Set Up a Limited Company in Ireland
There are many steps and procedures that you must go through to set up a Limited Company in Ireland. This article will explain the different types of Limited Companies, the Corporation Tax rate that you will pay, the requirements for creating a Limited Company, how and where to register your company’s name and address, how to register for VAT, and what documentation you need to fill out and have.
Limited Company Types
There are five types of Limited Companies, all of them having limited liabilities on shares and small differences between them: A Private Company Limited by Shares (LTD), a Designated Activity Company Limited by Shares (DAC), a Company Limited by Guarantee Having a Share Capital (DAC), a Company Limited by Guarantee Not Having a Share Capital (CLG), and a Public Limited Company (PLC). Consult our company formation team and know more about company formations.
Limited Companies pay one of two Corporation Tax rates: 12.5% or 25%. You will qualify for the 12.5% CT rate if your company is based and controlled in Ireland and your employees and directors live in Ireland. If you do not meet the requirements, then your company will pay the 25% CT rate instead.
Requirements for Setting Up a Limited Company
- You need to be a European Economic Area (EEA) resident
- You need to hire a Company Secretary
- You need one or more shareholders
- You need a Constitution
- You need one or more directors who are EEA residents
Register Your Company Name and Address
You need to register your company’s name with Business Consulting Hub. Provide your potential company name and we will register it for you, if it is not already in use. Complete all the formalities and the registration process of Business Consulting Hub.
Keep in mind that this address must be in Ireland and that it will be available to anyone who searches for your business on the CRO’s website. We also offer a virtual address for your company in Ireland. Business Consulting Hub will send any legal documents received to that address to your actual address.
Register for VAT
If your company has a turnover of over €75,000 from selling goods or €37,500 from service sales, then you must register for Value Added Tax (VAT). The standard VAT rate for goods and services is 23%. Register for VAT through Business Consulting Hub and fill out our form for limited companies. Registration will be effective after Revenue receives and approves your application.
Relevant Documentation You Need to Have and Need to Fill Out
You need a Constitution for your company, depending on what type of Limited Company you want to set up. The Constitution lists your company’s rules, allows you to trade with legal businesses, and describes the relationship between your company, your shareholders, your director(s) and your other officers. We will assist you register your company name in Ireland..
We can also provide you with a bank account for your company in Ireland. We provide complete business consulting solution at a very minimal cost.