What is the difference between a Certificate of Incumbency and a Certificate of Good Standing?

Certificate of Incumbency and Letter of Status

By Caitlyn Buchanan, 17th September 2021 A Certificate of Incumbency or a Certificate of Good Standing may be obtained for any limited company type registered in Ireland. While these certificates are similar in that they are used to certify key company information they may be required for specific applications or contracts. A Certificate of Incumbency […]

The European Commission announces the creation of a new Anti-Money Laundering Authority (AMLA)

Anti-Money Laundering Authority

By Sarah Dixon, 9th August 2021 The European Commission has announced plans to establish a new Anti-Money Laundering Authority (AMLA) to tackle money laundering and terrorist financing across Europe. This announcement comes in response to several major banks across Europe being hit with money laundering scandals. An estimated €1.87 trillion worth of dirty money passes […]

Key findings from the CRO Annual Report 2020

CRO Annual Report 2020 Key Findings

By Caitlyn Buchanan, 21st July 2021 The Companies Registration Office (CRO) annual report was recently published. The CRO Annual Report 2020 contains the latest updates and statistics on their activities for the year. Restrictions and Challenges in 2020 With the outbreak of a worldwide pandemic, 2020 was a challenging year for many Irish entities including […]

What is the difference between a LTD and DAC Company in Ireland?

designated activity company Ireland

By Shona Hastings, 12th July 2021 What is a DAC Company in Ireland? An Irish Designated Activity Company (DAC) is a type of limited company that outlines and defines its specific business activities within its constitution. A DAC company may be incorporated for a specific purpose such as a charity or a management company where […]

SCARP provides a simplified Company Restructuring process for Ireland’s Small and Micro Business

SCARP Examinership

By Caitlyn Buchanan, 23rd June 2021 (Updated 9th December 2021) The Companies (Rescue Process for Small and Micro Companies) Act 2021 (SCARP) was passed on 13the July 2021 and officially signed and commenced into law on 8th December 2021. The CRO was prepared for this change and had already introduced a number of new forms. […]

Irish bank account applications refused for companies who have not filed with the RBO

open business bank account

By Caitlyn Buchanan, 9th June 2021 Our contact within the Bank of Ireland says that approximately 52% of new corporate bank account applications are being refused because they have not filed with the Central Register of Beneficial Ownership (RBO). The Criminal Justice (Money Laundering and Terrorist Financing) Act 2021 came into force in April 2021 […]

New Company Registrations increase by 24% in the first four months of 2021

New Company Registrations in Ireland

By Company Bureau, 1st June 2021 Despite more than a year of uncertainty and continuing challenges brought on by Brexit, System updates and worldwide pandemic, Ireland has seen a 24% increase in new company registrations in 2021. In the first four months of 2020, the pandemic took hold and major lockdown restrictions were enforced in […]

New Criminal Justice (Money Laundering and Terrorist Financing) Amendment Act 2021 Commenced into Irish Law

anti money laundering legislation

By Caitlyn Buchanan, 13th May 2021 The new Criminal Justice (Money Laundering and Terrorist Financing) Amendment Act 2021 commenced into Irish law in April 2021. The Act makes amendments to the AML Criminal Justice Act 2010 and transposes the majority of the Fifth EU Anti-Money Laundering Directive (5AMLD) into law. This new anti money laundering legislation […]

From 2021 all Irish Charities must comply with the CRA Governance Code

Irish Charities Governance Code

By Caitlyn Buchanan, 13th March 2021 From 2021, all charities must prepare an annual submission to comply with the Charities Regulatory Authority (CRA) Governance Code. The CRA Governance Code is relevant to every charity operating in Ireland including voluntary public hospitals and healthcare providers with charitable status. The ongoing pandemic has put increased pressure on […]