Ireland Company Registration - Business Setup

Frequently Asked Questions

• What type of company do you register in Ireland?

  The type of company that we form in Ireland is known as a Private Company Limited by shares (LTD) and it is regulated under the Companies Act 2014. A private company limited by shares (LTD) is the most commonly used Irish company type for commercial and private businesses in Ireland.

• Is an Irish Private Company Limited by shares (LTD) tax liable?

  Please refer to our complete guide about an Irish limited company taxation.

• Do I need to submit accounts for an Irish Private Company Limited by shares (LTD)?

  Yes, an annual return must be filed annually with the Companies Registration Office regardless of whether the company has traded or not. SFM, through its partners' local accountants can take care of this formality for you.
  
  We will contact you in due course and ask you for documents to be able to produce accounts on your behalf. Documents requested are generally bank statements, invoices, and receipts.

• Will my data be publicly available in Ireland?

  Yes, Irish company officers’ names are publicly available to check online.

• How many directors and shareholders should I appoint to my Private Company Limited by shares (LTD)?

  A minimum of 1 director and 1 shareholder should be appointed to setup an Irish limited company (LTD). The maximum allowed number of shareholders is 149, while an LTD company can have only one single director.
•  

• If I’m not a resident in the EU zone, can I still register a Private Company Limited by shares (LTD) in Ireland?

  Yes, a foreign shareholder can register an Irish limited company (LTD). However, if the director is not a resident in the European Economic Area (EEA), a bond called ‘Section 137 Non-Resident Directors Bond’ must be put in place.

• What is the ‘Section 137 Non-Resident Directors Bond’ ?

  A Section 137 Bond covers the company up to a sum of €25,000. This policy covers the risks of non-compliance by the company.

• Will my liability be limited if I register my company as a Private Company Limited by shares (LTD) in Ireland?

  The shareholders’ liability in an Irish limited company (LTD) is typically limited to the amount of shares respectively held by them.

• Do I need to travel to Ireland at any point to setup my Irish limited company (LTD)?

  No, the Irish company registry is extremely efficient, and all formalities can be completed online.

• How easy is it to open an account for an Irish limited company (LTD)?

  If you would like your bank account to be opened in Ireland, this is possible but will require your visit to Ireland to meet the bank in person.
  
  Otherwise, we may open bank account in other countries.
  
  Generally speaking, Irish companies are extremely well regarded internationally, and therefore opening a bank account is usually not a problem. Obviously, this will be subject to the bank’s own decision and due diligence requirements.