Limited en Irlande + Siège à Dublin + Adresse Commerciale avec renvoi de courrier International + Enregistrement à la TVA + Compte Bancaire en Irlande (Bank of Ireland ou AIB)  + Comptabilité gratuite pour la première année (Le tout à distance, aucun déplacement nécessaire)Number
Administrators
Taxes on
companies
Capital
Released
States
Financial
2.250 €112,5%100 €Yes

Additional costs

Virtual Address500 €
The head officeincluded
Online banks with IBAN in England, Belgium, Luxembourg or Lithuania500 €
Bank Account in Switzerland1.000 €
Offshore bank account1.000 €

 

company formation in Ireland

 

Ireland is an island in the northwest of continental Europe. It is the third largest island in Europe and the twentieth largest in the world. To its east, it is the largest island of Great Britain, from which it is separated by the Irish Sea.

Politically, Ireland is divided between the Republic of Ireland, which covers just under five-sixths of the island, and Northern Ireland, part of the United Kingdom, which covers the remaining area and is located in the north-east of the island. The population of Ireland is approximately 6.4 million. Just under 4.6 million live in the Republic of Ireland and just over 1.8 million live in Northern Ireland.

The island's geography consists of relatively low mountains surrounding a central plain, with several navigable rivers extending inland. The island has lush vegetation, a product of its mild but variable oceanic climate, which avoids extreme temperatures. Thick forests covered the island until medieval times. Today, the amount of land that is forested in Ireland is just one third of the European average of 35%. There are twenty-six native mammal species existing in Ireland.

Gaelic Ireland appeared some time ago in prehistory and lasted until the beginning of the 17th century. The island was converted to Christianity from the 5th century. Following the Norman invasion of the 12th century, England claimed sovereignty over Ireland. However, English domination did not extend over the whole island except from the Tudor conquest in the 16th to the 17th century. This led to the colonisation of Northern Ireland by settlers from Great Britain. In the 1690s, a system of English Protestant laws was designed to materially disadvantage the Catholic majority and Protestant dissidents, and it expanded during the 18th century. In 1801, Ireland became part of the United Kingdom. A war of independence in the early 20th century was followed by the partition of the island, with the creation of the Irish Free State, which became increasingly sovereign over the following decades, and with Northern Ireland remaining part of the United Kingdom. Northern Ireland experienced much civil unrest from the late 1960s to the 1990s. Calm was restored following a political agreement in 1998. In 1973 both parts of Ireland joined the European Economic Community.

Irish culture has had an important influence on other cultures, particularly in the fields of literature and, to a lesser degree, science and education. Alongside the dominant Western culture, a strong indigenous culture exists, as expressed for example through Gaelic games, Irish music, and the Irish language. The island's culture also has many features in common with Britain, including the English language, and sports such as football, rugby, horse racing and golf.

 

Creation of Companies in IrelandMain Features

  • The number of shares limits the liability of the company's participants.
  • The name must include a word Teoranta (Teo) or Limited (Ltd.).
  • A special permit must be obtained in order to include in the name the terms "standard", "bank", "insurance", "company", "group", "operations", "international", etc.
  • The company can start its activity with the presence of at least one director. Company directors are not allowed. At least one of the directors is resident in the EEA country. If this requirement is not met, the company must acquire a security (the nominal value is €25,395), which must be held by the Bank of Ireland for a period of at least two years. No more than 25 Irish companies can be managed simultaneously by an Irish resident.
  • The director may also be the secretary of the company. The duties of the secretary include keeping the minutes of meetings and the register containing information on: - Directors and secretaries; - Shareholders; - Income and expenses.
  • The minimum issued capital is not resolved.
  • The minimum paid-up capital amount is 1% of the issued amount.
  • The company must not have more than 50 shareholders.
  • The shares should not be placed on the stock exchange.
  • The issue of preference and ordinary shares is possible.
  • The office of the company must be registered in the state jurisdiction.

 

Accounting in Ireland

Responsibilities of the Irish company:

  • Maintenance of accounting records;
  • Storage of documents at the head office;
  • Submission of annual financial reports to state authorities;
  • Be subject to audit inspections. Exceptions: - Total assets - no more than EUR 4.4 million; - Turnover - no more than EUR 8.8 million; - The number of employees does not exceed 50 on average.

 

Taxes in Ireland

  • Company. For commercial enterprises - 12.5%.
  • On incoming dividends - 0%.
  • On capital gains - 33%.
  • Withholding tax types is equal to 20%: - on royalties; - on dividends; - on interest payments.
  • VAT on sales made in Ireland - 23%.

 

The particularities of tax planning in Ireland

It should be noted that Ireland's business legislation, while complying with all EU requirements, is still considered to be one of the most favourable in Europe. Corporate tax planning in Ireland is based on the principle of low tax jurisdiction. For example, commercial companies pay corporation tax at the rate of 12.5%. This rate is one of the lowest in Europe. It should be noted that the Anti Tax Evasion Act has not been passed in Ireland.

There are several conditions under which the company can reduce the tax rate up to 10%, depending on the profitability of doing business in Ireland, companies are often placed in a row with Cyprus.

It is necessary to know the reduction in the rate of corporation tax in Ireland.

Thus, the rate of 10% is available for companies involved in production processes in Ireland. However, this advantage does not apply:

  • The materials, which have a fluid consistency;
  • Goods with modified storage unit without changing the substance of the product itself;
  • Goods subject to repair or restoration. Similarly, businesses can pay taxes of 10% which:
  • Providing services for the planning, design or production of something within the jurisdiction (including activities in the chemical, mechanical and electrical spheres of civil engineering carried out outside the member countries of the Economic Community);
  • Are engaged in industrial fish farming;
  • Dedicate themselves to the cultivation of mushrooms;
  • Are engaged in the repair of ships;
  • Provide services for the processing of technical and consulting software databases;
  • Provide navigational services;
  • Cultivate plants grown by the vegetative reproduction or microdilution method;
  • Serving aircraft engines and aircraft within the jurisdiction;
  • Produce photo and film tapes;
  • Produce meat products (according to EU requirements);
  • Producing (repairing) computer equipment at the place where it is put into service by the manufacturer or distributor;
  • Are engaged in printing newspapers, advertising publications.

At the same time, the maximum effect of the tax advantages is obtained in the free economic zones, one of which is Shannon airport. For example, a tax of 10% applies to:

  • Commercial operations, contributing to the development of the airport;
  • Repair and maintenance services of air transport;
  • Investments of the trust company (or companies), if the holders of the trusts are non-residents of Ireland;
  • Offshore operations conducted by international banks and not related to leasing and insurance (reinsurance).

The impartiality of obtaining a tax benefit must be confirmed by decision of the Minister of Finance.

 

Business income tax on 10% is also paid by:

  • Businesses providing financial transaction services for non-residents of Ireland in the territory of another free zone - customs in the city of Dublin.
  • Businesses that receive income from transactions such as life insurance from persons not resident in Ireland.

 

Tax Incentive Scheme in Ireland

A foreign company established by a non-resident of Ireland may receive a grant of 25% of the sum of the company's expenses.

The influencing factors are as follows:

  • Number of workplaces;
  • Value of products produced;
  • Location of production facilities.

In addition, the question of subsidies of 100% of the cost of employee training is possible.

The status of foreign employees in Irish companies.

If a foreign employee spends up to 183 days a year in the country, he or she is not considered a resident of the jurisdiction and does not have to pay income tax. This simplifies the management of foreign subsidiaries, which are registered in Ireland.

Our experienced specialists will help you to quickly register a business in Ireland. They will also provide information on Ireland's extraterrestrial areas. Buying a business in Ireland is now possible without wasting too much time and money. The registration of companies (including offshore companies) and the registration of companies in Ireland is one of the main focuses of our work.

 

If you are interested in setting up a company in Ireland contact our specialists!

 

General Information

Total Area70,273 sq. km
Population4,722,000 inhab.
CapitalDublin
Unemployment9,70%
Type of GovernmentParliamentary Republic
Time difference in Paris0
Area Code+353
Corruption Perception Indicator14th in the world
LocationIn Western Europe, occupies five-sixths of the island of Ireland in the North Atlantic Ocean, west of Great Britain.
Climate, Maximum and Minimum TemperaturesMaritime temperate; modified by the North Atlantic Current; mild winters, cool summers; always wet; overcast half the time; maximum temperature (July) + 17°; minimum temperature (January) + 4°.
Literacy rate99%
Ethnic GroupsIrish 87.4%, Other White 7.5%, Asian 1.3%, Black 1.1%, Métis 1.1%, Indeterminate 1.6%
National CurrencyEuro
Exchange against USD0,88
GDP per capita50,500 USD, 24th worldwide
Official LanguageEnglish (official) is the language generally used, Irish (Gaelic or Gaeilge) (official) spoken mainly in areas along the west coast.
Credit RatingAA
Judicial BodiesSupreme Court (court of last instance), courts of first instance, including the Supreme Court
ExecutiveHead of government: Prime Minister. Cabinet: appointed by the President to the Prime Minister and approved by the lower house of parliament.
LegislativeBicameral Parliament: the Senate (60 seats) and the House of Representatives (166 seats)

Company Information

Authorized Pre-incorporated CompaniesNo
Legal SystemCommon Law based on English Common Law
Local HeadquartersYes
Types of EntitiesPrivate Limited Liability Company (PRL), Public Limited Liability Company, partnership, sole proprietorship and branch of a foreign company
Time limits for incorporating a new company5 days
SuffixTeoranta (Gaelic equivalent Limited), Limited or the abbreviation Ltd.
Local Registered AgentNo

Shares & Capital

Reference CurrencyEuro
Minimum authorized share capital100.000 €
Minimum paid-up share capital100 €
Minimum issued share capital100 €
Authorized Bearer SharesNo
Standard authorised capital100.000 €
Standard Value of the Nominal Shares1 €
Number of shareholdersMin: 1 - Max: 149
Shares without par value allowedNo

Taxation

VATYes
Minimum rate23%
Taxes on Capital GainsNo
Foreign Exchange ControlNo
Personal Income Taxes2 slices: 20 and 40%
Corporate Income Tax12,5%
Stamp DutyNo

Directors & Secretaries

Minimum number of Directors2
Residency Requirement for DirectorsNo, but at least one must be an EU resident.
Companies as Authorized DirectorNo
Disclosure to the Local AgentNo
Public DisclosureYes
Meetings / frequency / location of administrationEvery year, anywhere
Secretary requiredYes, and maybe one of the directors
Residency requirement for the SecretaryNo
Qualified secretary requiredYes
Companies as Authorized SecretaryYes

Shareholders & Beneficiaries

Minimum number of shareholders1
Public DisclosureYes
Residency requirementNo
Disclosure of BeneficiariesNo
Disclosure to the Local AgentNo
Companies as authorized shareholdersYes
Meetings / frequency / locationEvery year, anywhere

Financial Reports

Obligation to file accountsYes
Publicly accessible accountsNo
Audit requiredNo
Obligation to file the annual declarationYes, 6 months after the creation of the company.
Publicly Available Public Accountability StatementsNo
Obligation to prepare accountsYes
Treaties on Non-Double Taxation37
Member of the OECDYes

 

Prices include all business and official taxes. If official function rates or exchange rates are changed, prices may vary.
Prices include all legal and official fees. Our prices may change during the registration process only in case of changes in official taxes or exchange rates.