When investing in Ireland, foreign businessmen may opt to register a new company or purchase an already-made company. The term most often employed to refer to an already-registered company is shelf company. An Irish shelf company is usually a limited liability company that is legally recognized. These types of companies are dormant and are not involved in trading activities which is why they have no liability. However, in order make the purchase company due diligence is advised and our experts in company formation in Ireland will provide this type of service. The main reason foreign investors purchase shelf companies in Ireland is the required registration number that is allocated to a company upon incorporation and that will help them start their business activities right away.
You can follow the video below created by our Irish company formation if you want to see the main steps for buying a ready-made company in Ireland:
The main advantage a shelf company in Ireland provides is that it was previously incorporated so enterprisers can start operating immediately. Investors will be able to set up their corporate bank account right away and even buy assets. A shelf company will also provide greater credibility to foreign enterprisers doing business in Ireland for the first time as they can incorporate the history of another business in the shelf company. Shelf companies in Ireland are suitable for any type of businesses and are allowed to carry out operations worldwide. Limited liability companies will also benefit from special corporate tax rates.
Our specialists in company formation in Ireland provide customized legal services and will help investors choose the right type of company.
As private limited liability companies, Irish shelf companies require only two directors and one shareholder minimum. The first step when purchasing a shelf company will be the share transfer which is mainly the same with the incorporation process. However, less documentation and time are required for share transfer than company formation in Ireland. The new owner will be allowed to change the company’s name, directors, secretary and registered office. Once all changes have been made the new owner must notify the Irish Trade Register.
For complete details and prices for shelf company purchases please contact our Irish company formation consultants.