Know about Irish Company Setup

Know about Irish Company Setup


Ireland unprecedented economic growth in the recent years has drawn the interests of foreign investors from several countries, each wanting to strike a fortune by opening a company. The strong government support, sufficient infrastructure, skilled and a cost effective work force makes foreign investors more convinced to start up a business here. Moreover, well-defined business policies that promotes free trade, political as well as social stability and the country's favorable location in the continent of Europe all helps in the prosperity of any business. However, company registration in the country of Ireland is indeed a prolonged process as it involves the obtaining of permits from several sectors of the economy depending on the type of company to be set up.

Before opting for Irish Company Setup

one must be sure about Irish Company Setup. Registration option is open for three types of companies. They are the Thai Partnership, Thai limited company and the Thai representative office. The ordinary Thai partnership is a business setup owned by joint partners, sharing unlimited liability for all the company's obligations. Each partner is jointly and personally liable for debts and taxes of partnerships. The other forms or the Thai representative and the limited partnership are almost same as ordinary Thai partnership except they demand two further kinds of partnerships where the first has limited liabilities while the second has joint and unlimited liabilities. All the registration procedures, forms and required documents are in Thai, so in Irish Company Setup requires a lawyer who can communicate in Thai on your behalf.

Overall Procedure of Register a company in Ireland

The entire process of registration is carried out in a few steps involving: -Application for the permission for using the chosen name of the company either via websites or by registering yourself at the Department's Registrar. Paid in capital should be deposited in a bank with the shareholder's paying at least twenty five percent of the registered capital. Obtaining a corporate seal, this is only required for affixing company's share certificates. Getting approval for the company's memorandum of association and applying for company registration to make it a legal entity at the registrar of the private limited companies. The application made to get the memorandum of association registered should contain information like, company names, par value as well the number of shares, nature of business, headquarters' address; names, address and ages of the promoters, signature of each promoter etc. Submission of company works to the Ministry of Labour and to the office of Labour Protection and Welfare at the same district where the company's head office is located. The company works are verified by the Office of the Labour protection and Welfare before granting the final permission for a company to be set up.

The time taken by the entire process can vary from two or four weeks to months depending on the nature of employees at different levels of the procedure. Therefore, proceeding under the guidance of the prescribed rules and guidelines as laid down by the country would help in a faster process of Register a company in Ireland.
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If you need some help with registering your business, visit Register a company in Ireland