Audit Exemption

If an Irish limited company meets certain conditions, it may be exempted from having it’s accounts audited. The company is still required to file it’s accounts with the Companies Registration Office.

The following companies are not entitled to an audit exemption:

  • A company that is a member firm within the meaning of the Stock Exchange Act 1995
  • A company that is a stock exchange within the meaning of the Stock Exchange Act 1995
  • A company that is an associated undertaking or a related undertaking of a member firm or stock exchange within the meaning of the Stock Exchange Act 1995
  • A company that is an investment business firm within the meaning of the Investment Intermediaries Act 1995
  • A company that is an associated undertaking or a related undertaking of an investment business firm within the meaning of the Investment Intermediaries Act 1995
  • A company to which Chapter VII, VIII or IX of Part II of the Central Bank Act 1989, applies
  • A company that is engaged in the business of accepting deposits or other repayable funds or granting credit for its own account
  • A company that is an associated body of a building society within the meaning of the Building Societies Act 1989
  • A company that is an associated enterprise of a credit institution within the meaning of the European Communities Regulations 1992 (S.I. No. 396 of 1992)
  • An investment company within the meaning the Companies Act
  • A company that is a management company or trustee within the meaning the Companies Act
  • A company that is an undertaking for collective investment in transferable securities within the meaning of the European Communities Undertakings for Collective Investment in Transferable Securities Regulations 1989 (S.I. No. 78 of 1989)
  • A company that is a management company or trustee of an undertaking for collective investment in transferable securities within the meaning of the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 1989
  • A company that is a management company or trustee of a unit trust scheme within the meaning of the Unit Trusts Act
  • A company that is a general partner or custodian of an investment limited partnership within the meaning of the Investment Limited Partnerships Act 1994
  • A company that is an undertaking with close links with a financial undertaking within the meaning of the Supervision of Credit Institutions, Stock Exchange Member Firms and Investment Business Firms Regulations 1996 (S.I. No. 267 of 1996)
  • Any other company the carrying on of business by which is required, by virtue of any enactment or instrument there under, to be authorised by the Central Bank
  • A company that is an insurance intermediary within the meaning of the Insurance Act 1989
  • A company that is an excepted body within the meaning of the Trade Union Acts 1871 - 1975 and Part II of the Industrial Relations Act 1990
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Ireland Key Points
  • Only 2 to 3 days to incorporate.
  • Directors can be of any EU nationality.
  • Only 1 shareholder required.
  • 100% overseas shareholders allowed.
  • Equal treatment for domestic and foreign shareholders.
  • No obligation requiring Irish participation in the management of your company.
  • Share Capital requirement is only €100.
  • Exemption for 3 years from Corporation Tax if your taxable profits are less than €320,000.
  • Low Corporation Tax of 12.5%.
  • We are members of the Irish Companies Registration Office electronic filing scheme.
  • We provide you with full expert assistance throughout every step of the company formation process.