Registering a company in Ireland - What are its pros and cons

Ireland has emerged as a preferred destination for the multinational firms seeking to establish operations in Europe. This is because the UK has an efficient and skilled workforce, low business taxes and has the opportunity to access the EU single market. These are some basic things that you should know if you are planning to register a company in Ireland.

Company Registration Basics

Are you looking forward to registering a company in Ireland? The process of registration of a new company can be streamlined. Experts can help you register online in a few days. To register, one must select a special company name, have a minimum of one director/shareholder, fill in the details of such individuals, specify the physical address of the company, and pay a registration fee.

Some of the legal formalities that one is bound to adhere to after registering include the annual returns and accounts. But in general, Ireland wants to ensure that the registration of the company is easy.

The Advantages and Disadvantages

The benefit of using a shelf company in Ireland is that it takes less time to incorporate since most of the paperwork is already done.

The advantages of a shelf company include:

●       Shorter time to get started – no waiting for weeks to incorporate

●       Company history - Provides a sense of stability to the partners and lenders

●       Less incorporation expenses – generally less than the custom incorporation

The flip side is there is less freedom when choosing your company name or type of company. But shelf companies still enable you to nominate directors/shareholders.

Getting Expert Assistance

There is a wealth of company formation agents and law firms in Ireland which can advise and assist on company formation whether from new or through a shelf company. In particular, if you are an overseas investor, it may greatly benefit you to have someone help you navigate through what applies to the Irish jurisdiction, the different legal structures and what a company needs to do after it has been incorporated.