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Definition of an "Irish-owned" company

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  • 28-09-2006 10:57am
    #1
    ikoonman
    Registered Users Posts: 250 ✭✭


    Can someone please explain to me what the definition of an "Irish-owned" company means, in specific a limited company. This would be wrt a new startup.

    Does it mean that an Irish director/owner of the company must have 51% (majority) share in the company or 100%?

    Any links to web-references would be appreciated.

    TIA


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    #2
    vector
    Registered Users Posts: 1,756 ✭✭✭vector


    very hard to say,

    you say "Irish-owned" in quotation marks, as if you are quoting some document. That document might provide its own definition in its small print.

    If not then what is the document about? Is tax? (probably is) then try revenue.ie Is it registration? then try cro.ie

    anyone can use a term like "Irish-owned" or "Irish resident" but the context matters, as it determines who will provide the official definition


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    #3
    ikoonman
    Registered Users Posts: 250 ✭✭ikoonman


    No, it's relating to forming a limited company. One of the 2 directors must be resident, and to make the company Irish owned, does that mean that the resident director must hold a majority shareholder stake in the limited company?

    Hope this makes my query a bit more clearer.

    TIA


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    #4
    faceman
    Moderators, Category Moderators, Arts Moderators, Entertainment Moderators, Social & Fun Moderators Posts: 16,600 CMod ✭✭✭✭faceman


    Ah now it makes sense. No under the legislation one direction must reside in ireland. However he/she need not be irish or do any work as long as he/she lives here. Volume of shares held makes no difference.

    to get back to a definition of irish owned company, im sure its open to interpretation but there is nothing as far as i am aware written in law to define it.


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