Those who are interested in setting up a company in Ireland can register a business following the standard registration procedure, or they can opt to purchase a ready-made company. In order to make the purchase, due diligence is advised, and our experts in company registration in Ireland will provide this type of service.
| Quick Facts | |
|---|---|
|
Legal entities available for shelf companies | Private and public limited liability company |
Time required for purchasing |
A few days, depending on the availability of the desired structure |
Types of features it includes (corporate bank account, VAT number, etc) | Trading name, company bank account, statutory documents, company director, VAT and tax numbers |
| The advantages of a shelf company | Easy acquisition, VAT number and bank account, multiple uses |
| Appointing new directors (yes/no) | YES, company director can be replaced |
| Capital increase allowed (yes/no) | YES |
| Certificate of no commercial activities (yes/no) | NO |
| Modify the objects of activity of the shelf company in Ireland (yes/no) | YES, specific business licenses may be required |
| Participants in the purchase procedure |
The buyer or appointed representative and the seller |
| The cost of buying a shelf company in Ireland | The cost depends on the age of the company, legal structure, and share capital |
|
Documents necessary for the purchase | Sale-purchase agreement |
|
Taxes applied to a shelf company in Ireland | 12.5 % corporate tax |
| Changing the registered address (yes/no) |
YES, it is recommended to change the address of the company |
| Aged shelf company available (yes/no) | YES, old companies can be bought |
| The institution where corporate changes are registered | Irish Companies Register Office |
| Legislation applicable | Shelf companies are registered in accordance with the Companies Act 2014. |
Possibility to amend company name (YES/NO) | Yes |
Special purchase requirements for non-EU investors (YES/NO) | No, foreign investors do not need to comply with specific requirements to buy aged companies. |
| Common legal forms of shelf companies | Most entities are registered as private limited liability companies. |
| Due diligence requirements (YES/NO) | Due diligence is not mandatory but recommended if the company has been active. |
| Possibility to obtain special licenses (YES/NO) | Yes, after the purchase is completed. |
| Restrictions in using a shelf company (if any) | No, there are no restrictions on using ready-made companies. |
| Availability of nominee services with a shelf company (YES/NO) | Yes, these are usually employed by owners who do not want to move to Ireland. |
| Possibility to access loans through such entities | Yes, such a company eases business financing. |
| Possibility to hire employees (YES/NO) | Yes, one can hire employees through a shelf company. |
| Possibility to buy shelf companies online (YES/NO) | Yes, such companies can be acquired online, however, the transfer must be completed in person or through a proxy. |
| Advantages of Irish shelf companies | – no registration steps, – possibility to start operating right away, – possibility to incorporate a foreign company’s history in the Irish entity, etc. |
| Company documents amendment services (YES/NO) | Yes, we offer such solutions. |
| Support in buying a ready-made company in Ireland (YES/NO) | Yes, we can help you buy a shelf company in Ireland. |
| Assistance in starting a new business (YES/NO) | Yes, if you consider a new entity is a better choice, we can help you set up a company in Ireland from scratch. |
Table of Contents
What does an Irish shelf company come with?
It comes with:
- its statutory documents are all drafted up and only need to be amended;
- it will have a trading name that can be changed very easily with the Companies Registration Office;
- the company will also have a tax identification number; however, it may not have a VAT number;
- it will have a registered address, which is one of its greatest advantages;
- the company may also have a history that can be used for integration in another business.
Can I buy an Irish shelf company if I am a foreigner?
Yes, you can. There are no restrictions imposed on foreign investors, no matter their countries of origin.
What are the steps to buy a ready-made company in Ireland?
Our Irish company formation experts recommend first verifying several service providers, and then:
- choose the legal form that best represents your interests and contact the chosen provider;
- prepare your ID or passport to complete the acquisition procedure;
- complete the transaction.
Here is also an infographic on Irish ready-made companies:
What is the procedure for purchasing an Irish shelf company?
The main legal procedure involved in purchasing a ready-made company in Ireland refers to the share transfer, which will change the ownership of the company.
What are the main business forms for Irish shelf companies?
Companies that are available for purchase in Ireland are incorporated as limited liability companies. Most of the shelf companies are incorporated as private limited liability companies; however, they are also available as public limited companies.
Can I buy a shelf company in Ireland remotely?
Yes. Moreover, you can benefit from representation from our local specialists who only need a power of attorney to complete the purchase in a quick manner.
How long does it take to buy a shelf company in Ireland?
About 2 days, as it depends on how soon you send the documents. By documents, we refer to a copy of your passport if you are a foreigner.
What are the types of shelf companies available for sale in Ireland?
There are several ways to distinguish them:
- legal form: you can choose between private and public companies: the private limited liability form is preferred by most entrepreneurs;
- age: you can choose between newly registered and aged entities: the latter are usually 3 or several years old.
What do I get when buying a ready-made company in Ireland?
Most shelf companies come with:
- the trading name;
- the Articles of Association;
- the Irish registered address;
- the shareholder and director;
- the tax identification code.
Do Irish shelf companies have VAT numbers?
You can find shelf companies with or without VAT numbers, depending on your needs. However, in most cases, they do not have such a number. Also, the VAT registration procedure is simple to complete in Ireland.
Do shelf companies have Irish bank accounts?
Not all of them. For example, if you acquire a limited liability company that does not require a minimum capital, you can open the bank account after the acquisition and after all the changes have been made. Moreover, you can rely on us for completing this procedure.
You can follow the video below created by our Irish company formation specialists if you want to see the main steps for buying a ready-made company in Ireland:
Are there any restrictions on using shelf companies in Ireland?
No, there are no restrictions as to the sectors in which such companies can operate.
Do I need to obtain any additional licenses when I purchase a ready-made company?
It depends on the activities you want to undertake. There are sectors that require additional business permits which must be applied for.
What are the advantages of a ready-made company in Ireland?
The basic advantages of a shelf company are presented below:
- a suitable way to enter the Irish business market for foreign investors who are not familiarized with the incorporation procedure and the local laws;
- investors will only need to sign the purchase contract and then draft new articles of association and memorandum;
- it represents a suitable way of starting a business in the case in which the investors plan to obtain funding from a local bank;
- the purchase procedure can be completed in a period of 1-2 days, as opposed to starting a new company (which generally lasts approximately 10 days);
- it can help in having a more reliable business image in front of business partners, clients and financing institutions;
- it can be of help in the case in which the investors want to participate in various contracts, as the age of the company can be a criterion for the applicant companies.
Furthermore, investors interested in setting up a hedge fund or any other type of investment fund in Ireland are invited to visit our partners’ website.
Investors are invited to contact our team of specialists in company formation in Ireland for complete information regarding the purchase of a ready-made company.