Company registration in Ireland

Company registration in Ireland

Ireland is an independent jurisdiction, a rightful member of the European Union, which has the Eurozone currency system. This prosperous, successful, dynamically developing state is attractive to foreign investors for many reasons.

ADVANTAGES OF COMPANY REGISTRATION IN IRELAND

The advantages of this jurisdiction for doing business include:

  • stable economy;
  • ease of registration and doing business;
  • prestige, convenient geographical location of the jurisdiction;
  • the policy of active support of business;
  • low corporate tax rate, a system of tax incentives;
  • double taxation agreements with more than 70 countries;
  • state support of innovative spheres;
  • highly qualified English-speaking staff;
  • a well-developed legal framework that guarantees the protection of intellectual property.

Ireland is great for implementing business projects in the financial sector, technological innovation, pharmaceuticals, IT, etc. Venture capital funds and business accelerators actively help startups and aspiring entrepreneurs, they offer attractive financing programs. Eight out of ten European IT companies have already chosen Ireland as their base. Moreover, Dublin, the country’s capital, is home to the International Financial Services Center (IFSC), where many of the world’s leading financial institutions are based.

Registering a company in Ireland is also beneficial for trading activities. For trade businesses, the income tax rate here is at 12.5% — this is one of the lowest rates in Europe. Certain conditions will allow reducing the rate to 10%.

TYPES OF BUSINESS ORGANISATION AVAILABLE IN IRELAND

The Companies Registration Office (CRO) is responsible for registering new legal entities in Ireland. In the country, it is possible to register a sole proprietorship, a branch of a foreign company, a partnership, a limited liability company (Ltd), etc. The following types of the business organisation are the most common and convenient for foreign investors:

  • LLP — Limited Liability Partnership. An LLP must include at least one general partner (resident of Ireland), and one or more limited partners (no more than 20).
  • LTD — Private company limited by shares. The amount of the minimum capital is not set. It is obligatory to have at least one director (a resident of the country) and one shareholder. A local legal address is also required.
  • PLC — Public Limited Company. The PLC may offer its shares to the public. The quantity of shareholders is unlimited but not less than 7. At least one of the directors must be a resident of Ireland.

REGISTRATION FEATURES

As a rule, registration of a new legal entity in Ireland takes up to 10 days, then the company must be registered with the tax authorities. It is not obligatory to open a company account with a local bank under local law, however, having an Irish corporate account will make it easier to obtain tax residency. COREDO employees are familiar with all the nuances of Irish legislation, and they will be happy to help figure things out and set up a new company as soon as possible.

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