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*
Company formation procedure: Our online formation system generates all documents required to register a Public Limited Company in Ireland. At the end of the online formation process we email the paperwork which all company officers need to sign and return to us. We then submit your company formation request to the Companies Registration Office and pay the registration fees on your behalf.
All company formation packages include:
Futuramax's online Plc formation system is designed to assist non-Irish residents to establish Public Limited Companies in Ireland.
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 |
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| Memorandum & Articles of Association |
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| Share Certificates |
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| Company Seal (mandatory for Irish Plc's). |
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| Company Register (Statutory Books) Included in Gold package. |
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| Nominee Secretary Included in Gold package. |
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| Company Bank Account We open a bank account for your Plc in Ireland. Bank accounts come with IBAN number and online banking facility (client has full control over the account). Included in Gold package. |
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| VAT Number We apply for a VAT number which is required to do business in the European Union. Included in Gold package. |
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* Fees quoted exclude Irish VAT @ 21,5%.
Apostille
