Incorporating a company in Ireland is a viable business option for both local and international companies or entrepreneurs. The business-friendly environment offers minimal bureaucracy and a favourable tax regime with one of the lowest corporate tax rates in Europe at just 12.5%. The Irish government is welcoming to foreign-owned businesses making it a leading location for entrepreneurs who are looking to expand their business in Europe. This blog will cover the essentials to incorporate a company in Ireland and take advantage of all it has to offer.
Other than the low corporate tax rate there are extensive double taxation treaties with more than 70 countries as well as a 25% R&D tax credit. Following the UK exit the European Union (EU), The Republic of Ireland will be the only mainly English-speaking country in the EU. Ireland is already home to a vast number of international technology companies including Google, Apple, Facebook and many more. Incorporating a company in Ireland is not just for large internationals, small to medium-sized businesses are being incorporated daily offering a large range of products and services in the steadily growing economy.
Step 1: Choose your Irish Company Type
The most popular company type for private and commercial ventures is a Private Company Limited by Shares (LTD), this is equivalent to what some countries call a limited liability company or an LLC. This is the most commonly used company type because it has a Constitution which allows the business to trade in any type of business. Because a LTD company is not restricted to what it can trade in, a company could potentially operate in multiple sectors, for example, a restaurant and an online clothing relator could be operated under one LTD company, the possibilities are virtually endless. Because this is a limited liability company it means that should the company fold, the members are only liable for the amount they have chosen to invest in the business.
The full list of company types can be viewed here.
Step 2: Requirements
There are a few main requirements to be aware of before you can incorporate a company in Ireland. If cannot meet any these requirements we have affordable solutions available.
- Company Director – An Irish company must appoint at least one director who is a resident within the European Economic Area (EEA). The director must be a resident for tax purposes within the EEA (resident for more than 183 days). Once this requirement is met other directors may also be added.
- Company Secretary – Irish companies are required to have a secretary who is responsible for ensuring the company remains compliant with Irish regulations. A company director can also act as the secretary should they have an understanding of the role and only when there is more than one director.
- Register Office Address – Irish companies must have a minimum of a registered address within the Republic of Ireland. This can be a rented office space, apartment or other residential address as long as mail can be received there. This cannot be a PO box.
Step 3: Incorporate the Company
Entrepreneurs will need to choose a company name and file documentation in order to incorporate the company in Ireland. Register a Company in Ireland can complete the incorporation process in the fastest time frame at a competitive price. We will assist you every step of the way and deliver a full company formation package which contains the following essential items
- Certificate of Incorporation
- Company Constitution
- Company Documentation
- Members Certificates
- Company Seal
Ireland is an extremely popular location to Incorporate a company and our process is streamlined to be as straight forward as possible. Please contact the experts at Register a Company in Ireland for more information or complete your company order online today click here.