• Ireland Private Company

  • GENERAL

    Legal Framework

    The Irish Private Limited Liability Company is governed by the Irish Companies Act 1963 - 2009.

  • SHAREHOLDERS

    Liability of Shareholders

    The liability of the shareholders of an Irish Private Limited Liability Company is limited up to the unpaid amount of the shares they hold.

    Minimum Number of Shareholders

    The minimum number of shareholders of an Irish Private Limited Liability Company is 1 and the maximum is 99.

    Restriction on Nationality/Residency of Shareholders

    There is no restriction on the nationality or residency of the shareholders.

    Corporate Shareholders

    The shareholders of an Irish Private Limited Liability Company can be individuals and/or legal persons.

    Nominee Shareholders

    The use of nominee shareholders is allowed.

  • DIRECTORS

    Minimum Number of Directors

    The minimum number of directors of an Irish Private Limited Liability Company is 2.

    Restriction on Nationality/Residency of Directors

    At least 1 director should be an individual who is resident in a Member State of the EEA.

    Companies which do not have at least 1 director who is a resident in the EEA are required provide a bond of €25,395 as a security in the event that the company fails to comply with certain law or tax requirements. The bond is valid for a period of at least 2 years.

    There is no further restriction on the nationality or residency of the directors.

    Corporate Directors

    Corporate directors are not allowed.

  • SHAREHOLDER MEETINGS

    Shareholder Meetings

    All companies in Ireland, with more than 1 shareholder, should hold an annual general meeting.

    The first annual general meeting should take place within 18 months from the company's incorporation.

    Annual general meeting should take place within 9 months from the year-end and not more than 15 months from the previous one.

    Companies with 1 shareholder can dispense the annual general meeting.

    If the company's Articles permit so a company can have its general meeting abroad.

    Shareholders can vote by a proxy.

  • CAPITAL

    Minimum Capital Requirement

    The minimum capital requirement for an Irish Private Limited Liability Company is €1.

    Currency of Capital

    The share capital can be only denominated in Euros.

    Non-par Value and Bearer Shares

    Bearer shares and non-par value shares are not permitted.

    Capital Duty

    There is no capital duty on the issuance of shares.

  • REGISTERED OFFICE

    Registered Office

    It is a legal requirement for every company in Ireland to have a registered office in Ireland.

    Company Secretary / Registered Agent

    Every company in Ireland is required to have a company secretary.

    Both physical and corporate bodies are allowed to act as company secretaries.

  • FOREIGN INVESTORS

    Restrictions on Foreign Investors

    There are no restrictions on foreign investors investing in an Irish Private Limited Liability Company.

  • FORMATION

    Time Needed for Incorporation

    It usually takes between 5 - 10 working days to register a Private Limited Liability Company in Ireland.

    Shelf companies are available.

  • CONFIDENTIALITY

    Beneficial Owners

    The details of the beneficial owner are disclosed to the service provider and are not available on public record.

    Registered Shareholders

    The details of registered shareholders are available on public record.

    Directors

    The details of directors are available on public record.

    Financial Statements

    The accounts are publicly accessible.

  • FILING REGUIREMENTS

    Filing with the Registrar of Companies

    The Companies Registration Office allocates each company an Annual Return Date according to the company's incorporation date. Every company in Ireland is required to submit an annual return together with its financial statements to the Registrar of Companies within 9 months from its Annual Return Date.

    Filing with the Tax Authorities

    Every company needs to file an annual tax return together with its financial statements within 9 months from the end of its accounting year.

  • RECORDS

    Accounting Records

    An Irish Private Limited Liability Company needs to maintain accounting records.

    The accounting records should be maintained for a period of 6 years.

    The accounting records can be kept outside Ireland and in any currency.

    Financial Statements

    An Irish Private Limited Liability Company needs to prepare annual financial statements. These should be prepared under IFRS.

    A parent company is not required to prepare consolidated financial statements if, for the current and previous year, 2 of the following 3 criteria are met:

    • Balance sheet total assets less than €7,618,428;
    • Annual turnover less than €15,236,857;
    • Annual average number of employees less than 250.
  • AUDIT

    Audit Requirement

    The Law requires the annual accounts of an Irish Private Limited Liability Company to be audited.

    However, an audit exemption is available for an Irish Private Limited Liability Company which meets the following criteria for both the current and the previous accounting year:

    • Total turnover less than €7,300,000.
    • Total balance sheet assets less than €3,650,000.
    • Average number of employees less than 50.

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