Index of our other Services
- Authentication and Apostille of documents service
- District court application to restore lost audit exemption
- Company search
- Company seals
- Provision of company bank accounts
- Preparation of Non-Trading/Dormant Company Accounts
- Issue or transfer of shares
- Summary Approval Procedure
Authentication and Apostille of documents service
An Apostille is the certification of a document by government authorities so that the document is legalised and authenticated for international use. It is an international certification comparable to a notarisation in domestic law. Countries that have signed up to be part of The Hague Convention for Legalisation of Foreign Public Documents will accept such certified documents between them.
Thomond Company can assist you with the apostille of documents for an Irish Company in just 2 working days. We can also assist with arranging other certified documents such as those certified by the Companies Registration Office in Ireland and also arranging Notary certification of documents. We also have an in-house Commissioner for Oaths who can certify most documents for you.
District Court Application to restore lost audit exemption
The Companies Act 2014 has introduced a District Court Application for companies who have missed their filing deadline for their annual return. The Application allows the company to retain their Audit Exemption which is otherwise lost for 2 years and reduces late filing fees to €Nil.
The application must be made by a Barrister or solicitor to the District Court where the Registered Office is located. A company can change their registered office prior to the application and then change it back to its original address after the order has been issued.
District Court Application procedure:
- Complete order form.
- The application is made to the Court to receive a date for the hearing.
- A copy of the Affidavit and Notice of Motion is served on the Companies Registration Office who in turn, release their Letter of Consent.
- The Affidavit and Declaration of Service is filed before the Court Date.
- When the Order is granted, it is filed with the Registrar of Companies and the company has 28 days to deliver their Annual Return/s and Accounts to the CRO of the new extension date.
For more information on the District Court Application or to proceed with an application, please do not hesitate to contact the experts in Thomond Company on 061-411000 or email firstname.lastname@example.org You can also fill out a contact form on our website and an expert will be in touch as soon as possible.
Irish Company Search Service
Thomond Company can provide you with an Irish Company Search Service
We provide the following information:
- The name of the Company and Company Number
- The address of the Registered Office
- Names and Address of Directors
- Names and Address of Shareholders and the amount of shares held by each shareholder
- Nominal and Issued Share Capital
- Last Annual return Date
- Mortgages and Charges
- Business Name Searches
The results of the search can be emailed to you on the same day as the request.
Under Irish legislation, each Irish Company must have a company seal with their Registered business name & company number included. Official documentation, for example share certificates, must be embossed with a company seal beside officer’s signatures.
Thomond Company can supply company seals and desk company seals for all new and existing companies. These high quality seals have a 38mm in diameter round seal, can emboss paper up to 120 gsm and can fit up to 50 characters on the seal. Our price for a pliers company seal is €50+VAT.
We can also arrange for the bespoke manufacture of a desk company seal, which is a free standing company seal that is suited to regular desk use and does not require assembly. Our price for a desk seal is €95+VAT.
Postage and packing: €3.50 for Pliers Seal
To discuss your requirements and our service, contact us at email@example.com or +353 61 411000
Provision of Company Bank Accounts
Thomond Company can assist you with opening a corporate bank account for your new Irish company formation. We have an excellent working relationship with key contacts in some of Ireland biggest financial institutions. All bank accounts include the provision of internet banking as standard. Banking services we can assist with are as follows:
- Provision of Irish Bank Accounts for Irish-Registered Companies
- Provision of International Bank Accounts for Foreign-Registered Companies
- Provision of International Bank Accounts for Irish-Registered Companies
- Provision of Merchant Account Services also available
Ireland is one of the leading countries in Europe in Financial Services. The International Financial Services Centre (IFSC) in Dublin is less than 1 mile from our offices. Ireland represents the perfect choice for US, Asian and International Companies who require an EU bank account to accept Euro payments. Ireland is currently the only english-speaking member of the Euro currency.
We can also assist with opening company bank accounts in other EU jurisdictions including Latvia, Cyprus, UK and Malta. For clients wishing to open a corporate bank account outside of the European Union we have arrangements in place for this also through a leading offshore bank where your money is 100% safe and secure.
Our banking relationships enable us to offer bank accounts to our clients with minimal fuss – in the quickest possible time-frame. This includes being able to offer our clients the convenience of Remote Account opening* – meaning that you may not have to travel to meet the bank to set up your business bank account through us.
*Remote Account opening is only possible with a minority of financial institutions in some countries. Most banks will require a face to face meeting as part of their KYC requirements. We can advise on this on a case by case basis.
For more information, about registering a company in Ireland with a bank account, or a corporate bank account for your company formation in general, please don’t hesitate to Contact Us at Thomond Company.
Dormant Company Accounts
Do you have a limited company that has ceased to trade? If so, then you have two options:
- Keep filing annual returns each year to the Companies Registration Office (CRO).
Our fee to file an annual return to the CRO for your small dormant company is only €199 including Vat* . The CRO have their own filing fees for processing your annual return which is payable in addition to our fee. Contact us today for more information or see our FAQ.
Dormant Company FAQ’s
What is a dormant company?
A dormant company is one that doesn’t trade and has no accounting transactions. If your company has traded or did have transactions during the year, then contact us for a quotation.
Also, to qualify for our €199 inc. VAT fee, the company must be audit exempt. If your company is not audit exempt, then please contact us so we can refer you to our associate audit firm
Why do I have to file returns to the Companies Registration Office (CRO) if my company is not trading?
All Irish companies must deliver an annual return to the CRO each calendar year, regardless of the company’s trading status. There are significant penalties for a company which misses its filing deadline. These include late filing penalties and even involuntary strike-off.
Does your fee of €199 include filing of taxes to Revenue?
No. If your company is dormant, then a tax cancellation notice should be filed with Revenue under all tax headings effective from the date it ceased trading
There will then be no requirement to file any tax returns for periods after the effective date of cancellation.
To discuss your requirements and our service, contact us at firstname.lastname@example.org or +353 61 411000
Issue / Transfer of Shares – Share transfer in a Private Limited Company Ireland
Thomond Company can assist you with the allotment or transfer of shares in your Limited Company. It is vital to seek professional advice when doing this, as there are many other implications.
Share Allotments (Issue of Shares) or Share Transfers are done in a number of circumstances, for example if you are providing equity in return for investment, restructuring an organisation, transferring wealth between spouses or to children or rewarding a sales director for reaching targets.
Government Stamp Duty may be a factor in the above. There is no stamp duty applicable to share allotments, or transfers where the consideration is less than €1000. True market value should be used to calculate whether stamp duty is applicable or not. There may be other tax considerations applicable to share transfers or allotments.
Generally, the following steps are required to complete these tasks properly for a Limited Company in Ireland:
- Checking of the Constitution / Memorandum and Articles of Association for the company.
- Preparation of a Stock Transfer form instrument (if transfer).
- Preparation of Companies Registration Office form B5 (if share allotment).
- Preparation of Revenue form SD4 (if applicable).
- Payment of Stamp Duty (if applicable).
- Directors Board Minutes.
- Issue of New Share Certificate/s.
For the completion of all of the above, our fee starts from only €150+VAT for a Share transfer in a Private Limited Company Ireland. We can have all the above prepared within 24 hours should you require everything to be done urgently.
Summary Approval Procedure (SAP)
The Summary Approval Procedure (SAP) is a validation procedure which includes the passing of a special resolution and the swearing by directors of statutory declaration of solvency. As per the Companies Act 2014, the SAP eliminates the need for court approval for the following seven transactions-
- Financial assistance for acquisition of own shares.
- Directors Loans and persons connected to them.
- Reducing a company’s share capital.
- Variation of capital on reorganisations.
- Domestic mergers of certain Irish companies.
- Members’ voluntary winding-ups.
- Pre-acquisition reserves.
Who can avail of the SAP?
The SAP can be availed of by a Private Company Limited by Shares (LTD), Designated Activity Company (DAC) and a Company Limited by Guarantee (CLG). Certain Company types must pass special restrictions rather than using ordinary resolutions to effect certain procedures.
A Public limited companies (PLC) may avail of the Summary Approval Procedure but are limited to the following three transactions:
- to effect a members’ voluntary winding up.
- treatment of pre-acquisition profits.
- for the making of loans to directors or connected persons.
Members of a company will be required to pass a special resolution to approve and provide the directors with the authority to carry out the restricted activity. The resolution must be passed no more than 12 months prior to the commencement of the activity. Following this, the directors of the company must then deliver a declaration to the Companies Registration Office containing the information regarding the restricted activity. This must be done within 21 days of the activity being carried out or else the activity will be declared invalid.
Certain restricted activities have extra requirements as the nature of the declaration is not synonymous across all activities.
Civil sanction is available to a liquidator, creditor or member of a company or to the ODCE where a declaration was made without reasonable grounds for doing so under section 210 of the Companies Act 2014 and a director, who has signed the declaration may be held personally responsible without limited liability for all and any of the debts and liabilities of the company.
The content of a declaration after proceeding with a SAP varies depending on the restricted activity involved however, in all situations must include validation that a full inquiry has been made into the affairs of the company and that the company is able to pay its debts and liabilities as they fall due for a period of 12 months after the restricted activity is carried out.
Civil sanction can be available to a liquidator, creditor or to the ODCE if a declaration was made without reasonable grounds. Under to section 210 of the Companies Act 2014, a director, who has signed the declaration may be held personally responsible without limited liability for all debts and/or liabilities of the company.
Financial assistance for the acquisition of Shares
Under the new Act, it is an offence for a company to give any kind of financial support for the acquisition of shares in the company or in the company’s holding company. The prohibition applies whether the support is given directly or indirectly or is by means of a loan or guarantee, the provision of security or otherwise
However, there are exceptions which allows the financial support in the situation where the company’s main purpose in giving the support is not for the purpose of the acquisition or where it is incidental in relation to some larger purpose and the assistance is given in good faith. The exceptions to the prohibition include:
- The giving of financial support in accordance with the Summary Approval Procedure.
- For dividends or distribution out of profits.
- For discharge of lawfully incurred liabilities.
- Lending money as part of ordinary business.
- Employee share schemes.
- Representations, warranties and indemnities.
- Fees, commissions and expenses.
Thomond Company can carry out the Summary Approval Procedure on behalf of your company and ensure it is done in the most efficient and cost friendly manner. For more information on the Summary Approval Procedure please do not hesitate to contact us on 061-411000 or email email@example.com