New Company vs. Shelf Company in Ireland

Starting a business in Ireland

A foreign entrepreneur coming to open a company in Ireland has two possibilities:
 

• -          to incorporate a new company;
• -          to purchase a ready-made company, also known as a shelf company.

There are advantages and disadvantages to both types of companies, but the choice belongs to the investor. Our specialists in company formation in Ireland can help whether you want to register a new company or buy a ready-made one.
 

Why register a new company in Ireland?

One of the main reasons certain investors choose to register a new company in Ireland is the fact that they feel more comfortable with choosing the type of entity from the beginning. This is mainly because, Irish shelf companies are usually registered as limited liability companies. However, one can change the type of company in accordance with their needs.

Also, the new Company Law in Ireland was recently modified in order to accommodate the establishment of new companies. For instance, no minimum share capital is required for setting up a private limited company. Also, the new legislation introduces three new types of companies you can find out more about from our specialists in Irish company formation matters.

Choosing to buy an Irish shelf company

The shelf company is the perfect choice for foreign enterprisers wanting to start operating right away. As the company is already registered one must only prepare the new Memorandum and Articles of Association and make any other changes they need. However, one should also take into consideration the fees related to the preparation of additional documents when it comes to Irish shelf companies.

New company or shelf company in Ireland?

If you want to start a business in Ireland and have not decided yet what the best option for you is, you can ask our specialists in company registration in Ireland. Below you will find a brief comparison between a new company and a shelf company in Ireland:

• -          a new company can be incorporated in maximum 10 days, while the shelf company is already registered;
• -          the shelf company can be a better choice if you are looking to apply for financing with an Irish bank;
• -          the new company can be incorporated as you desire without any modifications a shelf company could need.

From a taxation point of view, both types of companies will be subject to the corporate tax. No matter the type of structure you have chosen, you can contact our Irish company formation agents for assistance.