Set up your Business Company in Ireland
Ireland’s Corporate Tax Rate of 12.5%
is one of the lowest in the World!
Ireland is a very suitable jurisdiction for companies to be based whilst acting in commercial transactions. There are a number of structures available which allow an Irish entity to be used in worldwide commercial transactions whilst minimising the exposure to Irish tax. It is relatively easy and inexpensive to form a company in Ireland and there are many advantages to having a company here, such as:
- - Having a company in Ireland allows you to be part of the EU in an English-speaking country;
- - Access to all the EU trade & customs agreements between Ireland and other non-EU countries;
- - Access to over 73 double tax treaties;
- - Cross Border VAT registration with simplified administration;
- - Easy distribution of goods and services;
- - EURO currency bank account;
- - Low corporate tax rate of less than 12.50% after deductions;
- - A large variety of tax reliefs and incentives aimed at attracting foreign companies Read more about Setting up a company in Ireland. You can speak to our Ireland business expert here.
Advantages to Register in Ireland
With a limited company in Ireland, you can avail of the following advantages:
- 1. Easily trade services and/or products within Europe.
- 2. Benefit from low corporate tax rate, a network of double tax treaties and other tax incentives.
- 3. Be part of a thriving entrepreneurial community.
- 4. Avail of an English speaking educated mobile workforce.
- 5. Benefit from pro-business state and semi-state initiatives to support start-ups in Ireland with practical and financial assistance.
Ireland is also becoming increasingly attractive as a holding company location for foreign investors particularly where it is combined with a trading activity such as headquarter activities, treasury or research & development.
Why do so many multinational corporations have international headquarters in Ireland?
Ireland is a member of the European Union and the European Economic Area (the “Euro Zone”) which allows for easy trade of services and products throughout the EU, as well as other supports available from agencies supporting businesses in the area.
In Ireland, a limited liability company enjoys low corporate tax rates & beneficial cash flow. Ireland’s Corporate Tax Rate of 12.5% is one of the lowest in the World. A 0% rate is also available, though subject to conditions and the benefit is limited to the number of employers PRSI paid on staff salaries. You may also qualify for tax incentives for holding/headquarter companies and benefit from the Network of Double Tax Treaties that reduce withholding taxes.
Government Policies in Ireland favour foreign investment, including R&D activities through IDA Ireland, Shannon Development and Enterprise Ireland. In fact, it has been a historical situation that has made the advantages to register in Ireland so strong.
The Companies Act 2014 replaced the Companies Acts 1963-2013 on 1st June 2015. The Companies Act 2014 consolidated the 1963-2013 Acts as well as introducing some new innovations.
All company types must have one secretary and a minimum of one director. One of the directors is required to be resident in a member state of the European Economic Area (EEA).
For those residing outside the EEA, there are two options. You can purchase a bond, which insures the company against fines for any offences under the Companies Act, this bond would need to be renewed every 2 years. The other option would be for the Irish company to appoint a non-executive or “nominee” director to the board to satisfy residency requirement.
Procedure to Incorporate an International Company
Submission of Constitution, which must state the intended business activity and the appropriate NACE code, together with a Form A1 detailing the first directors, secretary and situation of the Registered Office to be declared in the presence of a solicitor, notary or Commissioner of Oaths in the Republic of Ireland. It is important to note that the Registry will only incorporate new companies that prove they intend to undertake some form of activity in the Republic of Ireland. "Activity" means "any activity that a company may be lawfully formed to carry on and included the holding, acquisition or disposal of property of whatsoever kind".
Restrictions on Trading
Cannot solicit funds from or sell its shares to the public. Required to undertake some business within Ireland.
Powers of Company
A Company incorporated in the Republic of Ireland has the same powers as a natural person.
Language of Legislation and Corporate Documents
Registered Office Required
Yes, must be maintained in the Republic of Ireland, this address should be displayed on all letterheads and stationery for the company together with the Incorporation Number and full name of the Directors and Secretary. Care should be taken to include the business address on stationery for the day-to-day business activities of the company.
Shelf Companies Available
Time Scale to Incorporate
3 to 4 working days.
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