One of the best destinations for starting the procedure of Irish company formation is Galway, a city which experienced a rapid development in the last period. Its economy relies on business sectors such as tourism, manufacturing, healthcare, financial services and others. Considering that Galway is a coastal city, its maritime sector also represents a solid business activity.
Foreign businessmen can also invest in the city’s agriculture sector or the ICT industry or in retail. Depending on the chosen business activity, our team of consultants in company registration in Ireland can advise on the business permits necessary for a specific object of activity; investors can also request assistance in choosing a company type when investing in Galway.
What is the procedure for company formation in Ireland?
One of the ways in which our team of specialists in company registration in Ireland can assist local and foreign investors refers to the registration procedure available for a local business. Our consultants can provide information on the documents necessary for opening a company in Ireland and can also assist with the registration requirements imposed by any of the competent authorities. When opening a company in Galway, the following will apply:
- • choosing a business form – one of the most common ways to start a business in Galway, Ireland, is by opening a private company limited by shares, but investors also have the possibility of opening other corporate entities, partnerships or sole traders;
- • register a business name – the business name (or the trading name) registration is mandatory for all companies set up in Galway, Ireland, regardless of their business form;
- • register for corporate taxation – in order to be able to register for taxation in Ireland, which is done through the Irish Revenue, any new legal entity must own a company number issued by the Companies Registration Office (CRO);
- • opening a corporate bank account – this procedure is done after the company was incorporated and in order to be able to set up a bank account, the investors should provide the company’s statutory documents and to complete specific forms.
Obtaining business permits in Galway, Ireland
Most of the businesses registered in Ireland need to obtain various business permits and licenses. Such documents can be requested for the premises in which the company will carry its activities, for the company’s object of activity and for other purposes. Such licenses need to be renewed in a given period of time and in most cases, the renewal will require the payment of a fee.
Licenses are required when dealing with the trade of alcoholic beverages or when entering gambling operations in this country. The issuance of the latter type of license includes an application made to the Irish District Court, which, if approved, will be sent for further evaluation with the Revenue Commission, the institution in charge with the issuance of the license.
Licenses are also needed when a company is involved in selling food products, but also when modifying the premises where the business will develop its activity, even for minor changes. When building a construction project for a company in Galway, Ireland, construction permits will be required.
Can foreigners purchase ready-made companies in Galway?
Yes, both local and foreign investors are allowed to purchase ready-made companies in Galway and our team of consultants in Irish company formation can assist with advice on the legal procedure. The advantage of a ready-made company is that it has already been incorporated and registered with the local institutions in Galway, which means that the investors will have to complete only few steps in order for the company to become operational.
Assistance in obtaining the services of a virtual office in Galway
Our consultants can also represent investors in selecting the services of a virtual office in Galway, which is a cost convenient way to start a business here. If the company has a limited number of business activities, that do not require renting or purchasing a large office, the virtual office can become the ideal solution, as it provides a credible corporate image.
A virtual office provides a wide range of services necessary in the business environment, which can help investors in maintaining a close contact with their business partners or clients (a registered office, phone answering services, fax and mail services, teleconference rooms and others). Investors are invited to contact our team of specialists in company registration in Ireland for more information concerning other types of services we can provide when starting a business in Galway.