If you don’t know how to register a business in Ireland, here is a simple and quick guide providing you with all the information needed.
Registering a business in Ireland is not a complicated task, but it is mandatory if you are planning on undertaking a business activity in the country.
The Companies Act 2014 has simplified the business registration process by eliminating unnecessary bureaucracy. The Act brings a number of benefits to all types of companies throughout the country and was also part of the Government’s project of making Ireland the best small country where to conduct a business.
Today Ireland indeed is one of the best nations for business and was in fact ranked 11th in the Best Countries For Business list by Forbes.
So are you thinking about starting your own business in Ireland? Let’s see how you can do it!
How to Register a Business
Your business must be registered with the Companies Registration Office (CRO), which is the central repository of public statutory information on Irish companies and business names. It works together with the Department of Enterprise, Trade and Employment and is headquartered in Dublin.
You can register different types of businesses with the CRO, each one requiring a slightly different process. All the procedures can be carried out online and are definitely not time-consuming.
Register a Company
A company is one of the legal forms that a business can take. It is a separate legal entity, meaning that it is separate from the people who run it, and as such in case of debts the company, and not its owners, will be sued.
To register a company you will need to fill in a form on the CRO website and submit it together with a constitution.
The form must be completed with technical information about the company, such as the company name, its registered office, shareholders and directors. While the constitution is a document stating the internal management of the company.
It consists of a one document constitution for LTD companies and a Memorandum of association and Articles of association for the other types of companies.
Once registered, companies are also asked to file an annual return.
Register a Business Name
You are required to register a business name if you intend to establish a business, either as an individual, partnership or body corporate, under a name that is different from your true name.
To register a business name you have to submit a form and a registration fee of €20 (if the process is carried out online) or €40 (if you choose to do it in person) within one month of adopting the business name.
Register a Foreign Company
Business founded outside Ireland and wanting to establish a branch in the country also can register through the CRO website.
The process is rather simple and must be completed within one month of establishing the branch. Again, it requires filling in a form, which will be different for companies coming from EU member states (plus Iceland, Liechtenstein and Norway) and companies come from outside the EU.
Register a Limited Partnership
A partnership is a business conducted by at least two people that doesn’t take the form of a separate legal entity, i.e the partners will be responsible for any debts that may occur.
A limited partnership has – at least- one general partner and a limited partner, which will be held accountable only for the amount of money they invested in the company. On the contrary, the general partner is liable for the whole debt.
Also, companies of this kind must be registered in compliance with the Limited Partnership Act 1907, otherwise they will be registered as a general partnership.
In order to register a limited company a registration fee and a form is required.
To find out more about starting a business in Ireland, we suggest you also read how to set up a startup in Ireland.