Introduction to Registering a Company in Ireland
The Republic of Ireland may be a small country (population of approximately 4.8 Million) but it has become one of Europe’s biggest success stories. Ireland continues to punch well above its weight with regard to attracting foreign investment due to its firm commitment to a low corporate tax rate (12.5%), and liberal approach to trade. As the most Western country in Europe, Ireland is a fully independent jurisdiction, a committed European Union member and is presently the only English speaking jurisdiction in the Eurozone monetary system.
EuroCompanyFormations.com head office is physically located in central Dublin only 500 metres from the Irish Companies Registry, so the Irish company incorporation process fast and easy. Our incorporation fee is only €350 including VAT, which includes our premium package with full legal documents and company seal. With our express service we can have your company registered in only 2-3 working days, so contact us today to discuss Irish company registrations and we will send you the application form.
Ireland has well-developed corporate and general law and is a common law jurisdiction. It has a very attractive Corporate Tax rate of 12.5% on Trading Profits (0% for some companies until 2022).
What are the advantages of Company Registration Ireland?
The advantages of registering a company in Ireland include:
- Ireland has an excellent international corporate image. Excellent Holding Company Regime (see below)
- In 2014, Forbes ranked Ireland as the best country in the world to do business
- Low corporate taxes with a universal rate of 12.5% on trading profits (0% until 2022 for some companies which meet certain conditions)
- Extensive network of over 70 Double Taxation Treaties including the United States. Agency Agreements can be used also.
- In the 2010 IMD World Competitiveness Yearbook, Ireland was ranked fourth in the world in terms of availability of skilled labour and openness to new ideas
- Only fully English-speaking jurisdiction in the Eurozone, 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.
This, together with Ireland ‘s positive image as an excellent corporate domicile and on-shore jurisdiction, makes company formation Ireland an attractive proposition for international tax planning purposes.
What are the advantages of an Irish Holding Company, and why is a holding company in Ireland so attractive?
Following the introduction of a number of key tax reliefs and exemptions in recent years, Ireland has become a very attractive jurisdiction for multinational companies to locate a holding company. The main features that give Ireland a competitive advantage over other countries are as follows:
- No withholding tax on the payment of dividends by the holding company to EU or tax treaty countries.
- No Capital Gains Tax on the disposal of shareholdings in subsidiaries.
- No transfer pricing, thin capitalisation or CFC rules.
- Tax deductions for interest on borrowings to acquire shareholdings in subsidiaries.
- Favourable treatment on the receipt of dividend income.
- Extensive Tax Treaty network and access to EU Parent-Subsidiary Directive.
- Low tax rates for both trading operations and investment activities.
As well as all the benefits of an Irish Company listed above (See advantages of Company Registration Ireland), One of the biggest advantages that Ireland has over other jurisdictions is the ability to combine the holding company with trading activities such as Shared Service Centre activities, GroupProcurement, Treasury and Research & Development.
What types of Irish Company are available?
A Private Limited Company is the most common form of Irish company incorporation for people wishing to a start business in Ireland. The main types of company formation Ireland can be categorised as follows:
- Private Company Limited by Shares (LTD)
- Designated Activity Company (DAC)
- Company Limited by Guarantee (Non-Profit Company)
- Unlimited Company
- Limited Partnership (LP)
- Public Limited Company (PLC)
What are the Incorporation Requirements for an Irish Limited Company?
The main incorporation requirements are as follows:
- The choice of a company name must be approved by the Registrar of Companies and must be sufficiently different from any other company name on the register (generic words like ‘holdings’, ‘Ireland’, international’, ‘trading’, etc. don’t count) Euro Company Formations can incorporate for you within 2-3 working days.
- Every company must have a Registered Office address within the state (We can provide this facility)
- All Irish companies must register for corporation tax.
- A Private Company Limited by Shares may have a single director if desired, but in this case, must appoint a separate secretary.
- Every other type of Irish company must have at least two directors where one should be an EEA resident or alternatively a company may dispense with this requirement by placing a bond to the value of Euro 25,394.76 with the Company Registry (2 Directors still required though) Premium for Bond is EUR1957.50 (We can arrange this on your behalf) The maximum number of directorships allowable is 25.
- Every company must have a Secretary who may also be a Director. A Corporate Secretary is permissible (We can provide a Corporate Company Secretary if you wish)
- It is possible to have a “Single Member Company” whereby all shares are held by the one person/company. The Maximum number of shareholders for a Private Limited company is ninety-nine.
- Companies are normally capitalised with 100 issued shares of Euro 1 each.
- Newly incorporated companies should demonstrate an activity/trade within the state if they wish to register for VAT
What are the on-going requirements for Company Formations Ireland?
The Company Compliance and Corporate Governance requirements for company registration Ireland include the following:
- All companies must hold an Annual General Meeting (AGM) within 18 months of incorporation and thereafter on an annual basis (must be an AGM in each calendar year and should take place in Ireland as management and control should be in Ireland)
- All companies must submit and file an annual return together with accounts to the Registrar of Companies.
- Every company whose turnover exceeds Euro 8.3 million must prepare and file audited accounts. Holding and Subsidiary Companies must also file audited accounts.
- Corporation Tax Return once a year and VAT Returns every two months (if applicable)
- A presence in Ireland is required for VAT Registration – (i.e. A resident Director, Employee, Physical Office, trade in Ireland, etc.)
What Irish Company Formations services can you assist me with?
EuroCompanyFormations.com can assist you with the following Irish company incorporation and corporate services:
- Incorporating an Irish Corporate Entity in 2-3 Working Days
- Arranging Non-Resident Directors Bond (Required for Non-EEA Residents only)
- Provision of Registered Office and/or Virtual Service
- Assistance with Opening of Company Bank Account including internet banking as standard
- Provision of Company Secretarial & Compliance Service
- VAT and Corporation Tax Registration
- Preparation and Filing of Tax Returns
- Preparation and Filing of Abridged and/or Audited Company Accounts
- Preparation and Filing of Companies Registration Office Annual Return
- Abridged and/or Audited Company Accounts
- Provision of dedicated business phone number and fax number
- Provision of Nominee Irish Resident Director/s
How can I get more information on how to start a business in Ireland?
Our dedicated company formation Ireland service makes it easy for you to start a business in Ireland, so please contact us for further details and our brochure.
Start a business in Ireland today!
EuroCompanyFormations.com are based in Ireland, so this makes the process even easier. We will look after the whole Irish company incorporation process for you and continue to assist you after the company is registered. This includes assistance with opening a company bank account, VAT and Corporation Tax Registration, Virtual Office and Tax & Accountancy Services.