Forming a Company

To form a company in Ireland the easiest option is to appoint a formation agent to form the company for you. The main advantage of appointing a formation agent is that the company will be formed faster. An agent using the CRODISK system can have a company incorporated within 5 days. Submitting the documents yourself can take up to 6 weeks. With an agent you may also get some added extras such as company seal and registers (but you will need to ask if these are included.) However, budgets can be tight in starting a company and some people choose to form the company themselves.

Whichever route you choose you will firstly need to decide on:

  • The company name (check if the name is available on the Companies Registration Office (CRO) website (www.cro.ie) or contact them by phone)
  • Who the directors will be
  • Who will own shares in the company
  • Who will be the company secretary
  • Where the registered office will be


Forming a Company Yourself

 

There are a number of different types of companies but the two most common used for small businesses are the private company limited by shares and the single member limited company (which is similar but has only one shareholder). To form one of these companies you will need to:

  • Complete Form A1 which must be witnessed by a solicitor, commissioner for oaths, notary public or peace commissioner. The form contains some useful notes on how to complete it.
  • Prepare Memorandum & Articles of Association which contain the main activities of the company and the rules on how the company will be operated. This must be signed by the shareholders and witnessed.
  • Submit Form A1 and the Memo & Articles to the CRO (address on page 6 of the form).

When the company is incorporated the CRO will issue a certificate of incorporation which should be kept in a safe place.

 

Other tasks

 

  1. The company will also need to be registered for taxes using Form TR2 (available on www.revenue.ie). It can take a number of weeks for the company to be registered so the form should be completed and submitted to your local tax office as soon as the company is formed.
  2. To open a bank account, you will need to produce your Certificate of Incorporation and Memorandum & Articles as well as the usual proof of identity.
  3. A company is legally required to keep certain registers of directors, shareholders etc. You can purchase software to do this or purchase a register from a stationery supplier.
  4. You can order a company seal from any good stationers. This is required for “stamping” legal documents.


See also:

Sole Trader V Limited Company

4 Things Every Director Should Know

5 thoughts on “Forming a Company

  1. Pingback: Setting up New Company in Ireland | Running a Business in Ireland

  2. Hi,

    Curious to know if it is possible to have a second director who is not directly involved in the management of the company, not paid a salary or have any legal responsibilities?

    Asking in a situation where there is a sole founder of the company who would own all shares and act as secretary but to actually set up and register the company they currently need a second director.

    Best options in a situation like this?

    Best,

    John

    • Hi John,

      You are correct that an Irish company requires at least two Directors. However, there are several types of Directors which can be appointed to a company. All Directors appointed to a company will have obligations and duties to fulfill as Directors.

      If you want to chat in more detail on forming a company and the meeting the requirements of company formation please forward your phone number to me and I will call you to discuss your query.

      Kind Regards,

      Maria

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