Ireland Company Formation

Ireland may be a small country but it has always been a haven for foreign investment. The Irish economy has for some time been fuelled by foreign investment, low Corporate Tax and a liberal approach to trade. Generous investment incentives complete an attractive Irish company formation package.

If you’re considering how to set up an Irish company then please contact us for expert advice and information.

A summary of Irish Corporate Taxes is available here.

What options are available in Ireland?

Frequently Asked Questions about Ireland

What are the main benefits of incorporating in Ireland?

– Low Corporate Taxes with a universal rate of 12.5% on trading profits (0% until 2014 for some companies which meet certain conditions)
– Extensive network of over 50 Double Taxation Treaties including the United States. Agency Agreements can also be used
– Ireland has an excellent international corporate image and Holding Company Regime (see below)
– Ireland is ranked third in Europe (seventh in the world) by the World Bank (2010) in terms of ease of doing business
– It is the only fully English-speaking jurisdiction in the Eurozone, as well as a committed European Union and EEA Member
– Europe’s premier corporate domicile for multinational inward investment
– Excellent telecommunications infrastructure
– Low capitalisation costs when compared with most EU jurisdictions
– Ideal for international Joint Ventures where participants wish to incorporate in a neutral state

What other reasons are there to open a company in Ireland?

Geographically, Ireland is perfectly positioned as a trade bridge between Europe and the United States. Secondly, it is a global e-commerce hub, boasting a truly world-class telecommunications network.

Above all, it has a particularly beneficial tax environment with Corporation Tax fixed at 12.5% on all trading income, whether manufacturing or otherwise. If you need advice on tax planning in Ireland we will you in touch with our specialists.

What are the most common types of formation in Ireland?

The following forms of entities are the most popular to incorporate in Cyprus:
– Private Limited Liability Company (Ltd)
– Public Limited Liability Company (PLC)
– Partnership
– Branch

What are the main features of a Private Limited Liability Company (Ltd) in Ireland?

– This is the most popular format for foreign investors
– There is no minimum threshold for share capital
– It requires two directors and company secretary
– One director must be an EEA resident
– Specialist audited accounts are required to be filed annually

What are the main features of a Public Limited Liability Company (PLC) in Ireland?

– The minimum share capital for a PLC is €38,092
– At least 25% of the authorised share capital must be paid up
– Minimum of seven shareholders required
– Audited accounts to be filed annually

What are the main features of a Partnership in Ireland?

– Available as a General, Limited or Investment Limited Partnership
– General Partnerships have unlimited liability
– Limited Partnerships have limited liability
– Irish Incorporation Investment Limited Partnerships allow for double tax relief

What are the main features of a Branch in Ireland?

– Foreign parent responsible for all liabilities of Irish Branch
– Branch required to register with Registrar of Companies
– Minimum of two directors; accounts to be filed annually

What is the regulatory environment like in Ireland?

Ireland’s rapid economic growth has prompted the government to streamline its regulatory infrastructure. Financial controls are now the responsibility of a single body, the Central Bank of Ireland.

The overall regime is relaxed. There are no general restrictions to foreign ownership, capital and dividends can be freely repatriated, and Ireland has bilateral tax treaties with many countries.

Are there financial incentives available in Ireland?

The Irish authorities, in coordination with the EU, offer a broad range of incentives for international investors considering Irish company registration:

– Capital grants towards the cost of land, buildings, plant and equipment
– Employment and training grants to promote job creation
– Research and development grants

How easy is it to close an Irish company?

Please contact us in order to discuss closing your company in Ireland.

How easy is it to recruit staff in Ireland?

Ireland has a well educated and motivated workforce but the economic boom has resulted in very high employment levels, particularly in electronics and IT.

This poses a challenge for companies considering Irish company formation. There is a thriving recruitment sector. If you want the pick of the crop, our recruitment specialists are ready to help.

What about banking facilities in Ireland?

Ireland is emerging as a major international banking centre in its own right. The main national clearing banks offer a full range of services, including foreign exchange and hedging, while many international banks are represented here for commercial lending and foreign exchange facilities.

For assistance with opening a bank account in Ireland, please contact us.