Find out more:


Related Products:


Company Formation in Republic of Ireland

Entity Type: Private Limited by Shares


Name Details

Does the name of the company require approval by the Registry or other authorities?

See item 3 below.

How many prospective names will you require?

Three are recommended.

Are there any restrictions or limitations on words that can be used in company names?

Yes.

  • If it is identical to or too similar to a name already appearing on the register of companies
  • It is offensive
  • It would suggest state sponsorship.

The following guidelines will assist you in assessing the acceptability or otherwise of company names:

  • It is generally recommended that company names include extra words so as to create a sufficient distinction between names. Certain words and their abbreviations together with accents and punctuation marks are not sufficient to distinguish between company names. Examples of such words include the definite article and the words
    “company”, “co”, “corporation”, “and”, “&”, “service”, “services” ,“limited”, etc. Place names are not considered to be a sufficient distinction between company names, e.g Ireland, Dublin, West, etc.
  • Similar descriptive elements, e.g. press/printing, staff/employment agency, or the inclusion of only a general or weak qualification such as “holding”,
    “group”, “system”, “services”, “international”, etc. may not be regarded as a sufficient distinction between company names.
  • Particular care should be taken with names considered to have a distinctive element i.e. names consisting primarily of made-up words or nondictionary words. The inclusion of qualifying words may not be sufficient to create a distinction between company names.
  • Names which are phonetically and/or visually similar will be refused. This includes names where there is a slight variation in the spelling and the variation does not make a significant difference between the names.
  • A number on its own will not be accepted as a sufficient distinguishing mark, unless the company concerned is part of the same group.
  • The use of a year in numerals to differentiate between two companies of otherwise the same name is prohibited.

The following restrictions also apply to company names:

  • Names containing certain words cannot be used unless approved by relevant bodies. For example, the words “bank”, “banc”, “banking”, “banker” may only be used with the permission of the Central Bank of Ireland. This also applies to names such as “hollybank”, “sweetbank”, “canal bank”, “bancorp”, etc. and the surname “Banks”, not withstanding the fact that the company being incorporated may not intend to carry on banking business.
  • Words such as “insurance”, ”re-insurance” and “assurance” cannot be used unless prior permission has been sought from and granted by the Irish Financial Services Regulatory Authority (IFSRA).
  • The word “society”, “co-op” or “co-operative” cannot be used unless permission has been sought from and granted by the Registrar of Friendly Societies.
  • The words “University” and “Institute of Technology” or “Regional Technical College” cannot be used unless permission has been sought from and granted by the Department of Education.
  • In the case of the word “Charity”, further information may be sought by the CRO to support the application.
  • If a name includes words which imply specific functions, e.g. “holding”, “group”, etc., further information may be required by the CRO to support the application.
  • The use of the word “standard” is prohibited.
  • The use of the word “Credit Union” is prohibited under the Credit Union Act 1997.

Address Details

Does the company need to provide a registered address?

Yes. The registered office address must be in Ireland.

Are there any limitations on the registered address (i.e. must be in-country, must not be a PO box)

In- country and must not be a BO Box.

Eversheds O’Donnell Sweeney can provide at a fee of €500 per annum, payable in advance each year.

If the client has no physical location in-country, can they use your address for the purposes of registration?

We can provide a registered office address. However we cannot provide a trading address. In Ireland, a company cannot be formed without a trading address.

Officer Details

How many Directors are required?

As set out in the proposed articles of association but subject to the statutory minimum of two.

Are any other officers required (i.e. Secretary)?

Company Secretary is required.

What personal details will you need for each officer?

For directors:-

  • Full name of new director (initials are not permitted)
  • Residential address (there is no exemption in Ireland)
  • Nationality
  • Date of Birth
  • Business Occupation
  • List of other directorships worldwide including past directors less than 10 years, to include country of incorporation, company number and date of resignation if applicable.
  • Effective date of appointment
  • Disclosure of Directors Interests in Shares

In respect of company secretary, the only particulars required are full name and address.

Is there a requirement for any in country resident directors?

At least one director of the company is required to be resident in the EEA – OR – a bond is required to be put in place – unless the company has received an exemption from the Revenue Commissioners.

Do you need proof of address or Identity for officers? If YES, in what format?

Only for the purpose of anti money laundering requirements – so for new clients. Not required for existing clients.

Format:- certified copy passport or driving licence and copy recent (within 3 months) utility bill.

Shareholders

How many shareholders are required?

One.

Are there any restrictions on who can be a shareholder?

Must be a legal entity so a trust or other unincorporated body may not be a shareholder.

What information will you require about shareholder?

Name and address.

Will you require proof of address or ID from the shareholders?

 

No – unless for the purpose of anti-money laundering requirements.

Share Capital

Will the company need to specify a maximum number of shares that can be issued?

Yes – authorised share capital must be specified.

Is there a minimum number of shared that must be issued?

One share.

Is any stamp duty paid on the issued share capital? If YES, at what rate is this calculated.

No.

Other Details

Do you require any further information about the company or its office

YES:

  • Objects: The main objects of the company must be disclosed in less than forty words.
  • A company will not be incorporated unless it appears to the Registrar of Companies that the company, when registered, will carry on an activity in the Republic of Ireland. “Activity” means “any activity that a company may be lawfully formed to carry on and includes the holding, acquisition or disposal of property of whatsoever kind”. Form A1 contains a declaration that one of the purposes for which the company is being formed is the carrying on by it of an activity in the State.
  • Trading address in Ireland. Eversheds O’Donnell Sweeney cannot provide a trading address in Ireland.

Timescale

How long will it take to complete incorporation

For a standard incorporation, using our preapproved form of memorandum and articles of association, incorporation will be within 5 days of submission of completed signed documentation to the Registrar.  You will need to allow time for preparation and signature of the application documentation.   Shelf companies are not available in Ireland.

Is there any way to expedite the incorporation for an extra fee?

No.  CROdisk application (the format we use) is the fastest available.

Costs

Fees for Incorporation

€710 plus VAT and outlay for a standard routine incorporation.

Anticipated Disbursements/Expenses

€75 plus company seal €35 approx.


Latest version updated 3rd May 2018

Country Breakdown

4.773

Million

Population

Euro

Currency

$ 294.1

Billion

GDP

70,273

km2