps in. From scouting relevant compliance to filing the required application, BSW will handle everything on your behalf, making the registration process seamless and straightforward. Here’s how you can apply for company formation services.
Step 1: Raised a query on the BSW portal
Head to the BSW’s website and share your concerns via Email, Chat, and WhatsApp.
Step 2: One-to-One Consultation
After reviewing your requirements, we will assign a dedicated professional to handle the company formation formalities, helping you navigate compliance with ease.
Documents required for Company Formation in Ireland
The documents required for setting up a company in Ireland vary depending on the type of structure chosen. The list below reflects the standard documents that are common across all structures.
- Form A1
- Company’s charters (they must align with the Companies Act 2014)
- Details of the company secretary and shareholders
- Details of directors, including PPS Number
- Details of your registered and business address
- Details of authorised as well as issued share capital
- Valid ID and proof of address
Why Choose BSW?
With 8+ years of experience, BSW ranks among the top-tier service providers worldwide. Our successful track record is a testament to our steadfast commitment to enhancing clients’ satisfaction. From company formation to tax planning, you can rely on us for a wide range of business needs. We guarantee superior service with 100% satisfaction. Contact us, and our dedicated team will handle everything on your behalf from start to finish.
