The CRO recently issued its 2022 Annual Report and the following are the main points from the report. You can read the full report here https://www.cro.ie/Publications/Publications/Corporate
- 94% of submissions were filed electronically
- 287,877 Irish companies were in existence on the register at the end of the year, resulting in 510,280 submissions being filed
- CRO received 879 notices of applications from companies to the District Court or the High Court. The CRO issued a total of 858 Letters of Acknowledgement/No Objection/Objection (including 8 letters of objection) and processed 770 Orders granted by the District Court/High Court. One application was refused by the Courts and five applications were withdrawn. Four applications were adjourned from 2022 to 2023
- there were no reports of unregistered auditors attempting to file false auditors’ reports. There were 19 instances where auditors notified the CRO that their Auditors Registration Number (ARN) was used to file auditors’ reports without permission
- Over 41,000 phone calls were answered as well as 16,220 emails
- 84 Number of Official Complaints and 3 referred to the Office of the Ombudsman
- the number of new companies incorporated was 21,434. This represents a decrease of 16% compared to 2021 when 25,468 new companies were incorporated. During 2022 there was an average of 1,786 new companies registered per month, compared to a monthly average of 2,122 in 2021. The general trend since 2016 has been for over 20,000 incorporations every year with a high of 25,468 in 2021
- 248 new external company registrations in 2022. The most common country of origin for new registrations for external companies was the United Kingdom with 190 registrations
- The number of external companies on the Register at the end of 2022 was 3,143, a decrease on the figure of 3,210 at the end of 2021
- 240,223 annual returns received in the CRO in 2022
- a total of 361 companies re-registered, down from 428 in 2021
- 1,808 liquidations a decrease of 0.6% compared to 2021
- By year end, 4,298 persons were on the register of disqualified persons and 547 persons were on the register of restricted persons
- No involuntary strike off in 2022 (process has recommenced in 2023)
- 6,376 companies were struck off voluntarily in 2022, which is a decrease on the figure of 7,033 in 2021
- 96 companies were restored to the register, a decrease on the number restored in 2021
- The number of new business names registered by the CRO in 2022 was 20,006, a decrease of 14% on 2021 when 23,374 were registered
- 182 Limited Partnerships were registered in 2022, a significant decrease on the number registered in 2021 (334)
- the Registrar received 4 notices from auditors in respect of Proper Books were not Kept during 2022
- 2022 expenditure for the CRO was €7.2m.
- CRO received €17.8 million in 2022, which represents an increase of 7.9% on the 2021 figure of €16.5m. The figure includes income received in respect of the Registry of Friendly Societies and the Register of Beneficial Ownership.
NB. The content of this article is provided for information purposes only and does not constitute legal or other advice.
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