Ireland is a state located on the island of the same name, which is the third-largest in Europe. Ireland is an ideal jurisdiction for registering a company and doing business and is popular with a growing variety of startup programs. And also the country has the active support of entrepreneurship from the Government. Moreover, Ireland is a leader in attracting foreign investment among European countries.
Registration of a company in Ireland is quite often an excellent solution, as in the Doing Business 2020 rating the country is included in the 25 easiest and most convenient jurisdictions to establish and conduct business.
Benefits of registering a company in Ireland
Ireland is not an offshore jurisdiction, therefore it is not included in the “black” lists of offshore zones. However, the country offers preferential terms for starting a company and doing business.
In Ireland, the headquarters of such world giants as Apple, Google, eBay, Twitter, and Facebook are located. Other advantages of jurisdiction:
Low tax rates
The corporate tax rate in Ireland is 12.5%, which is considered one of the lowest corporate tax rates in Europe. Moreover, there is no capital gains tax in Ireland, which also makes it easier to do business.
Irish corporate law
Ireland provides a challenging regulatory environment that, with the right approach, can be turned to the benefit of the company. Irish legislation is well developed in all areas, including in the area of corporate law, which can serve as an additional guarantor of the proper performance of all corporate obligations in the course of the company’s activities.
Ireland is considered to be the center of international investment and long-term commercial relations. The stable and developed economy of Ireland contributes to the growing interest of investors around the world in this country as a state recipient of investments. This country offers many areas that are profitable in terms of both short-term and long-term investment.
Friendly business environment
The Irish government pursues a policy to improve the conditions for establishing a company and carrying out business activities, which is also an undoubted advantage when choosing a company to register a company. Various ratings, articles, and studies repeatedly mark Ireland as a country with extremely favorable conditions for starting a company. Ireland is also a country with a friendly attitude towards business, including small and medium-sized ones, and you can experience this firsthand.
Fast and uncomplicated company registration procedure
In Ireland, there are no special Registry requirements for the establishment of a company, the loyalty of the country is manifested also at this stage. To register a company, it is enough to collect the necessary package of documents and information described below, which is standard and does not differ in any additional requirements that complicate the process. It is also worth noting the low cost of registering and maintaining a company among prestigious jurisdictions.
These are the main, but not all the advantages that the registration of a company in Ireland gives, and we invite you to get to know the rest in person by contacting our manager and clarifying all your questions.
Organizational and legal forms of companies in Ireland
Following the laws of Ireland (including the Companies Act 2014), the registration of a company in Ireland is possible in the following organizational and legal forms:
• Private Limited Company
A company of this type can be incorporated with one director in the structure.
• Private partnership in Ireland (Limited Liability Partnership)
According to law, It should be 1 General Partner and 1 limited partner at least in that type of company in Ireland.
• Public Limited Company
The minimum authorized capital of this company is EUR 25,000.
There are no restrictions on the number of shareholders and the free circulation of shares.
• Company Limited by Guarantee
The liability of the members of this type of company is limited by the guarantee of the members, and not by the number of shares.
• Company with unlimited liability of participants (Unlimited Company)
Members are unlimitedly liable for the obligations of the company.
Basic tax rates in the Republic of Ireland:
- Income tax – 12.5% or 25% (duty);
- Sales tax – 23%;
- Income tax – fluctuates from 20 to 40% (there is a preferential tax system);
- Value added tax (VAT) – 23%, 13.5%, 9%, 4.8% or 0% depending on the category of goods / services. VAT exempt.