How to Start a Business in Ireland in 2021 – A Guide

how to start a business in Ireland
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Starting a Business in Ireland

The Brexit transition period was completed on the 1st January 2021 and the United Kingdom is no longer a part of the EU customs union and single market.

Many companies find themselves in a predicament and may feel that they are being forced to choose a side as part of their Brexit strategy.

The completion of Brexit brings a serious threat for certain business operations across European borders. 

Why not move your UK company to Ireland?

The Department for International Trade (DIT) recently advised that the best way for UK Companies to avoid border issues and VAT problems is to register new firms within the EU. Furthermore, The British government recently announced that the Corporate Tax rate across the UK will rise from 19% to 25% from 2023, twice that of the 12.5% rate in the Republic of Ireland.

In this guide we will share the information on How to Start a Business in Ireland in 2021 and what are the things involved. 

What types of business forms can be registered in Ireland?

The following types of companies are available for incorporation in Ireland:

A private company limited by shares:

The members’ liability, if the company is wound up, is limited to the amount, if any, unpaid on the shares they hold.

A company limited by guarantee not having a share capital:

As this is a public company, there must be a minimum of seven members. The members’ liability is limited to the amount they have undertaken to contribute to the assets of the company, in the event it is wound up, not exceeding the amount specified in the memorandum.

If a guarantee company does not have a share capital, the members are not required to buy any shares in the company. Many charitable and professional bodies find this form of company to be a suitable vehicle as they wish to secure the benefits of separate legal personality and of limited liability but do not require to raise funds from the members.

A company limited by guarantee having a share capital:

As this will be a private company  the maximum number of members is 99. The members have liability under two headings; firstly, the amount, if any, that is unpaid on the shares they hold, and secondly, the amount they have undertaken to contribute to the assets of the company, in the event that it is wound up.

A public limited company:

This company type must have a minimum of seven members. Their liability is limited to the amount, if any, unpaid on shares held by them. It should be noted that it is unlawful to issue any form of prospectus except in compliance with the Companies Acts 1963-2009.

The nominal value of the company’s allotted share capital must not be less than €38,092.14, at least 25% of which must be fully paid up before the company commences business or exercises any borrowing powers.

Irish resident director

At least one of the directors for the time being of a company which is being incorporated is required to be resident in a member State of the EEA.

The Secretary 

The secretary may be one of the directors of the company. A body corporate may act as secretary to another company, but not to itself. A single-director company (LTD company type only) must have a separate secretary. All company officers have wide responsibilities in law.

Registered Office

The registered office of a company is that to which CRO correspondence and all formal legal notices addressed to the company will be sent. The registered office can be anywhere in the State.

Physical Location

The address must be a physical location, not just a post office box number, because people have the right to visit the company’s registered office to inspect certain registers and documents and to deliver documents by hand.

A letter addressed to the company at its registered office address must be capable of being delivered by An Post.

Registered Office Agent (ROA)

It is possible to have the registered office placed in the care of an authorised agent. The authorised agents information must be completed on form B2 (where the address of the office is being changed).

Annual Return Filings

You will need to file Annual Returns with the Companies Registration Office, even if you are not trading. The first Annual Return is due 6 months after incorporation and once every year after that.

Companies have 56 days to complete all the elements of the Annual Return and there are heavy penalties if missed including losing your exemption from Audit.

Filing with the Register Of Beneficial Owners (RBO)

Do you know you need to file with the RBO?

All Irish registered companies are required to register a list of their beneficial owner(s) (anyone holding 25% or more of company shares) on the RBO website. You have 5 months after incorporation to complete this registration.

The beneficial owners need to have an Irish Personal Public Service Number (PPSN) to complete the registration or they need to complete a form BEN2 if a PPSN is not available.

Register a company in Ireland with Taxlink

The easiest way to register your new company in Ireland is to let us take care of the registration process for you.

As experts in all aspects of company formation we can guide you through each step in setting up your company.

Our bespoke packages deal with all of the administration involved in forming your new company in Ireland. We have the knowledge and experience to ensure that your company is established properly.

Our dedicated and highly skilled team take the hassle out of registering your new company.

Why not let us look after the paperwork while you take care of business?

Please completed our contact form call us on +353 (0) 1 211 8400 our expert team would be happy to advise you.


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