If you are planning to incorporate your business or want to understand the real costs involved in company formation, this guide will help you make informed decision. It includes initial setup costs, post incorporation costs and all ongoing costs.
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Key Takeaways
The basic cost to register a company in Ireland is €50 when filing through the CRO's online system (CORE), which covers company name registration, a basic constitution document, and formation of the company structure - but beware of making errors when doing it yourself that will cost you down the road.
Additional costs beyond the basic registration fee can include company constitution preparation, a company seal (approximately €50), business name registration (€20), and director identity verification (€150 per non-resident).
Every Irish company must maintain a registered office address in Ireland, with services available from companies like Open Forest for €199 per year for those without physical premises.
Irish companies require a company secretary, with Open Forest offering a digital company secretary service for €99 + VAT per year to handle statutory obligations.
Using a company formation agent like Open Forest can save time and reduce potential errors, though it adds to initial expenses.
Do I need to pay for a company secretary if I have two directors in my company?
If you have two or more directors, one can act as company secretary without additional cost. However, if you prefer to outsource this responsibility to Open Forest (you probably should) we take on this role for €99 per year.
Can I use my home address as the registered office address?
Yes, you can use your home address or business premises as your registered office address at no cost. However, many business owners choose to use a professional registered office service to maintain privacy and ensure reliable handling of official correspondence.
What happens if I don't register with the RBO after incorporating my company?
Failing to register with the RBO within five months of incorporation is a criminal offence that can result in significant fines. The filing itself is free, but many businesses choose to use professional assistance (typically costing €100-€250) to ensure accurate compliance with this important requirement.
Can I prepare and file my company's annual financial statements myself?
While legally possible, preparing compliant financial statements requires significant accounting knowledge and understanding of relevant standards. Most companies find it cost-effective to engage professional accountants to ensure compliance and avoid potential penalties.
How much does it cost to register a company name in Ireland?
The company name registration is included in the standard €50 CRO incorporation fee.
How long does it take to register a company in Ireland?
Standard registration takes 10 working days. Open Forest can set up a company for you in 5 days.
What is the fee to start a company in Ireland?
The basic CRO incorporation fee is €50. This covers your company name registration and your constitutional document. Additional professional services, if needed, will increase the total cost.
Does an Irish company need an Irish bank account?
While not legally required, an Irish bank account is highly recommended for practical business operations. Most banks require directors to appear in person for account opening, and monthly fees typically range from €20-€50.
Are there any cheaper options?
Yes! Sign up with Open Forest, this is the problem we are on a mission to solve.
