Key Highlights from the CRO Annual Report 2024

The Companies Registration Office (CRO) in Ireland has released its Annual Report for 2024, and there are several noteworthy developments that regular CRO users and Irish businesses should be aware of.

Below, we’ve summarised the most impactful updates and statistics from the report.

1. Launch of the New CRO Website and Open Data Portal

In April 2024, the CRO unveiled a new website designed to enhance accessibility and user experience. In addition, they introduced an Open Data Portal, to comply with the EU’s “high value dataset” requirements.

2. Disruption in Involuntary Strike-Off Process

The report acknowledges a significant disruption in the involuntary strike-off process during late 2023 and early 2024. A number of Irish companies were invalidly struck off, prompting their subsequent restoration. As a result, the strike-off mechanism was temporarily suspended and only restarted on a limited basis towards the end of 2024.

3. New Legislation: Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024

Effective from 3 December 2024, this new legislation introduces several key changes:

• Electronic participation in general meetings
• Additional grounds for strike-off
• Enhanced enforcement powers for regulatory bodies

4. Increase in Company Incorporations

A positive highlight from the report is the incorporation of 23,652 new Irish companies in 2024 – a 5.7% increase compared to the previous year.

5. Significant Rise in Liquidations

Liquidations rose by approximately 85%, with 4,433 liquidations registered in 2024.

6. Voluntary Strike-Offs

The number of voluntary strike-offs also saw an increase, with 6,737 companies applying in 2024, up from 6,227 in 2023.

7. Enforcement and Filing Statistics

There were no prosecutions initiated in 2024 for failure to file annual returns, due to suspension of enforcement). However, the CRO still collected €9.7 million in late filing fees from 16,073 companies that missed their deadlines.

8. Auditor Notices Under Section 392

In accordance with Section 392 of the Companies Act 2014, the Registrar received five notices from auditors regarding companies that failed to maintain proper books.

9. Involuntary Strike-Offs Resume

After a two-year hiatus, involuntary strike-offs resumed in 2024, with 1,242 companies removed from the register.

10. Director Disqualifications

A total of 5,926 individuals were disqualified from the register in 2024.

A full copy of the report for 2024 is available here.

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Disclaimer: This article is for general informational purposes only. All content is provided in good faith; however, we make no representation or warranty of any kind regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information. All or any information is subject to change. This post does not constitute legal, financial, or professional advice. Always seek the advice of a qualified professional or legal advisor with any questions you may have. CFI are not liable for any loss or damage arising from your use of the information contained in this Article.

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