Special permissions, which will be provided in accordance with the operations carried out by the specific company, are necessary to open an agricultural business in Ireland. For instance, businesspeople who are interested in Irish company formation in this area should be aware that aquaculture falls under this category as well, and that investors will need an Aquaculture Licence for this particular activity. In 2016, Ireland’s agri-food industry contributed 8.5% of all national employment, 9.8% of Ireland’s merchandise exports, and 7% of gross value added (€13.9 billion). When inputs, processing, and marketing jobs are taken into consideration, the agri-food sector employs roughly 10% of all workers.
Establishing an agricultural business in Ireland
The first step that must be taken in order to establish an agricultural company in Ireland is to register a trading name with the Companies Registration Office (CRO). The investors will then need to create a legal entity through which they will conduct their business operations.
It’s crucial to be aware that the majority of Irish business entities are registered as limited liability corporations. In Ireland, notarizing the company’s statutory documents in front of a public notary is a requirement in order to register this kind of business form or any other one. Ireland is renowned for its straightforward registration process, which may be finished online through the CRO. The registration for corporate taxation, which includes the registration for value-added tax or social contributions for the company’s employees, is required of all businesses engaging in commercial activity. One of Ireland’s most significant indigenous manufacturing sectors, the agri-food industry employs about 167,500 people. It consists of about 700 food and beverage businesses around the nation that export food and seafood to more than 160 nations. Compared to comparable activity in other traded areas of the economy, economic activity in the agriculture and food industry yields a significantly higher return. This is because, compared to 43% for all manufacturing enterprises, agri-food industries receive 74% of their raw materials and services from Irish suppliers.
Irish corporation registration requirements
While the incorporation process in Ireland is quite straightforward (in comparison to other nations), there are a few procedures that must be completed, and investors must submit paperwork and other information to the local authorities. Below are a few of the crucial steps:
- Choosing an appropriate company name and reserving it with the Irish Trade Register.
- Create and sign the company’s statutory documents (corporate entities are established on the articles of incorporation).
- Determine the location of the company’s registered address.
- Obtain the particular business permits and licenses that some sorts of Irish firms may need.
- Identify the directors. The number of directors may change depending on the company’s operations.
A prototype model for the articles of association is included in the new Irish Company Act, which greatly streamlines the registration process. The Company Act also stipulates that at least one of the directors must reside in Ireland. Only Irish public corporations are obliged to have a minimum share capital of EUR 25,000; private limited companies are exempt from this requirement.
Obtaining licenses in Ireland for agricultural activities
The granting of special permits is one of the required steps in Ireland’s company registration process. The investors will need to obtain an import license (AGRIM) if the company engages in import-export activities, but only if the relevant products are imported. came from a nation outside of the European Union (EU). The Department of Agriculture, Food, and Marine’s Aquaculture and Foreshore Management Division will grant permits for aquaculture activities, as was already indicated. Investors may need different licenses depending on the specific operations of the farm firm; those interested in further information are encouraged to get in touch with our team of Ireland company formation agents for a thorough explanation.
