Company management in Ireland relies on the Corporate Governance Code which establishes guidelines for the best practices company directors and shareholders may employ when running their businesses. Corporate governance in Ireland is self-regulated and it is not a law itself, but the Irish Companies Act provides the legal requirements for company management. Other laws regulating company management in Ireland are:
For details about corporate governance standards you may refer to our specialists in company formation in Ireland.
In 2014 the Commercial Code was modernized in order to allow company management to be more efficient. The new Commercial Law was enabled this year and now company directors should benefit from improved regulations for corporate governance, as Volume 1 in the legislation is dedicated to the best practices for managing Irish companies. The new Commercial Code establishes new requirements for company directors and secretaries. Among these, directors of Irish companies may start discharging their function at the age of 18. Irish company secretaries are also required to have certain skills to fulfill their duties. The new legislation also allows Irish limited liability companies to have one director.
The management board of an Irish company is responsible for directing the company and to ensure the best management strategies are in place.
Depending on the type of company, the board structure is required to fulfill certain requirements. In case of Irish public companies are required to declare their remuneration policy. Listed companies are required to have appropriate remuneration policies based on the recommendation of the European Commission.
With respect to Irish limited liability companies, the management board is required to file certain information with the Companies Register, information which will be made public. Foreign companies with subsidiaries in Ireland are also required to disclose certain information about the parent company, among which its registered address.
For additional information about company management or for company formation services, please contact our experts in Ireland.