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Company Formation

Business owners may need to close their companies temporarily or permanently. However, there are limited options available for this situation. While there is plenty of advice on registering a limited company in Google search results, understanding the process of closing it requires more time. To learn about the duration and cost involved in company closure, you can explore the services provided by Chern & Co.


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Types of Company Closure

There are two “types” of Irish company closure. These are the windup (voluntary closure) and insolvency (involuntary closure).

Insolvency is a process of forced company closure initiated by a court. The High Court appoints the liquidator and supervises the liquidation process. How to Close a Company in Ireland

A company that has never traded or ceased to trade can proceed to a voluntary strike-off.  The required steps and conditions for a Voluntary company shut down in Ireland are the following:

  • Make sure you paid off all the debts (if there are/were any);
  • Make sure all annual returns and accounts are up to date;
  • The amount of any assets of the company must not exceed €150
  • Prepare a director’s statement that a company ceased trading or has never traded;
  • Directors’ and shareholders’ consent for company closure;
  • Sent a letter to the Revenue requesting a no-objection letter;
  • Prepare and submit the H15 form to CRO.
  • Get to learn all mandatory conditions for company closure in Ireland.

    Chern & Co can carry out a proper company closure procedure on your behalf sticking to all legal requirements. We believe that running a business doesn’t need to be a burden and so the company’s shut down. Contact our managers for more information or to proceed with company closure with Chern & Co.  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.

    What You Need To Know

    Frequently Asked Questions

    A Company a legal entity separate from its owners or shareholders. It’s created by a process known as incorporation under the Companies Act 2014. This separation means the company itself can own assets, incur debts, enter into contracts, and be held liable for its actions independently of its shareholders.

    CRO stands for Companies Registration Office. This is a statutory authority for registering new companies in the Republic of Ireland. The Office also registers business names.

    Ltd is an abbreviation for a Private Company Limited by Shares. This is the most common company structure in Ireland. Ltd companies can trade in any type of business that the directors and shareholders see fit – once legal of course.

    It usually takes around 10-14 working days to incorporate a company in Ireland depending on the workload in the Company Registration Office. However, it will take additional time to collect all the necessary papers for company incorporation from a client and prepare statutory documentation.

    Yes, company formation in Ireland is available for non-residents of EU and EEA. If you’re a non EEA or EU resident, you need a resident nominee director (the best solution) or purchase an insurance bond. Chern & Co can assist you with both options.

    At Chern & Co, we streamline the company registration process by offering a range of comprehensive company formation services and packages. The cost of minimum package is €249, however, the final cost may depend on your requirements.

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    Chern & Co Ltd
    18 Mallow Street Upper
    V94 N12Y

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    Monday to Friday
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    Company Registration: 604324

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