:
registration of legal entity

Cost of registration The cost of the second year Number of Directors The tax on profits of legal persons Payment of Charter Capital Financial statements
1975.00 USD 1725.00 USD 1 12.50% 2.00 Да

Registration of a company in Ireland

Registration of company in Ireland

Small territorial size of Ireland is not an obstacle for the progressive development of this state. Nowadays the country is considered to be one of the most prosperous and successful in the EU.

Ireland occupies a great part of the island having the same name, which is located in the west of Europe. Important transport routes connecting European countries with the lands of North America pass through maritime and air space of the state.

The landscape of Ireland is represented by lowlands in the north and in the centre. South-west is mountainous, with the Irish Kerry Mountains situated there.

Ireland is notable for its unstable weather: there are frequent rains, winds and fogs. This is due to the moderate oceanic climate of the country. Business in Ireland is gaining popularity.

The economy of Ireland over the past decade has experienced significant growth.

The main reasons for this are the following:

  • Assistance of foreign investors;
  • Low rate of corporate tax;
  • Liberal attitude to trade.

At the same time registration of business in Ireland is increasingly popular service. The field of trade is considered to be the most profitable for the Irish company. In this case income tax rate will be 12.5%. In order to enjoy the said advantage, the company's activities in Ireland shall be conducted in any way relevant to the jurisdiction.

The main reasons in favour of registering a company in Ireland:

  • Support of entrepreneurship by the Government;
  • Well-developed system of communication, including the Internet;
  • Stability of political course;
  • Low tax rates;
  • State assistance of high-tech.

Businessmen prefer the following type of the company in Ireland:

Private company with limited liability.

Company formation in Ireland: main features

  • The number of shares limits the liability of company’s participants.
  • The name should include a word Teoranta (Teo) or Limited (Ltd), which indicates the company's type. Special permit must be obtained in order to include in the name such words as "standard", "bank", "insurance", "society", "group", "holdings", "international", etc.
  • The company can commence its activity with the presence of at least one director. Corporate directors are not permitted. At least one of the directors shall be resident of the country of the EEA. If this requirement is not met, the company must acquire a security (nominal value is € 25,395), which is issued by the Bank of Ireland for the period of minimum two years. No more than 25 Irish companies can be simultaneously headed by an Irish resident.
  • The director can also be the company’s secretary. The functions of the Secretary include keeping minutes of meetings and register containing information about:
    • - Directors and secretaries;
    • - Shareholders;
    • - Incomes and expenses.
  • The minimum issued capital is not fixed.
  • The amount of minimum paid-up capital is 1% of the amount of issued one.
  • The company can have no more than 50 shareholders.
  • Shares should not be placed on the stock exchange.
  • Issue of preference and common shares is possible.
  • Office of the company shall be registered within the state's jurisdiction.

Bookkeeping in Ireland

Responsibilities of Irish company:

  • Maintenance of accounting records;
  • Storage of the documents at the registered office;
  • Submission of the annual financial reports to the state authorities;
  • Being subject to audit inspections. Exceptions:
    • Total assets are not more than € 4,4 million;
    • Turnover is not more than € 8.8 million;
    • Number of workers does not exceed 50 people on average.

Taxes in Ireland

  • Corporate. For trading companies - 12.5%.
  • On incoming dividends - 0%.
  • On capital gains - 33%.
  • Withholding these kinds of taxes is equal to 20%:
    • on royalties;
    • on dividends;
    • on interest payments.
  • VAT on sales effected within Ireland equals 23%.

Peculiarities of tax planning in Ireland

It should be noted that corporate legislation of Ireland, although being brought in compliance with all EU requirements, is still considered to be one of the most favourable in Europe. Tax planning of a company in Ireland is based on the principle of low-tax jurisdiction. For example, trading companies pay corporation tax at the rate of 12.5%. And this rate is one of the lowest in Europe. It should be emphasized that the law on the fight against evasion from taxes was not adopted in Ireland.

There are several conditions under which the enterprise can reduce the tax rate up to 10%, thereby according to the profitability of doing business in Ireland the companies are often placed in a row with Cyprus.

You should take into account the following necessary information about lowering the tax rate for the company in Ireland.

Thus, the rate of 10% is available for companies which are involved in the production processes within Ireland. But this benefit does not apply to:

  • materials, which have free-flowing consistency;
  • goods with modified stock-keeping unit without changing the substance of the product itself;
  • goods subject to repair or restoration.

Also 10% rated tax can be paid by companies, which:

  • provide services for planning, designing or producing anything within the jurisdiction (including activities in chemical, mechanical, electrical spheres of civil engineering performed outside the member countries of the Economic Community);
  • are engaged in industrial fish farming;
  • are engaged in the cultivation of mushrooms;
  • are engaged in reparation of vessels;
  • provide services for processing databases of technical and consulting software;
  • provide navigation services;
  • cultivate plants which have been grown applying the method of vegetative reproduction or microdilution;
  • serve aircraft engines and aircraft within the territory of jurisdiction;
  • produce photo and film tapes;
  • produce meat products (according to the requirements of the European Union);
  • produce (carry out repair) of computer equipment at the place, where it is put into operation by the manufacturer or distributor;
  • are engaged in printing papers, advertising publications.

At the same time the maximum effect from tax benefits is achieved in free economic zones, one of which is the Shannon Airport. For example, 10% tax applies there to:

  • Trade operations, contributing to the development of the airport;
  • Repair services and services on maintenance of air transport;
  • The investments of trust company (or several companies), if the holders of trusts are non-residents of Ireland;
  • Offshore operations conducted through international banks, and not related to leasing and insurance (reinsurance).

Impartiality of obtaining tax benefit shall be confirmed by decision of the Minister of Finance.

10% corporate income tax is also paid by:

  • companies that provide services of the financial transactions of non-residents of Ireland within the territory of another free zone - customs docks in Dublin city.
  • companies that receive income as the result of such transactions as life insurance of persons who do not reside in Ireland.

Ireland's tax incentives system

A foreign company established by a non-resident of Ireland can receive grant in the amount of 25% of the sum of the company's expenses.

The contributing factors are the following:

  • number of workplaces;
  • value of produced goods;
  • location of production facilities.

What is more, issue of grants of 100% cost of employee’s training is possible.

The status of foreign employees in Irish companies.

If a foreign employee spent in the country up to 183 days per year, they are not considered as a resident of the jurisdiction and should not pay income tax. This simplifies the management of foreign subsidiaries, which are registered in Ireland.

Our experienced specialists will help you register a company in Ireland in short time. They will also provide information regarding the offshore zones of Ireland. Buying a company in Ireland is now possible without wasting time and money. Registration of companies (including offshore companies) and business in Ireland is one of the main directions of our work.

Set of documents
   
  • Certificate of incorporation 
  • Memorandum and Articles of Association 
  • Minutes of the Meeting of Directors 
  • Share Certiciates 
  • Page with Apostille 
Nominee director and shareholder
 

Price: +658 USD

 
  • Resolution effecting the issuing the Power of Attorney 
  • Apostilled Power of Attorney 
  • Consent Letter 
  • Director Resignation Letter
  • Nominee Director’s Declaration
  • Resolution effecting the change Director 
  • Resignation of Companies Secretary and Directors 
  • Deed of Trust Instrument of Transfer
  • Бланк передачи Акций 

General information
Square70273.00
Population4722030.00
CapitalDublin
Unemployment24.30
State polityRepublic, parliamentary democracy
Telephone code353
Place in the world in corruption19
locationWestern Europe, occupying five-sixths of the island of Ireland in the North Atlantic Ocean, west of Great Britain
ClimateTemperate maritime; modified by North Atlantic Current; mild winters, cool summers; consistently humid; overcast about half the time; avg. maximum temperature (July) +17°; avg. minimum temperature (January) +4°
Literacy rate99.00%
Ethnic groupsIrish 87.4%, other white 7.5%, Asian 1.3%, black 1.1%, mixed 1.1%, 0unspecified 1.6%
National currencyEuro
USD exchange rate0.75
GDP per capita24
Official languageEnglish (official) is the language generally used, Irish (Gaelic or Gaeilge) (official) spoken mainly in areas along the western coast
Credit ratingAA
The judiciarySupreme Court (court of last resort), the trial courts, including the Supreme Court
Executive authorityHead of government: Prime Minister. Cabinet: Cabinet appointed by the president to the prime minister and approved by the lower house of parliament
Legislative authoritiesbicameral Parliament: the Senate (60 seats) and the House of Representatives (166 seats)
Corporate information
Opportunity to purchase ready-made companiesNo
Legal systemCommon Law based on English Common Law
The use of the Cyrillic alphabet in the nameNo
Local registered officeYes
Organizational and Legal FormsPrivate Limited Liability Company (PrL), Public Limited Liability Company, partnership, sole proprietorship and branch of a foreign corporation
Indication of BPA in the nameTeoranta (Gaelic equivalent Limited), Limited or the abbreviation Ltd.
Local registered agentNo
Shares and share capital
Standard currencyEUR
The minimum amount of paid-in capital, nat. currency2
The minimum amount of the issued capital1
Bearer sharesNo
Terms of payment of the issued capitalWhen registering
The usual size of the authorized capitalEUR 100,000
Usual nominal value of shares1 Euro
Possibility to issue shares without par valueNo
Taxation
VATNo
Min. income tax rate for legal. persons12.50%
Capital gains taxNo
Currency controlNo
The tax on profits of legal persons (Details)12,5% for Trading Income, 25% - Non-trading income
Stamp dutyNo
Director and Secretary
Minimum number of directors2
The requirement for residency directorsYes
Director of legal entities are allowedNo
The data reveals to the local agentNo
Data field to the public registryYes
The requirement for the presence of the SecretaryYes
Requirement to the residense of the SecretaryNo
Requirements to qualification of the SecretaryNo
Legal entity as the SecretaryNo
Shareholder and beneficiary
Minimum number of shareholders1
Data is entered in the public registerYes
Shareholders residency requirementNo
Information about the beneficiary is disclosedNo
Information may be disclosed to the local agentNo
Shareholders-legal entities are acceptableYes
Reporting
The requirement for filing reportsYes
Open access to reportsNo
Statutory auditNo
The requirement for filing Annual ReturnNo
Open access to the Annual ReturnYes
The requirement for reportsYes
Treaty on avoidance of double taxation (States which signed)37
Membership in the OECDYes
Is it offshore according to Russian legislationNo
Trademark Registration
TM Comprehensive Study TM Registration Request TM Registration Certificate Total
First Class Additional Class First Class Additional Class First Class Additional Class First Class Additional Class
122.40 65.70 612.90 207.00 633.60 0.00 1368.90 USD 272.70 USD
«TRADEMARK» refers to «Wordmark» or «Logo»

219.60 101.70 612.90 207.00 633.60 0.00 1466.10 USD 308.70 USD
«TRADEMARK» refers to «Wordmark+ Logo»

Prices include all professional and official fees. If the change of official duties or exchange rates prices may vary.

Цены включают в себя все юридические и официальные сборы. Наши цены могут иметь вариации в процессе регистрации только в случае изменений, касающихся официальных сборов или обменных курсов.
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