Irish Limited Company – Price and Procedure

Price: How Much Does an Irish Limited Company Cost?

The cost of setting up an Irish Limited Company can vary depending on several factors:

• Registration Fees: The Companies Registration Office (CRO) charges a fee for registering your company. This is typically a few hundred euros. Check the CRO website (cro.ie) for the most up-to-date fees.
• Professional Fees: Many people choose to use a company formation agent or solicitor to help with the process. This can add to the cost, but it can also save you time and ensure that everything is done correctly. Fees for these services can range from a few hundred to several thousand euros, depending on the complexity of your needs and the level of support you require.
• Registered Office Address: You need a registered office address in Ireland. If you don’t have a physical office, you can use a registered office service, which typically charges an annual fee.
• Ongoing Costs: Don’t forget about ongoing costs like annual returns to the CRO, accounting fees, and potential audit fees (depending on the size and nature of your business).

Procedure: Steps to Setting Up Your Irish Limited Company

The process of setting up an Irish Limited Company generally involves these key steps:

1. Choose a Company Name: Your company name must be unique and comply with CRO regulations. You can check the availability of your desired name on the CRO website.
2. Appoint Directors and a Company Secretary: You need at least one director and a company secretary. The director can also be the company secretary, unless you are a public limited company.
3. Determine the Registered Office Address: As mentioned above, you need a physical address in Ireland for official correspondence.
4. Define the Company’s Objects: You need to state the main business activities your company will undertake.
5. Prepare the Memorandum and Articles of Association: These documents outline the company’s rules and regulations. Templates are available, but it’s often advisable to seek professional help to ensure they are tailored to your specific needs.
6. Register the Company with the CRO: Submit the required documents and pay the registration fee to the Companies Registration Office.
7. Obtain a Tax Registration Number (TRN): Register with Revenue (the Irish tax authority) for corporation tax and other relevant taxes.
8. Open a Business Bank Account: You’ll need a separate bank account for your company’s finances.

Setting up an Irish Limited Company can be a rewarding venture. By understanding the price and procedure involved, you can plan effectively and ensure a smooth and successful launch for your business. Consider seeking professional advice from a company formation specialist or solicitor to navigate the process efficiently and avoid potential pitfalls. Good luck!