Home 5 Start a Business in Ireland 5 Setting Up a Public Limited Company in Ireland

Setting Up a Public Limited Company in Ireland

Starting a Public Limited Company (PLC) in Ireland is a significant step for entrepreneurs seeking to raise capital and operate on a larger scale. Setting up a PLC involves adhering to specific legal and regulatory requirements to ensure compliance with Irish company law. Whether you’re an experienced business owner or launching your first venture, understanding the essentials of establishing a PLC in Ireland is critical.

Choose Your Company Name

The first step is selecting a unique name for your PLC. The name must:

  • Be distinguishable from existing registered companies with the Companies Registration Office (CRO).
  • Avoid restricted or sensitive terms unless proper permissions are obtained.
    You can check name availability online through the CRO website.

Register Your Company

Registering with the Companies Registration Office (CRO) is mandatory to establish a PLC in Ireland. You will need to provide:

  • The company’s registered office address is in Ireland.
  • Details of at least two directors and a company secretary.
  • A minimum of seven shareholders.
  • A constitution, which includes the memorandum and articles of association.
  • A minimum issued share capital of €25,000, with at least 25% paid up.
    The registration process can be completed online or via post, with applicable fees.

Understand Your Legal Obligations

Operating a PLC in Ireland comes with specific legal responsibilities, including:

  • Filing annual returns and audited financial statements with the CRO.
  • Paying Corporation Tax and complying with all relevant tax regulations.
  • Maintaining accurate company records, including minutes of meetings, and updating the CRO with any changes in directors, shareholders, or other statutory details.
  • Adhering to Irish Data Protection and Employment Law regulations.

Open a Business Bank Account

A dedicated business bank account is essential for managing your company’s finances. It helps keep personal and business finances separate, simplifies tax reporting, and builds financial credibility.

Consider VAT Registration

If your company’s taxable turnover exceeds €37,500 (services) or €75,000 (goods), VAT registration with the Revenue Commissioners is mandatory. Even if your turnover is below these thresholds, voluntary VAT registration can be beneficial for reclaiming VAT on business expenses.

Protect Your Business

Safeguard your PLC with appropriate insurance coverage, such as:

  • Public Liability Insurance: Protects against claims from third parties.
  • Employers’ Liability Insurance: Required if you employ staff.
  • Professional Indemnity Insurance: Covers risks related to professional services.

Conclusion

Setting up a Public Limited Company in Ireland is a structured yet straightforward process, provided you adhere to legal requirements and maintain good governance practices. Establishing a PLC can position your business for growth, offering the ability to raise capital and attract investors.

Ready to Launch Your Business?

Starting your PLC in Ireland requires careful planning and compliance with statutory obligations. If you’re ready to take the next step but need expert guidance, our team is here to assist. Contact us today to learn more about setting up your Public Limited Company in Ireland.

 

CONTACT US