What is a TCSP?
A Trust or Company Service Provider (TCSP) is defined in Section 24 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. Under this definition, a TCSP is any person or corporate entity whose business provides any of the following services:
- Forming companies on behalf of clients.
- Acting as, or arranging for another person to act as, a director or secretary of a company under an arrangement with a person other than the company.
- Providing a registered office, business address, correspondence or administrative address, or other related services for a body corporate or partnership.
- Acting as, or arranging for another person to act as, a partner of a partnership.
- Acting as, or arranging for another person to act as, a trustee of a trust.
- Acting as, or arranging for another person to act as, a nominee shareholder for a person other than a listed company.
In plain terms: anyone who forms companies, provides registered office addresses, or offers company secretarial services to clients in Ireland is operating as a TCSP and must be authorised to do so.
What services require a regulated provider?
Under Irish and EU law, the following services may only be provided by a registered accountant, auditor, solicitor, or a licensed TCSP:
- Company formation (incorporating a company with the CRO on your behalf).
- Registered office services (providing an Irish address as your company's registered office).
- Company secretarial services (filing Annual Returns, maintaining statutory registers, CRO filings).
- Nominee director or shareholder services.
The Department of Justice has stated clearly that obtaining these services from an unlicensed provider is unlawful under Irish and European law. Unregulated providers offering cheap company formation online are operating without authorisation and expose their clients to compliance risk.
How TCSPs are regulated in Ireland
TCSPs in Ireland are supervised by one of three competent authorities, depending on the composition of the TCSP's principal officers:
- The Department of Justice (AMLCU): the Anti-Money Laundering Compliance Unit of the Department of Justice supervises TCSPs that are not subsidiaries of credit institutions and whose principals are not members of a prescribed accountancy body. This is the most common category for standalone company formation agents.
- The Central Bank of Ireland: supervises TCSPs that are subsidiaries of credit or financial institutions. This applies since 3 March 2014.
- Prescribed accountancy bodies: five prescribed accountancy bodies in Ireland (including Chartered Accountants Ireland) supervise member firms that provide TCSP services on an incidental basis alongside their accountancy practice.
A TCSP authorisation issued by the Department of Justice is valid for three years from the date of grant. Renewal requires a fresh application submitted at least ten weeks before the renewal date. The AMLCU carries out regular audits of authorised TCSPs to verify compliance with AML obligations.
What a TCSP must do by law
A licensed TCSP is a designated person under the 2010 Act and is subject to the full range of AML and CTF obligations. This includes:
- Conducting a Business Risk Assessment.
- Applying Customer Due Diligence (CDD) to every client before commencing work. This means verifying the identity of all directors and beneficial owners using certified identity documents and proof of address.
- Applying Enhanced Due Diligence (EDD) in higher-risk situations, including for Politically Exposed Persons (PEPs) and clients from high-risk jurisdictions identified by FATF.
- Monitoring ongoing business relationships.
- Reporting suspicious transactions to An Garda Síochána and the Revenue Commissioners.
- Retaining all CDD records for a minimum of five years after the business relationship ends.
- Training all relevant staff on AML obligations.
How to verify a TCSP before engaging them
Before using a company formation agent or registered office provider, confirm that they are authorised. The AMLCU maintains a register of authorised TCSPs. You can contact the AMLCU via amlcompliance.ie to verify whether a specific provider holds a current authorisation.
A legitimate, authorised TCSP should be willing to tell you their authorisation status and the authority that supervises them. Red flags include providers that do not mention AML compliance or KYC requirements, offer unusually low prices with no verification process, or are not based in Ireland.
Workhub's TCSP authorisation is issued by the Department of Justice of Ireland. We have held our TCSP licence since 2022. Our authorisation is verifiable with the AMLCU.
TCSP vs solicitor: what is the difference?
Both TCSPs and solicitors can legally form companies and provide registered office services in Ireland. The key differences are:
- Regulation: Solicitors are regulated by the Legal Services Regulatory Authority (LSRA). TCSPs are regulated by the Department of Justice or another competent authority. Both are subject to AML obligations.
- Legal advice: Solicitors can provide legal advice, draft complex agreements, and represent you in legal proceedings. TCSPs handle company administration but cannot provide legal advice. For straightforward company formation and ongoing secretarial compliance, a TCSP is typically more cost-effective.
- Specialisation: TCSPs specialise in company formation and secretarial compliance. A TCSP that forms companies every day is typically more efficient at the process than a general practice solicitor for whom company formation is one of many services.
Why it matters for your company
Using a licensed TCSP is not just a legal requirement. It has practical consequences for your company. Irish banks conduct enhanced due diligence on newly formed companies, and they look at how and by whom the company was formed. A company formed through a licensed, audited TCSP is in a stronger position when opening a business bank account than one formed through an unregulated online service.
Additionally, your company's AML/KYC documentation, generated and held by a licensed TCSP, may be required if you seek external investment, enter regulated industries, or deal with institutional counterparties who conduct their own due diligence.
This guide is for general informational purposes and reflects the position under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 and associated legislation as of May 2026. It does not constitute legal advice. Workhub is a licensed TCSP regulated by the Department of Justice of Ireland.