Ireland is a small state located in western Europe. The country is popular among European business persons as it provides convenient conditions for doing business. It cannot be called a traditional offshore zone, since the Irish tax system obliges entrepreneurs to pay taxes. However, zero taxation is possible for non-residents.
You do not need to be a resident to run a profitable Irish business. Foreigners have the right to conduct business by establishing partnerships. This form of doing business is not subject to the payment of taxes on the profit that was received abroad.
Business Benefits in Ireland
Finding Ireland in the blacklists of jurisdictions is impossible. The country is compared to Estonia or Hong Kong in terms of a favorable business environment. The advantages of registering Irish companies are undeniable and are as follows:
- an ideal option for withdrawing dividends;
- maximum government support, regardless of the chosen direction;
- remote company opening;
- developed level of the economy, economic freedom;
- stability of the political situation;
- renewal costs include filing a zero report.
Irish partnerships are established with the preservation of the traditional rights inherent in legal entities. All non-residents of the country receive tax exemptions.
After becoming a member of the Eurozone, Ireland abandoned its currency by adopting the Euro. It is an indicator of the stability of the country, allowing you to do business in the European market.
Buying a ready-made business in Ireland
To get all of the above advantages, you need to register a business in Ireland. This process often takes a lot of time and effort. Therefore, to save time, business persons choose to buy a ready-made company in Ireland.
Advantages of buying a ready-made company in Ireland
EU membership. Ireland fully complies with the laws and regulations of the European Union, which contributes to the creation of a stable and reliable business environment;
- EU membership. Ireland fully complies with the laws and regulations of the European Union, which contributes to the creation of a stable and reliable business environment;
- EU membership. Ireland fully complies with the laws and regulations of the European Union, which contributes to the creation of a stable and reliable business environment;
- EU membership. Ireland fully complies with the laws and regulations of the European Union, which contributes to the creation of a stable and reliable business environment;
- EU membership. Ireland fully complies with the laws and regulations of the European Union, which contributes to the creation of a stable and reliable business environment;
- EU membership. Ireland fully complies with the laws and regulations of the European Union, which contributes to the creation of a stable and reliable business environment;
- EU membership. Ireland fully complies with the laws and regulations of the European Union, which contributes to the creation of a stable and reliable business environment;
Types of ready-made companies in Ireland
There are mainly three types of ready-made companies in Ireland.
Limited Liability Company (LLC)
A limited liability company has the following features:
- the contractual capacity of an individual;
- limited liability of owners;
- the authorized capital is not fixed;
- up to 149 members;
- one director;
- the company can make most decisions in writing (both ad hoc and ordinary);
- the opportunity to qualify for an exemption from audits.
Designated Activity Company (DAC)
A feature of DAC is that it resembles a limited liability company in form, but can be limited by both shares and a guarantee.
DAC features:
- the company must have at least two directors;
- compulsory annual general meeting;
- the ability to qualify for an exemption from audits if the company is small;
- DACs must have the suffix “Company carrying out certain activities” or, respectively, the equivalent in the Irish language “Cuideachta Ghníomhaíochta Ainmnithe”. Please note that the exception applies only to non-profit companies;
- the company must have a verified share capital.
Companies Limited by Guarantee (CLG)
Such companies:
- have a charter that includes a memorandum and charter;
- have limited liability, but do not have authorized capital;
- must have at least two directors;
- CLG companies are required to bear the suffix “Companies Limited by Guarantee” or “Cuideachta faoi Theorainn Ráthaíochta” if they are not exempt from tax. The exception applies only to non-profit companies;
- a company can qualify for an audit exemption.
Documents required to buy an offshore company in Ireland
To buy a ready-made company in Ireland, the following documents from the new owners and directors of the company are needed:
- Certified copies of passports of shareholders/directors;
- The last utility bill not later than 3 months, which contains the address of the person’s residence;
- Police clearance certificate;
- If the shareholder is a company, a copy of the registration certificate, and an official list of directors and shareholders.
