Company Formation Questions, Company Registration Procedures in Ireland.

How to form a limited company, the company registration requirements and procedures. Questions and answers to the most common company registration issues.

How Many Directors must the Company Have?

A minimum of two Company Directors are required. (Corporate Directors are not allowed.) 

Are Irish Resident Directors required?

A Director can be of any nationality but one of the Company Directors must be "resident" in member state of the EEA. (European Economic Area).  The EEA is all of the EU plus Iceland, Norway and Liechtenstein.
 In the absence of having in place a "resident" Company Director the proposed company may enter a surety bond in the sum of €25,395. See, BCF's Non EEA Resident Directors package. 

What about the Company Name - Will My Choice of Company Name be approved?

Your proposed choice of company name requires approval by the Registrar. There are detailed requirements with regard to company names. See related article - Limited Company Name approval practice. 

Do I need a Registered Office Address?

A Registered Office Address is required. This address must be in Ireland. All "official" correspondence is sent to the registered office. 

Can I Use my Home Address as the Company's Registered Office?

Yes.

Is the Registered Office Address the same as the Business Trading Address/Centre of Administration ?

The trading address is the address at which the proposed trade or business is actually carried on. In many start up/small to medium sized companies this is often one and the same as the registered office address.  

The centre of administration of the business is the address at which the overall control of the company is exercised and at which the central administrative functions of the business is carried on. 

Who are the Shareholders?

The shareholders (often referred to as, "the members") are the actual owners of the company. The minimum number of shareholders is one, the maximum number of shareholders is fifty in the case of a private company. Corporate shareholders are allowed. Shares may be held jointly by two or more people.

How is the Company Capital Arranged?

The "authorised" share capital of a company is the total number of shares that can be issued in the company. BCF, for the purpose of latitude and in order to avoid you having to increase the authorised share capital at a later stage will incorporate your new company with capital of 1,000,000. Company share capital is expressed in Euros.

The "issued" or paid up share capital is the shares that have actually been allotted and paid for by the shareholders. In the absence of instructions to the contrary BCF will initially issue  2 shares of one Euro each to your nominated persons.

Can One Person Own all of the Shares?

Yes. Proprietors who wish to hold the entire share capital can do so by forming a "Single Member Company". See a related article the advantages of incorporating a limited company.

What about a Company Secretary?

Every limited company must have a Company Secretary. This may be one of the named Directors or another person.

What are the Limited Company's Obligations after Incorporation?

The company will need to register with the Revenue Commissioners for corporations tax, VAT, etc. Further information relating to Irish tax registration and tax issues may be found at Irish Revenue Commissioners

The company will need to maintain the necessary statutory registers of the company - see company maintenance for further details

An Annual Return will need to be filed six months after incorporation and every year thereafter. 

Accounts must be prepared and filed each year, in certain cases, audited accounts may be required. 

Can Business & Company Formations help with all of the above ?

Yes, BCF upon receipt of your order, will check and advise you upon the availability or otherwise of your proposed company name, generate the necessary pre-registration & legal documents and upload these documents to your inbox for printing, signing and return.

How long will the process take to complete ?

Why Form a Limited Company in the first place?

A limited company is a legal entity in its own right and has a number of distinct advantages over trading as a sole trader or partnership. See related article.

Should you require advice and assistance in relation to company secretarial work,  please use our online e-mail consultation - click here