How to Start a Business in Ireland as a Foreigner
By Tasc
Published On May 29, 2021
One of the most common queries that comes under the Google search is whether a person can start a business or a company in Ireland if the main applicant is not an EEA-resident.
Well, the answer is quite simple.
Of course you can! You can start a business or a company in Ireland even if you are not an Irish citizen.
Setting up a company in Ireland from abroad not that difficult as it seems. If you are a non-EEA resident and if you want to start a company in Ireland, then you have to follow certain rules and procedures.
Before going into it, you must know that setting up a company in Ireland requires at least one EEA-resident director, a separate company secretary, an Irish address and share capital.
What should I do to start a company in Ireland if I am a resident in a non-EEA country?
If none of the directors are EEA residents or there is only one director who is not an Irish, then you must purchase Section 137 bond.
The bond for non-EEA resident directors to set up a business or a company in Ireland is called a Section 137 Non-Resident Directors Bond. This bond will help you to start a business or a company in Ireland even if you are a non-Irish citizen.
This bond secures against certain breaches of the Companies Acts and Taxes Acts for a period of 2 years and is worth up to €25,000.
How can I purchase a bond to start a company in Ireland if I am a non-Irish citizen?
It is possible to purchase the bond through a financial institution. You can also consult with any of the company formation experts in Dublin to simplify the process.
TASC Accountants are pioneers in company formation services in Dublin, Ireland with an unmatched experience of 15+ years. Therefore our company formation experts can take care of all the legal obligations for purchasing the bond.
As soon as you the purchase become successful, you can initiate your company formation process in Ireland same as that of other EEA residents.
What happens if I didn’t purchase the bond?
It is very important to obey the company formation rules in Ireland. If you initiate your proceedings without the bond, then you may face legal action and The Registrar of Companies will forcefully close down your entire proceedings with immediate effect.
So, are you ready to start your business in Ireland? Don’t hesitate to contact our Ireland company formation experts.
Why choose TASC Accountants to form your company in Ireland?
When you start registering your business on your own, you may feel confused during the process. TASC Accountants has been in this industry for the past 10+ years and when you set up your company with us, we will allot you a dedicated team of experts through the incorporation process. This team will focus on giving a real stress-free assistance throughout the process and help you to overcome all the hassles and complete your incorporation process successfully within a minimum time frame.
Contact our experts and experience the best company formation services in Ireland.
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