Сompany registration in Ireland

Сompany registration in Ireland
Ireland

Being a highly developed country, Ireland is also one of the world's cleanest countries. It is washed by the Celtic Sea, irish Sea and Atlantic Ocean. The capital of Ireland is Dublin. The country has a population of 4,7 million people.

Ireland is a member of the following international organizations: UN, OECD, EU, Council of Europe, Euratom and EMU.

The most developed sectors of Ireland's economy include: the pharmaceutical industry, IT, food industry, agriculture and mining. The Republic of Ireland’s currency is the Euro.

If you are looking to register a European company quickly and easily, then registering a company in Ireland in 2020 will be an excellent opportunity for you.

ADVANTAGES OF DOING BUSINESS IN IRELAND

Ireland is ranked 23rd for ease of doing business, 15th for the level of protection of minority investors, 10th for business registration and 4th for ease of taxation.

If you would like to remotely set up a company in Ireland or open a corporate account with an Irish bank, we suggest that you to take a look at the main advantages of this jurisdiction:

  • leader in attracting foreign investment;
  • best conditions for conducting international trade activities and providing IT-services;
  • double taxation agreements with more than 60 countries;
  • no foreign exchange controls and CFC rules;
  • flexible tax system.

KEY LEGAL FORMS

If you plan to register a company in Ireland, we recommend choosing either Limited Partnership (LP) or Limited Company (Ltd). Setting up and managing your company in these two forms will be much easier.

Those, interested in registering a Limited Company in Ireland or opening a corporate account with an Irish bank must meet these requirements:

  • having a unique name (make sure it does not contain words like ‘Royal’, ‘Assurance’, ‘Windsor’, ‘Bank’ and the like);
  • having no less than 1 director (should be an EU resident). Only individuals allowed;
  • having no less than 1 shareholder (individuals and entities);
  • having statutory audit and annual tax reports.

TO SET UP AN LLP IN IRELAND, YOU NEED TO FULFIL THE FOLLOWING CONDITIONS:

  • having a unique name (with abbreviation LLP);
  • having no less than 2 directors (one of them must be an EU resident);
  • having no less than 2 shareholders;
  • no statutory audit and annual tax reports are required.

COMMON REQUIREMENTS FOR BOTH LEGAL FORMS:

  • having a share capital of 1 EUR;
  • no local registered office is required;
  • being registered in the public register of directors and shareholders.

TAX RATES

If you want to register a company in Ireland remotely, you should keep in mind Ireland-registered companies are subject to the following taxes:

  • Income tax – 12,5 %. Mining and petroleum companies are taxed at 25%. There is no income tax for LLPs;
  • Capital gains tax – 33%;
  • VAT – up to 23%;
  • WHT on dividends – 0% for resident individuals and 20% for resident companies;
  • WHT on payments of interest and royalties – 20%.

HOW TO OPEN A COMPANY IN IRELAND

Interested in launching a business in Ireland? Looking to register a company in Ireland? Need help with opening an account with an Irish bank? Why not contact YB Case?

Please note that setting up a company in Ireland takes no more than 2 to 3 weeks.

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