Public Limited Company Formation
An Irish Public Limited Company is a suitable corporate entity to raise capital from either Venture Capital Firms or a limited number of investors. A Public Limited Company could also go public by way of a listing at the Irish Stock Exchange.
Irish Plc formation packages incl. Registered Office*
An Irish Public Limited Company formation can be ordered online and takes approx. 15 working days. Futuramax's online company formation system was designed to assist non-Irish residents to establish Public Limited Companies in Ireland.
All company formation packages include:
Company formation procedure: At the end of the online formation process we email all paperwork. The company officers need to sign and return the documents to us.
What is an Irish Plc?
Unlike the Limited Company a Plc can have an unlimited number of shareholders. Therefore the Public Limited Company is a suitable corporate entity for business projects which require funding by venture capital firms or when the shareholders plan to sell shares to investors or obtain a listing at the stock exchange.
Company Name Rules
The company name must be written in Latin alphabet. It may include words which are not in English or Irish as long as a translation of their meaning is provided. The company name ends with " Public Limited" (or its equivalent in Gaelic, "Teoranta").
We do provide a
free company name check for our clients. If the company wishes to carry on business under a different name (DBA - doing business as) a separate trading name registration is required.
Company structure of a Public Limited company
| Directors: Min. 2 directors (who may be of any nationality and resident anywhere in the world). Corporate directors are not permitted. There is no maximum number of directors. |
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Secretary: Either one of the directors or another person may serve as a secretary. Corporate secretaries are permitted. The secretary is not involved in company management tasks. Futuramax do provide nominee secretary and annual compliance services (recommended for international clients).
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Shareholders: At least seven shareholders, natural persons or companies, resident anywhere in the world is required. A Public Limited Company is not restricted in the number of its shareholders .
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Registered Office in Ireland
A
Registered Office address in Ireland is a legal requirement. Futuramax do provide Registered Office services in
Galway and
Dublin for an annual fee. Costs for the first year are included in all
formation packages.
Share capital
| Before a Public Limited Company commences trading (or exercises borrowing powers) at least 25% (9,523,03 Euros) of the minimum allotted share capital (38,092.14 Euros) must be fully paid. Plc's registered in Ireland require only a small amount of share capital compared to continental-European entities. |
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| Plc capitalisation: A Public Limited Company is the most appropriate type of company to raise capital, as long as the shares are not offered to the general public and the specific Irish company laws have been complied with. |
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| Stock Exchange listing: Some PLC's are being formed with the intention apply for a listing at the Irish Stock Exchange. Being independent business consultants, Futuramax can advise and assist in going-public projects. However, like anywhere else in the European Union, the process should be accompanied by specialised law firms (we can recommend well known experts). |
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Limitation of liability
The liability of shareholders is limited to the amount contributed (or owed) to the company.
Company documents Public Limited Company
| Certificate of Incorporation The original certificate of incorporation issued by the Companies Registration Office. |
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| Memorandum & Articles of Association Banks usually require a copy of the M&A when you open a bank account |
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| Share Certificates The share certificates provide proof of ownership. The shareholders should keep them save. |
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Optional Services
| Company Seal You will seldom need the seal in Ireland or Europe, but if you do business in Asia you should order one. |
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| Company Register (Statutory Books) The statutory books need to be updated when for example changes in directorship or share transfers occur. |
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| Nominee Secretary A useful service for non-Irish clients in order to simplify the company formation process and admin matters. |
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| Company Bank Account We open a bank account for your Limited company in Ireland. Bank accounts come with IBAN number and online banking facility (client has full control over the account). |
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| VAT Number We apply for a VAT number which is required to do business in the European Union. |
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* Fees quoted exclude Irish VAT @ 21%.
