How Much Does It Cost to Open a Company in Ireland?

Ireland is one of the most business-friendly countries in Europe. With its low corporate tax rate, access to the EU market, and a well-developed legal system, it's no surprise that many foreign investors and international companies are exploring how to set up a company in Ireland.

If you’re a U.S. company or an entrepreneur looking to expand internationally, understanding the cost of opening a company in Ireland is a key first step.

In this article, we break down the actual and potential costs involved in company formation, ongoing compliance, and related services. Whether you're setting up a small branch office or a new European headquarters, knowing these costs will help you plan effectively—and avoid surprises.

1. Types of Business Entities in Ireland

Before we dive into the costs, it's important to understand your options. The most common type of company structure for foreign businesses is the Private Company Limited by Shares (LTD).

• Other options include:
• Designated Activity Company (DAC)
• Company Limited by Guarantee (CLG)
• Sole trader or partnership (less common for foreign businesses)
• Branch of a foreign company

The LTD is typically the most cost-efficient and flexible structure for international companies.

2. Government Fees and Filing Costs

• Company Registration Office (CRO) Fee
• Registering a company with the Companies Registration Office (CRO) is a mandatory step.
• Online registration (Form A1 + Constitution): €50
• Paper registration: €100

Online filing is not only cheaper but also faster and more efficient. Most companies opt for online incorporation.

3. Professional Service Provider Fees

While you could try to set up a company on your own, most foreign companies, especially those without a physical presence in Ireland, use a professional firm like Chern & Co to handle company formation, compliance, and legal requirements.

Typical professional fees include:

• Service Estimated Cost (EUR)
• Company formation (legal + CRO filing) €300 – €1,000
• Registered office service €200 – €500/year
• Company secretary service €300 – €600/year
• Local director (if required) €2,000 – €5,000/year
• Accounting and tax registration support €500 – €1,500 (one-time)

Chern & Co, for example, offers full-service company formation packages that include the legal paperwork, company constitution, filing, and CRO registration—ensuring compliance with Irish law and saving you time and effort.

4. Bank Account Setup

Opening a corporate bank account in Ireland is an essential step, but can be time-consuming due to regulatory and KYC (Know Your Customer) checks.

• While there’s usually no charge to open an account, some banks may request:
• Initial deposit: €1,000 to €5,000 (depending on the bank and nature of the business)
• Monthly maintenance fees: €10 – €50/month

Professional firms like Chern & Co can assist with introductions to Irish banks or recommend fintech alternatives, which are often faster for startups and small businesses.

5. Bond Requirement for Non-EEA Directors

Irish law requires at least one EEA-resident director for every company. If your company does not have one, you must purchase a Section 137 bond.

• Cost of a Section 137 bond: €2,000 – €2,500 (valid for 2 years)

Alternatively, firms like Chern & Co may provide nominee director services, or assist in locating suitable local directors.

6. Tax Registration and Accounting Costs

After setting up your company, you must register with Ireland’s Revenue Commissioners for:

• Corporation tax
• Value Added Tax (VAT) (if applicable)
• Employer PAYE (if hiring staff)
• Estimated costs for tax registration:
• DIY: Free
• Through an accountant: €300 – €800

Ongoing accounting and bookkeeping fees vary based on your company’s size and turnover:

• Small company: €1,000 – €2,500/year
• Medium business: €2,500 – €5,000/year

Chern & Co partners with accounting firms to offer bundled tax and accounting support for new companies, especially those unfamiliar with Irish regulatory obligations.

7. Annual Compliance Costs

Each Irish company must meet ongoing legal compliance requirements, including:

• Annual Return Filing (with CRO): €20 – €50
• Financial Statements Preparation: Depends on size, often bundled with accounting
• Registered Office and Company Secretary: As listed above

Penalties for late filing can exceed €1,200, and your company may be struck off the register. That’s why legal and compliance support from firms like Chern & Co is a valuable investment.

8. Optional Business Costs

• Virtual Office or Coworking Space: €100 – €300/month
• Website, email, marketing setup: €500 – €3,000
• Business insurance (PI, cyber, etc.): €300 – €1,500/year
• Trademark registration (Ireland/EU): €250 – €850+

These are not legal requirements, but many businesses budget for these as part of their launch costs.

Total Estimated Cost to Open a Company in Ireland

Here’s a basic estimate for the first-year cost of setting up and operating a standard Private Limited Company (LTD) in Ireland as a foreign company:

• Category Estimated Cost (EUR)
• Company formation (CRO + legal) €500 – €1,000
• Registered office + secretary €500 – €1,100
• Section 137 bond (if needed) €2,000 – €2,500
• Bank account setup €0 – €100 (plus deposit)
• Tax registration + accounting €800 – €2,000
• First-year compliance €500 – €1,000
• Total (approximate) €2,500 – €6,000+

Note: These costs can be lower for startups with no physical presence or higher for larger, more complex operations.

Why Work with Chern & Co

Chern & Co is an international law firm with deep expertise in Irish company law, taxation, and cross-border business strategy. They offer:

• Turnkey company formation packages
• Advice on how to set up a company in Ireland
• Assistance with directors, compliance, and tax registration
• Trusted local representation for U.S. and global companies

Their support can save weeks of administrative work, prevent legal mistakes, and give you peace of mind as you expand into the European market.

Conclusion

The cost to open a company in Ireland can range from a few thousand euros to over €6,000, depending on your structure, needs, and service providers. While it’s possible to go the DIY route, most foreign companies benefit from working with experienced legal and compliance partners like Chern & Co to avoid delays, ensure compliance, and start strong.

If you're ready to explore how to set up a company in Ireland, Chern & Co offers expert guidance tailored to your business size, goals, and sector. Ireland welcomes foreign investment, and with the right support, your business can thrive in one of Europe’s most dynamic markets.