At TAXBACKnow.ie we offer Company Formation, Company Secretarial and Company Registration. With our service guarantee and rapid response times, we will manage your company formation application from start to finish, and will provide you with full support and expert guidance after your company is registered. We can complete your company registration in Ireland in only 3-4 working days.
We will form your limited company with share capital, without share capital (company limited by guarantee) or a single member company. We will register business names and provide a registered office address for you.
At TAXBACKnow.ie we know that your time is precious and we know that starting a new business and setting up the company can be long winded and confusing. That’s why we invite you to try out our website and experience the difference for yourself. It is our job to take the work away from our clients with compliance in mind at all times.
Contact us today on +353 21 4220019 for a competitive quotation and to discuss your precise requirements in more detail.
Free one hour consultation with an Accountant
Company Secretarial and Company Formation Services
Private Limited Company
A Private limited company (Ltd) is the most widely used type of company incorporated in the Republic of Ireland.
The shareholders of a private limited company have “limited liability” with respect to the liabilities of the company. Their liability is limited to their investment in the issued share capital of the company, usually 100 €1 ordinary shares bringing the liability to €100. A Private Limited Company cannot be traded on the stock exchange.
Private Companies limited by shares are required to have the suffix “Limited” or “Ltd” after their name.
A Private Limited Company must still make an annual return to the Companies Registration office, irrespective of whether it has or has not traded.
A Private Limited Company with one shareholder is known as a single member company. Whilst a limited company can have one shareholder, legislation provides that a limited company in Ireland must have a minimum of one directors and a separate secretary.
Business Name Registration
Under the Registration of Business Names Act of 1963 the registration of a business name is mandatory if any individual or partnership carries on business under a name other than their own true names. The registration of a business name does not protect the name from being used by someone else.
On a more practical level banks will not open accounts in names different from their customers unless they have registered a Business Name.
Likewise the Registry of Domain names will ask that a business name be registered where a domain name application is different from the applicant’s name.
Only residents in the Republic of Ireland can register business names as Sole Traders. If you are not a resident of the Republic of Ireland you will need to submit a letter of business permission form the Department of Justice and a Stamp 4.
Registered Office Service
The Irish Company Formation Shop can provide you with a registered office for €21 plus VAT per month. Keep your residential address private and prevent it being visible to the public.
The benefits of using our Registered Office Service are:
- Your residential address is not shown on the public register
- We receive CRO correspondence on your behalf to ensure no deadlines are missed and other information issues are dealt with
- Stops unsolicited junk mail
- Rental contract restrictions – many rental contracts don not permit the landlord’s address to be used as a registered office
- Use of central location of Ballincollig, Co. Cork as your registered office
International customers comply with Irish and UK law – overseas companies will need this service to form an Irish or UK Company as the registered office address must be Ireland or the UK.
Annual Return
Irish Companies are required under statutory legislation to file an Annual Return and Financial Statements every year with the Companies Registration Office. Failure to comply with this can have severe consequences together with considerable fines which accumulate daily, loss of audit exemption for a two year period and possible involuntary dissolution of the company and legal action against the Directors by the Office of the Director of Corporate Enforcement (ODCE).
It is vital to note the first Annual Return for an Irish Company is due 6 months after incorporation, and every 12 months thereafter. Financial Statements are not required with the first Annual Return. A company must file an Annual Return in every calendar year, and the Financial Statements must be made up to a date no more than nine months before the Annual Return Date.
If we have incorporated your company for you, we will inform you of your Company’s Annual Return Date and prepare this Annual Return form for filing in plenty of time to avoid any CRO late filing penalties.
Change of an Irish Company Name
The Irish Company Formation Shop can change / amend your Irish Limited Company name. Unfortunately in Ireland it is not quite as straightforward as completing a form. The following steps are necessary to complete in order to change the your Limited Company name :
- Verify availability of proposed new company name
- Preparation and filing of Companies Registration Office Form G1Q
- Preparation of an amended Memorandum and Articles of Association
- Preparation of a Special Resolution, to be signed by the members
- Directors Board Minutes to pass resolution
- New Company Seal
A company name change in Ireland takes 1-2 weeks.
Tax Registration
The Irish Company Formation Shop can register a sole trader, partnership and limited company for taxes with Revenue on your behalf.
Limited Company – Once a Company has a Company Registration Number, we can apply for a tax registration number with the Revenue. Every Company will have to register for Corporation Tax.
However, a Sole Trader / Partnership / Limited Company might also need to register for PAYE, VAT and RCT.
PAYE / PRSI
A Sole Trader / Partnership / Limited Company needs to register for PAYE / PRSI if the business is employing staff or if its Directors are being remunerated.
VAT
At present in Ireland you are required to register for VAT if you provide, or believe you will generate turnover from the provision of services to the value of €37,500 in any continuous period of twelve months. This increases to €75,000 for the sale of products. These sales must be to Irish based customers
Relevant Contracts Tax (RCT)
RCT is a Withholding Tax System that applies to payments made by a principal contractor to a subcontractor under a relevant contract i.e. a contract for the carrying out of, or the supply of labour for the carrying out of, relevant operations.
RCT applies to the following industries:
- Construction operations
- Forestry operations
- Meat processing operations
Voluntary Strike-Off – Close a company in Ireland
An Irish Company may be Voluntarily Struck off the Register of Companies provided that the company has no assets or liabilities i.e. the balance sheet is zero.
We can carry out all the processes on your behalf to guarantee the company is closed accurately in the fastest possible timeframe. The required steps of a voluntary strike off in Ireland include:
- Ensure all Annual Returns and Financial Statements are up to date
- Draft Directors statement that the company has ceased trading or has never traded
- Draft minutes of Board Meeting for Directors and Shareholders consent to the dissolution of the company
- Send Letter to Revenue requesting letter of no objection
- Put Advertisement in Irish National Daily Newspaper
- Preparation and filing of form H15 with the Companies Registration Office
Once the above steps are undertaken, it takes roughly three months for the company to be struck-off the register. We will naturally inform you as soon as the company has been struck-off.
