Ireland private companies

Private Limited Company

Private Limited Company is the most frequent entity for commercial, private businesses and ventures. This type of company is limited by shares and liability of the members are defined in Memorandum to the amount on the shares respectively held by them.

A small or medium sized company needs only file abridged audited accounts at the Companies Registration Office (CRO). There is option for the Audit Exemption if the turnover of company is less than €7,400,000. It is important to note than an Annual Return must be filed every year with the C.R.O. regardless of whether the company has traded or not.

A private limited company normally consists of 1-4 shareholders but can have more, up to a maximum of ninety-nine. When a private limited company has only a single shareholder, this is known as a Single Member Company. Corporate shareholders are allowed. Private Limited Company must have a minimum of two directors which must be private persons. Corporate directors are not allowed. The directors can be of any nationality but one of the company directors must be resident in member state of the European Economic Area. The EEA is all of the EU plus Iceland, Norway and Liechtenstein. In the absence of such director the company may enter into a surety bond in the sum of €25,395. Every limited company must have a company secretary. This may be one of the named directors or another person.

If you have questions about different type of entities in Ireland, do not hesitate to contact us.