• Current students
      • Student centre
        Enrol on a course/exam
        My enrolments
        Exam results
        Mock exams
        Learning Hub data privacy policy
      • Course information
        Students FAQs
        Student induction
        Course enrolment information
        F2f student events
        Key dates
        Book distribution
        Timetables
        FAE elective information
      • Exams
        Exam Info: CAP1
        E-assessment information
        Exam info: CAP2
        Exam info: FAE
        Access support/reasonable accommodation
        Extenuating circumstances
        Timetables for exams & interim assessments
        Interim assessments past papers & E-Assessment mock solutions
        Committee reports & sample papers
        Information and appeals scheme
        JIEB: NI Insolvency Qualification
      • CA Diary resources
        Mentors: Getting started on the CA Diary
        CA Diary for Flexible Route FAQs
      • Admission to membership
        Joining as a reciprocal member
        Conferring dates
        Admissions FAQs
      • Support & services
        Recruitment to and transferring of training contracts
        CASSI
        Student supports and wellbeing
        Audit qualification
        Diversity and Inclusion Committee
    • Students

      View all the services available for students of the Institute

      Read More
  • Becoming a student
      • About Chartered Accountancy
        The Chartered difference
        What do Chartered Accountants do?
        5 reasons to become a Chartered Accountant
        Student benefits
        School Bootcamp
        Third Level Hub
        Study in Northern Ireland
        Events
        Blogs
        Member testimonials 2022
        Become a Chartered Accountant podcast series
      • Entry routes
        College
        Working
        Accounting Technicians
        School leavers
        Member of another body
        International student
        Flexible Route
        Training Contract
      • Course description
        CAP1
        CAP2
        FAE
        Our education offering
      • Apply
        How to apply
        Exemptions guide
        Fees & payment options
        External students
      • Training vacancies
        Training vacancies search
        Training firms list
        Large training firms
        Milkround
        Recruitment to and transferring of training contract
        Interview preparation and advice
        The rewards on qualification
        Tailoring your CV for each application
        Securing a trainee Chartered Accountant role
      • Support & services
        Becoming a student FAQs
        Who to contact for employers
        Register for a school visit
    • Becoming a
      student

      Study with us

      Read More
  • Members
      • Members Hub
        My account
        Member subscriptions
        Annual returns
        Application forms
        CPD/events
        Member services A-Z
        District societies
        Professional Standards
        Young Professionals
        Careers development
        Diversity and Inclusion Committee
      • Members in practice
        Going into practice
        Managing your practice FAQs
        Practice compliance FAQs
        Toolkits and resources
        Audit FAQs
        Other client services
        Practice Consulting services
        What's new
      • In business
        Networking and special interest groups
        Articles
      • Overseas members
        Home
        Key supports
        Tax for returning Irish members
        Networks and people
      • Public sector
        Public sector news
        Public sector presentations
      • Member benefits
        Member benefits
      • Support & services
        Letters of good standing form
        Member FAQs
        AML confidential disclosure form
        Institute Technical content
        TaxSource Total
        The Educational Requirements for the Audit Qualification
        Pocket diaries
        Thrive Hub
    • Members

      View member services

      Read More
  • Employers
      • Training organisations
        Authorise to train
        Training in business
        Manage my students
        Incentive Scheme
        Recruitment to and transferring of training contracts
        Securing and retaining the best talent
        Tips on writing a job specification
      • Training
        In-house training
        Training tickets
      • Recruitment services
        Hire a qualified Chartered Accountant
        Hire a trainee student
      • Non executive directors recruitment service
      • Support & services
        Hire members: log a job vacancy
        Firm/employers FAQs
        Training ticket FAQs
        Authorisations
        Hire a room
        Who to contact for employers
    • Employers

      Services to support your business

      Read More
☰
  • Find a firm
  • Jobs
  • Login
☰
  • Home
  • Knowledge centre
  • Professional development
  • About us
  • Shop
  • News
Search
View Cart 0 Item

FDI Republic of Ireland

☰
  • Home
  • FDI and the Irish economy
  • Setting up a business in Ireland
  • Tax in Ireland
  • Chartered Accountants Ireland and FDI
  • Contact details
  • Home/
  • Knowledge centre/
  • Guidance/
  • FDI/
  • FDI-ROI/
  • Setting up a business in Ireland

Useful Links

Download PDF

Companies Registration Office      

Setting up a business in Ireland

 On this page:

  • What business structures are available in Ireland?
  • What are my duties as a company director?
  • What are the filing requirements for my company?
  • Does my company require an audit?
  • Financial reporting

What business structures are available in Ireland?

The starting point for any commercial investment decision is the choice of investment vehicle.  The choice of which structure to adopt is an important one for filing and auditing requirements.  There are a number of different business structures operating in the Republic of Ireland, starting with a company.

All public statutory information on Irish companies is kept in the Companies Registration Office (CRO). The CRO’s Information Unit may be contacted between 9:30am – 4:30pm at 00 353 1 804 5200.  The CRO may also be contacted by email at info@cro.ie.  The different types of business structures available are listed below and see the brochure for more information.

   

Limited company

The shares of a limited company are owned by its shareholders.

Unlimited company

As opposed to a limited company, an unlimited company has no limit on the liability of the members. 

Partnership

A partnership is an association of persons business in common

Foreign companies

A foreign company (those incorporated outside of Ireland) may conduct business in Ireland either through a branch or a place of business.

Financial services

More than 250 global financial institutions have established operations in Ireland.  Ireland’s International Financial Services Centre (IFSC) in Dublin was created by the Irish Government in 1987. It is home to a broad range of global financial services companies such as banks, insurance operations, leasing, fund management, fund administration, securitisation and more recently Islamic financing.  The industry is supported by a sophisticated network of financial advisors such as lawyers, accountants, fund administration and regulatory specialists.  All financial institutions are licensed and regulated by the Central Bank of Ireland.  Companies can raise funds on the Irish stock exchange provided they meet the criteria required prior to making a public offer.  Listed companies are also required to comply with the listing rules.   See the brochure for more information

top of page

 

What are my duties as a company director?

The executive powers of a company lie with the directors who are responsible for the day-to-day running of the company.  A director is defined as ‘including any person occupying the position of director by whatever name called’.  All companies must have one secretary and a minimum of two directors, one of whom is required to be an EEA-resident, unless the company holds a bond to the value of €25,400.  Formal qualifications are not required to become a director.  However, certain persons are precluded from becoming directors including a body corporate, an undischarged bankrupt and the auditor of the company.  There are restrictions on the number of directorships a person may hold if they are director of a financial institution as regulated by the Central Bank of Ireland. See the brochure for more information

top of page

 

What are the filing requirements for my company?

All Irish companies and some foreign companies operating within the Republic of Ireland are required to file an annual return.  Depending on the type of company incorporated, accounts may also be required to be filed with the annual return, as outlined in the brochure.

top of page

 

Does my company require an audit?

The requirement for company financial statements to be audited is determined by their size and nature.  The majority of Irish companies require an audit by independent accountants, unless they are entitled to claim exemption on the basis of size, as discussed in the brochure.  An audit is the process of checking that the way an organisation presents information about its financial position is true and fair.  True and fair means that, in the auditor’s opinion, the company’s financial statements offer a true and fair view of its actual financial position and that any assumptions they include are reasonable. 

top of page

 

Financial reporting

The financial statements of most Irish companies may be prepared in accordance with either international financial reporting standards (IFRS), as adopted by the EU, or in accordance with generally accepted accounting principles (GAAP) in Ireland.  Accounting standards generally accepted in Ireland are those issued by the UK Accounting Standards Board (ASB), which are amended for Irish company law when relevant and published by Chartered Accountants Ireland. 

EU regulation requires all listed EU groups to prepare their consolidated financial statements in accordance with standards and interpretations issued (or adopted) by the International Accounting Standards Board (IASB) that have been adopted in the EU (EU-adopted IFRS).  Where IFRS accounting is adopted by companies, specific tax legislation is in place to deal with the changes in accounting and the transition adjustments to the accounts on the change to IFRS, such as the tax treatment of leasing, the tax treatment of securitisation companies using a different accounting framework and clarity around disallowance of fair value charges through the income statement for tax purposes.  The tax legislation is supplemented by detailed guidance notes.  In addition, there is on-going consultation with industry groups and the large accountancy practices with a view to identifying areas where additional clarification on the tax issues is required.  The area of taxation is covered in more detail later in the guide.

See the brochure for more information on

top of page


 

The latest news to your inbox

Useful links

  • Current students
  • Becoming a student
  • Knowledge centre
  • Shop
  • District societies

Get in touch

Dublin HQ

Chartered Accountants
House, 47-49 Pearse St,
Dublin 2, D02 YN40, Ireland

TEL: +353 1 637 7200
Belfast HQ

The Linenhall
32-38 Linenhall Street, Belfast,
Antrim, BT2 8BG, United Kingdom

TEL: +44 28 9043 5840

Connect with us

Something wrong?

Is the website not looking right/working right for you?
Browser support
CAW Footer Logo-min
GAA Footer Logo-min
CCAB-I Footer Logo-min
ABN_Logo-min

© Copyright Chartered Accountants Ireland 2020. All Rights Reserved.

☰
  • Terms & conditions
  • Privacy statement
  • Event privacy notice
  • Sitemap
LOADING...

Please wait while the page loads.