Irish Companies’ Duties

Last modified – 05/02/2024

  • RBO registration :

All relevant entities are required to submit data to the Central Register of Beneficial Ownership (“the RBO”), except for companies listed on a regulated market.

A newly established entity has a period of 5 months from its incorporation to register its beneficial ownership with the RBO.

If a relevant entity fails to file a record with the RBO, it may be liable for an offense and, upon summary conviction, subject to a Class A fine of up to €5,000. In the case of conviction on indictment, a fine of up to €500,000 may be imposed.

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  • VAT registration :

Before applying for a VAT number, it is crucial to determine whether your business requires one. VAT registration is generally not necessary to start a new business in Ireland, except under specific conditions. Your business must meet certain criteria before applying VAT to your products or services.

Keep in mind that sole traders and limited companies may be eligible for VAT registration. If you decide that your business needs to register for VAT, we recommend consulting with an accountant, as VAT registration can add administrative work to your business.

To apply for a VAT number in Ireland, you typically need to provide the following:

  1. Proof of necessity.
  2. Business activity in Ireland.
  3. Invoices from Irish suppliers and customers.
  4. Information about the residence of directors.
  5. Physical office address.
  6. Supporting documents may include contracts, business plans, bank statements, and other relevant records.

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  • First annual account (6 months) :

The first annual return of a LTD (Limited Company) in Ireland must be prepared within 6 months after the date of incorporation, without attaching financial statements.

For example, a company incorporated on February 10, 2023, must file its first annual return (without financial statements) by August 10, 2023.

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  • Annual return :

A company’s annual return date is the last date by which an annual return must be prepared. The annual return must be filed with the CRO within 56 days from the date it is made up to.

For example, a company incorporated on February 10, 2023, must file its first annual return (without financial statements) by August 10, 2023. Upon filing this return, its next annual return date becomes August 10, 2024.

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