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Company Data Update with CRO and RBO

We understand that starting a business can be challenging. Our fees are affordable and come with excellent customer service.

Overview

Are you a fan of legal ways of business incorporation? Submission Of Information to RBO must be a part of your strategy. At Chern & Co, we provide you with an opportunity to make it effortlessly through our RBO filing service. Learn why you must submit information to your company and what is the cost of letting Chern & Co experts deal with all the associated hassle. 

CRO and RBO and Their Purpose

To better understand the purpose of filing information about your company to CRO and RBO, let’s make it clear what these institutions actually are.

To put it simply, RBO (Register of Beneficial Owners) is a central repository of all information related to a company. The purpose of RBO is to improve transparency and corporate trust of businesses in Ireland and the European Union by making it clear to law enforcement agencies, regulatory authorities and the general public who owns and controls an Irish-based business. 

RBO filing makes it easier to deter money-laundering and terrorist financing of business and helps law enforcement identify real owners of a business and prevent them from any illegal activities. 

CRO is a Company Registration Office. This is public statutory information on Irish companies and business names. All the essential steps in the Irish company setup process are made through CRO. These include company registration, business name registration, receipt of post-formation documentation etc.

Why Should you File Documents to CRO and RBO

Companies, industrial and provident societies will be required to file data with the central register of beneficial ownership and company registration office. Why? Wait no longer to see the answer.

This Is How You Make Things Official

CRO filing is the obligatory step in company registration in Ireland. To put a long story short, consider your company does not exist to the government and all legal institutions if it is not registered in CRO. If any changes in company information are made, including the changes to the company’s directors’ address, the corresponding adjustments should be made to the CRO register.

It is an Essential Requirement for AML

Under the AML (anti-money laundering) rules and the new Irish legislation, all new companies must submit information about their ultimate beneficial owners directly after the incorporation. Well, the law should never be ignored.

To Enable Transactions Procession

If you decide to bypass the legislation (which we highly do not recommend), expect to face the consequences. Bank institutions will not be able to complete any processing of transactions for such clients. It appears that some banks even refuse account opening to clients who do not incorporate their RBO filing before.

Advantages of CRO and RBO Filing Update with Chern & Co

If you have at least a basic grasp of how legislation in Ireland works, you may feel like RBO filing is not a problem for you. Well, you never know for sure. After all, it is always better to take a sigh of relief delegating all the legal matters to a third party. At Chern & Co, we believe that RBO filing is our superpower and offer at least three arguments why it is more than empty guessing. 

Time savings: save time on your core responsibilities instead of browsing CRO and RBO and collecting all papers your company needs to submit.
Boosted efficiency: our expert knowledge let us handle the submission process within the fastest terms and lowest expenses.
Affordability: no bragging but we are one of the very few companies that still care about your budget. We offer high-quality service at an affordable price of €90 (any applicable CRO fees are paid separately).

Apply for CRO and RBO Filing Update with Chern & Co

At Chern & Co, our mission is to make business easy and understandable. We believe that business needs to be transparent for all parties.  We help entrepreneurs establish a trustworthy business entity in Ireland and stick to all rules imposed by the Irish legislation. What we need is your documents and willingness to stay in touch. Do not hesitate to contact our managers! We are ready to answer all your concerns related to CRO and RBO company updates!

Disclaimer: This content of this page is for acquainting purposes only and is subject to change. It does not constitute any professional advice. No liability is accepted by Chern & Co for any actions taken or not taken in reliance on the information set out in this article. Professional, legal or tax advice should be obtained before taking or refraining from any action.

Company Data Update with CRO and RBO

What’s Included:

  • Assistance with CRO and RBO filing and update

What You Need To Know

Frequently Asked Questions

Setting up a company in Ireland carries plenty of benefits. These are the smooth process of annual returns submission, low Ireland corporate tax rate (lowest in the EU), official documentation in English, access to the European market, the brilliant reputation of Ireland as a business-friendly country, availability of progressive and educated workforce.

It takes just a few hours to fill in and prepare necessary company documents and forms. Once documents are submitted to the CRO, it usually takes 3-5 days to issue a company registration number. Due to the impact of Covid-19, the Companies Registration Office may process applications for up to 2 weeks.

Yes, there is no need to physically come to Ireland to set up a company. Certainly, you are more than welcome to visit the country. It’s beautiful! Forms are uploaded digitally using scanned pdf files of original signatures. Please note, CRO does not accept digital signatures done by typing a name or drawing a signature.

A company is a legal entity separate and distinct from those who own or run it. In order to incorporate a company a Form A1 shall be filled in and submitted together with a Constitution to the Registrar of Companies with scanned signed originals. Anyone can register a company themselves. However, it is advised to use a professional to ensure compliance with the Companies Act 2014. Each company must have a director and a secretary, must carry business in the state and have a registered office address in Ireland.

Limited company is a separate entity from a legal person. Ltd companies are limited by shares. If business is liquidated, the company’s liabilities are treated separately to those of its shareholders and directors, in a way, protecting them from debt and financial losses of the business itself. Partnerships, on the other hand, have limited and unlimited partners who are treated as legal persons. Unlimited partners are responsible for all debt and liabilities accrued by the business.

A company can be closed or wound up by a process called Voluntary Strike-Off. This is a quick and easy way to dissolve the company without any consequences for the founders and directors. Both trading and non-trading companies can be closed. The main criteria for eligibility would be no debts and no assets above €150. If this condition is not met, the company shall be liquidated or will be struck off the register by CRO by a process called Involuntary Strike Off with possibility of fine. Book in a free consultation to discuss winding up of your company.

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Chern & Co team offers Registered Office Address, Business Address, Company Secretary, Nominee Director, Nominee Shareholder and other professional services to international customers who need to set up a branch or present in the European Union.

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