Introduction to setting up a Company in Ireland
Establishing a subsidiary in Ireland is currently extremely conducive for business. The country has numerous beneficial aspects including 0% corporation tax until 2014 and a great geographical location as a trading bridge between Europe and America. The Companies Acts, Orders and Regulations 1963-2009 moderate the setting up of businesses in Ireland. Certain business sectors may require additional legalities.
What are the main requirements for an Irish Company?
– The minimum share capital required is €38,092
– The Memorandum & Articles of Association of the subsidiary
– The resolution of the parent company detailing its decision to form the subsidiary
– A registered address in Ireland
In order to register the subsidiary, the documents shown above must be filed with the Companies Registration Office (CRO).
All required documents must be officially notarised and translated into English by a sworn translator.
What are the accounting requirements of an Irish Company?
The subsidiary must register for taxation with the local Tax Office. Completion of Form TR2 registers your business for Corporation Tax, VAT, Employer’s PAYE/PRSI, and Relevant Contracts Tax.
Tax accounts and declarations can be filed online through the Irish Tax and Customs Revenue Online Service (ROS).
VAT returns of the subsidiary should be filed every two months and tax accounts annually.
Please contact us in order to discuss your accounting requirements.
We will handle every aspect of the Company formation for you. Using our expert knowledge we can offer a company formation package in which we take care of company registration, issue of the certificates of registration, local directors, local representative and place of business in Ireland, tax registration, VAT registration, and translation of documents (if required).
Our unique one stop solution for all European formation requirements also offers formation packages to set up multiple companies. The benefits for establishing multiple companies include further increased exposure and global presence, and we can organise everything for you.
A summary of Irish Corporate Taxes is available here.