Company Formation and Services Prices

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1st Year – LTD

Registration (LTD) 250 residents / 300 non-residents

Registered Address 240

Nominee Secretary 250

Nominee Director – resident of EU (incl.  POA with apostille) 1000

Apostilled set of corporate documents 100

First Annual Return (due 6 months after incorp.) 150

Courier 50

Total Package Cost: €1800 (saving €290)

2nd Year – LTD

Registered Address 240

Annual Return 250

Irish Nominee Director (incl. POA) 800

Nominee Shareholder (Irish resident)

Nominee Secretary 250

Courier 50

Total Package Cost: €1200 (saving €390) 

1st Year – Limited Partnership

Registration (LP) 200

Registered Address 240

Nominee General Partner (Individual) 1000

Apostilled set of corporate documents 100

Courier 50

Total Package Cost: €1200 (saving €390)  

2nd Year – Limited Partnership

Registered Address 240

Admin fee 200

Nominee General Partner (Individual) (incl.  POA with apostille) 800

Courier  50

Total Package Cost: €1000 (saving €290)  

Incorporation – €250

Annual Fees (Provision of Registered Office) – based on volume of work (minimum €400 for 0-trading company annual return and tax return)

Government Fee (if any)

Certificate of Good Standing – €50 per each application

Certificate of Incumbency – not needed in Ireland. Maintaining company register is sufficient

Apostille per Document – €70 for one, €60 for 2-3, €50 for 4 or more

Apostille per set, same as per single and if set has a cover sheet. If set needs to be prepared, then –

Notarise per document – €50

Liquidation – depends if audit is required and timeframe (price for everything starts from €1000)

 

 

For bookkeeping, we usually charge €0.50 per transaction. 2 transactions (entry + processing payment) are typically required for each bill, receipt, credit note etc.
Alternatively, we offer another option of paying €40 per hour based on total time spent processing receipts and entering transactions.
For accountancy, we charge by returns:

  • €150-250 for CRO Annual Return
  • 250-400 for Corporation Tax Return
  • €30 for monthly/quarterly VAT returns
  • €150-250 for VRT annual return

The accountancy cost for the year can be estimated around 5% of the business turnover.

Each client is different, it depends what work the client does themselves and how well books are maintained.

LP REGISTRATION

 

Required Steps

To form a limited partnership, complete the following forms and post them to us:

  • Form LP1 (Application for registration of a limited partnership)
    This form must be signed by both the general and limited partners.
  • Form LP3 (Statement of the capital contributed by the limited partners)
    Statement of the capital contributed by the limited partner(s). The form must also be signed by any one of the general partners.

There will be a third form to register the name as well, it will have details from the first 2 forms. We will generate it electronically.

Costs:

  • €150 for the partnership registration
  • €70 for the business name registration.

€220 in total

 

 

SHELF COMPANIES:
The company sale price is €400.

It is immediately available to trade.

For us to amend all the details, provide a company sale agreement, change shareholders, issue new share certs, submit forms to CRO, it would take 1 day (can do on the same day). And we would charge €250.

 

 

We need proof of ID and proof of address for both the secretary and director(s) if individuals.

If secretary is the company, could you please supply a copy of their company registration or tax certificate as a proof of address and company number and proof of ID of the individual representing the company.

 

TRUST FORMATIONS:

  • Long-term Nominee Director with Declaration of Trust, Power of Attorney, Agreement – €2000 (per year)

 

 

Our fees for frequently used services are listed below:

  1. €70 – business name registration (once off)
  2. €70 tax registration with Revenue (once off)
  3. €240 for registered office address (recurring per year)
  4. €1500 – remote opening of an Irish bank account without a client being present in the country (once off)

 

Optional services:

  • Company seal – €49 (Irish companies require to have a seal for legal purposes)
  • 1st company annual return to Companies Registration Office – €90 (it has to be filed in after 6 month of the incorporation, no accounts are required to be submitted with it)
  • Accountancy and Bookkeeping

Here is more information on what the process involves:

After we receive all necessary information, we will prepare forms for the Companies Registration Office (CRO) and send them to you to sign. You will need to return the forms to us. Once we have signed originals, it takes between 1-7 working days to process depending on CRO availability.

Private Company Limited by shares:

  • There should be at least one Director (maximum of 99) and a Secretary. If there is only one Director, the same person cannot be also a Secretary. If there are more than one Directors, it is possible for the same person to be also a Secretary. One of the directors is required to be resident in a member state of the European Economic Area (EEA).
  • Another company can act as a Secretary (we provide such service starting as €250 per year)
  • There should be at least 1 Shareholder. Shareholders can be represented by a natural person or another company.
  • 100% of total shares will be divided according to your instructions among all Shareholders.
  • Start-up capital is usually €100 (the equivalent of 100 shares of €1 each)
  • The company will have an authorised capital of €1 million (you can sell and issue shares for this amount to future shareholders if you wish in the future)

 

 

  • First Annual Return – €90 (6 month after incorporation)
  • Accounting and Bookkeeping – based on volume of work (minimum €400 for 0-trading company annual return and tax return)

Extras:

  • Certificate of Good Standing – €50 per each application
  • Apostille per Document – €70 for one, €60 for 2-3, €50 for 4 or more
  • Apostille per set, same as per single and if set has a cover sheet. If set needs to be prepared, then –
  • Legalisation with Notary per document – €50

An Irish company allows you to sell everywhere including Europe, US and with other countries. There are no limits.

It has a low corporation tax rate of only 12.5% on profits. Nonprofits – you don’t pay anything.

It takes us 3-5 days to register a company. For bank opening, it is usually 2 weeks.

 

Remote bank account opening in Ireland

There is a possibility for us to open a bank account remotely with AIB without a client coming to Ireland.
Good news as now both non-residents and residents are treated the same.

The bank will ask for:

  1. original CRO cert
  2. copy of original or certified copy of constitution
  3. proof of ID of directors (e.g. passport) – certified copy by a solicitor or a notary at the place of residence
  4. proof of address – original or certified copy of utility bill or bank statement (not older than 3 months)
  5. proof of trading capability – a letter on headed paper about the company’s plans to start trading (mentioning expected turnover, potential clients and any other relevant information indicating that a company will have business activity and where main trading will take place)

The fee is €500 to open a bank for non-residents

The company must register for Corporation tax. We charge €70 for this service.
If the company plans to have employees in Ireland, it should also register for Employer tax -> this is an extra €20.

If you are happy to proceed, we will issue the invoice, confirm cleared payment, then prepare forms for the bank and engage with the branch manager to get preliminary approval. The bank then will ask for documentation, that your clients need to provide. Then it goes to the head office for approval. In some cases, the bank may ask for certified translation if documents were provided in another language. www.TRANSLIT.ie will take care of that. The translation cost is extra.
Once all documents are received, a bank is usually opened within 7-10 days. A separate application can be then put for debit card. A separate application can be put for online business banking (IBB). We charge €50 to prepare each application for the client to sign and deliver it to the bank when originals are received.

Complete cost for remote bank account + online banking + debit card = 1500.

One of the quickest ways to open a bank account for a remote client is to have a local secretary. Chern & Co Ltd can become a temporary secretary of the company with an address in Ireland. A bank account is opened, then the secretary can change notifying the customer. In most cases, a bank account can be opened without changing secretaries. If the bank rejects it, by doing it this way, it works in almost every case. Annual secretarial services start at €250.

If the company wishes to register for VAT, this process takes a bit more time and requires additional information:

  • Revenue must establish that the company will have measurable trading done in Ireland (clients or suppliers or both must be located here, employment opportunity will also be looked at)
  • The company should have sufficient turnover

VAT registration starts at €300 for non-residents. Depending on Revenue’s position, they may keep coming back asking for more information and this will add more hours of work. Worst case – €500.

Please let us know how you wish to proceed and if you have any questions.

Company Formation and Services Prices

 

Company Formation – €250

Business Name registration – €70

Tax registration – from €50

Annual Fees (Provision of Registered Office) – based on volume of work (minimum €400 for 0-trading company annual return and tax return)

Tax Clearance / Certificate of Good Standing – €50 per each application

Apostille per Document – €70 for one, €60 for 2-3, €50 for 4 or more

Apostille per set – same prices as above per set + additional €20 for preparation

Notarise per document – €50

Liquidation – depends if audit is required and timeframe (price for everything starts from €1000)

Installation of Thesaurus payrol software – €140 (cheaper than directly from Thesaurus)

Set up and configuration of Sageone accounting using Sageone – from €90

Set up and configuration of Waveapps accounting to accept creadit card payments online and over phone – once off cost of €100 (no monthly charges)

 

For bookkeeping, we usually charge €0.50 per transaction. 2 transactions (entry + processing payment) are typically required for each bill, receipt, credit note etc.
Alternatively, we offer another option of paying €40 per hour based on total time spent processing receipts and entering transactions.
For accountancy, we charge usually by returns:

  • €150-250 for CRO Annual Return
  • 250-400 for Corporation Tax Return
  • €20-30 per monthly/quarterly VAT returns
  • €150-250 for VRT annual return
  • €5-10 per payslip
  • €10-20 per P30 return
  • €150-200 for P35 return

The accountancy cost for the year can be sometimes estimated around 4-5% of the business turnover.

Each client is different, it depends what work the client does themselves and how well books are maintained.

 

All prices are subject to 23% VAT.

 

ANTI-MONEY LAUNDERING: 2016 update

 

Please note, Anti-Money Laundering requirements have become more strict in Ireland and European Union. There has been a number of announcements and changes sent to company formations agents. We were instructed to keep proof of ID and proof of address of beneficial owners and members of the company, meaning that if a legal entity is a member of the company, then the same documents should be provided for the owners of that company who control over 25% of shares. If that company has another company owing it with 25% shares, then the proof of ID has to be supplied for its owners as well until the final beneficiaries are established.

I have included the recent updates for your record below:

The CRO has been asked by the Department of Finance to forward the information below to company formation agents.

Part of your CDD obligation is to determine who the Ultimate Beneficial Owners are of a company ( any person who owns more than 25% of the company) and carry out CDD on that person. In the case of a company that owns another company, you must determine the ownership structure of the company until you reach the UBO, keep on file evidence that links the company to the UBO and carry out the appropriate CDD on the UBO.

Enclosed below is a link to statutory instrument No. 560 of 2016 entitled ‘European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016’. This statutory instrument requires corporate and other legal entities incorporated within this State to hold adequate, accurate and current information on their beneficial ownership, including details of the beneficial interests held. It has a commencement date of 15 November 2016. A background note providing more details on the SI is also attached for information.

The statutory instrument transposes the first sub-paragraph of Article 30(1) of the Fourth Anti-Money Laundering Directive (4AMLD). The rationale for transposing this provision in advance of the rest of the 4AMLD is that in order for the central register of beneficial ownership (required by Article 33(3) of 4AMLD) to be effective from as early a date as possible after full transposition, corporate entities will need to initially gather the necessary beneficial ownership data and to record same in their own corporate beneficial ownership registers.

Work has commenced on putting in place a central register of beneficial ownership, but such a register is unlikely to be in place until the middle of next year. Any queries in relation to the statutory instrument can be sent to the following email address aml@finance.gov.ie

http://www.finance.gov.ie/publications/legislation/statutory-instruments/si-560-2016-european-union-antimoney-laundering

 

To confirm the prices for future companies:
business name registration:

electronic: €70
manual: €100
Corporation tax registration (form preparation and submission):
electronic: €50 (Irish address, single Irish resident shareholder with valid PPS No.)
electronic: €70 (Irish address, 2-3 Irish shareholders with valid PPS No.)
manual: €100 (Irish address, Irish resident 2-3 shareholders)
manual: €150 (Irish address, foreign shareholders)

 

Corporation tax may involve verification from Revenue requesting additional information. Each request is deal with separately and charged per time required to address it. Usually, it’s 1-2 hours charged at €50-80 flat rate per request.

 

Please note, we now provide Registered Office Address services in top 3 Irish cities: Cork, Limerick and Dun Laoghaire – prestigious town in Co. Dublin.

The fee for ensuring dormant accounts compliance with CRO: €200

It includes:

  • CRO fee of €20 (for electronic submissions)
  • Preparing and filing B1 form
  • Postage fees
  • Preparing and filing Financial Statements and Directors’ Report with the return

Please note, our standard rates for Irish residents is €200 and €250 for non-residents for dormant accounts compliance with CRO. And €250 and €300 respectively for an operating company return. You are paying resident’s rates as part of our agent’s cooperation offering.

To proceed, we will require information on the current members of the company and perform due diligence (proof of ID and address as usually)