
Company registration in Ireland
The procedure of
company registration in Ireland must be done in accordance with the
Companies Act. At the beginning of 2015 the Commercial Code was amended and modernized in order to aid foreign investors wanting to
open companies in the country. Among the
Irish Companies Act’s amendments, one refers to the
replacement of limited liability companies with
new types of business structures. However, foreign entrepreneurs can also choose to set up other types of
business entities such as
partnerships and
sole proprietorships. Foreign companies have the possibility of
opening subsidiaries or branch offices in this country and
our team of company formation representatives in Ireland can offer information on each type of
business form that can be registered here.
Available types of companies presented by our Irish company formation agents
Ireland provides the following types of companies available for incorporation:
•
private company limited by shares – the
company can be registered with only
one director and it is not required to state the
company’s business activities, as it is the case for most of the
legal entities; In case you are thinking of
setting up a limited company in Ireland, our company incorporation agents are at your disposal;
•
designated activity company – it is compulsory to have at least
two directors and the procedure of
company registration in Ireland in this case requires
drafting the articles of association and memorandum;
• designated activity company limited by guarantee – it respects the same regulations mentioned in the case of the designated activity company, with the difference that the company’s shareholders have liability in terms of the shares they own in the company, as well as on their contribution to the company’s assets;
•
company limited by guarantee – the
company is not required to establish a
miminum share capital, while the
company’s founders do not have to
purchase shares within the
company;
• public limited company – the legal entity can be registered with a minimum share capital of EUR 25,000;
• unlimited company – the company’s founders have unlimited liability for the company’s debts;
• Societas Europaea – this legal entity is formed as a public limited liability company, under the regulations of the 2157/2001 of the European Union and the regulation SI No. 447 of the European Communities.
Under the regulations of the
new Companies Act, the investors have a
greater flexibility in
opening a company in Ireland as a
limited company. It is important to know that the first five
types of legal entities mentioned above are considered
limited companies, which represent the
most popular types of business forms chosen for
incorporation in Ireland. In a
limited company, the
shareholders have
limited liability for the
company’s debts.
เกมยิงปลาใหม่Our team of company formation agents in Ireland can offer more details on this matter.
In the case of private limited companies in Ireland, investors are required to change the company’s status into one of the new types of companies introduced by the Companies Act 2014. These are the private company limited by guarantee, the private company limited by shares and the designed activity company.
Being the most employed
type of company in Ireland, the
private limited liability company - in any of its new forms - benefits from
simplified registration procedures. The main differences between
private limited companies and
designated activity companies reside in:
• the private company may have only one director and an Irish resident company secretary;
• the
designated activity company must have at least
two directors, one of them being allowed to act as a
company secretary.
Considering Irish limited liability companies must change their status into one of the above mentioned, it is highly advisable to refer to the services of Irish company formation experts in order to complete the change.
Investors can also watch the video below for more information about the types of companies in Ireland:
Sole proprietorships and partnerships in Ireland
Foreign investors wanting to establish smaller businesses can register as
sole proprietors with the
Companies Registration Office in Ireland or can find a partner and create a
partnership. Investors interested in the proceure of
company registration in Ireland may set up one of the following
Irish partnerships:
• limited.
Both types of
partnerships are incorporated by
signing a deed of partnership. The
Companies Act also allows the formation of a
limited liability partnership, which consists of the structure of a
partnership but with the benefits of
Irish corporate entities.
Comments
Aaron 2017-07-21
A very detailed presentation on the new companies. Thanks, I will read more on this subject.