Registering a company in Ireland: rules and useful tips

Registering a company in Ireland: rules and useful tips

Ireland is a country in the Atlantic Ocean. The state is independent, and it is considered one of the leaders in the simplicity of doing business as well as the registration of enterprises. It is possible to open an offshore company in Ireland, as the jurisdiction has a low level of taxation, while being respectable.

Small size of the state is not a limitation for jurisdiction development. Ireland is one of the most prosperous and successful countries in the European Union. To register a company in Ireland, please contact our experts at IT-OFFSHORE.

The benefits of starting a firm

The country's economy has tended to grow recently. This is due to the assistance of foreign investors and low corporate tax. The trading field is considered the most profitable for the company.

Why to buy a company in Ireland?

  • The country's economy is stable;
  • High production growth rates;
  • The country is a member of the European Union;
  • The state is one of the leaders in the simplicity of doing business;
  • For some businesses, a low tax rate can be used;
  • No currency control;
  • The country has signed double tax avoidance agreements with many states.

The country supports the development of entrepreneurship. There is support for high technology. Ireland has a well-developed communications infrastructure and system.

Features of company incorporation

The most common OPF for starting a firm is Ltd. There are some nuances of starting a company. The number of shares limits the liability of the participants. It is possible to operate with at least one director who has the status of an EEA resident.

Legal entities may not hold the position of directors. A registered office is required in the country. Each company must have a secretary, who may be a director. You may not use words that are inappropriate or related to certain types of activities without special permission.

Taxes and accounting

A company registered in Ireland must keep accounting records, keep documents in the office and submit tax reports each year to the appropriate authorities. It is mandatory to undergo an audit.

The corporate tax rate for trading organizations is 12.5%, and  for non-trading organizations it is 25%. There is a zero rate for incoming dividends. For capital gains the tariff is 33%. Withholding tax options is 20%. The value-added tax on sales made within the state is 23%.

There are some conditions under which it is possible to reduce the tariff rate to 10%. There are also a number of tax incentives in the country. For some R&D expenses a tax credit can be granted and a reduced income tax rate may be applied. If the conditions are met, different startups may apply for tax incentives for three years. 

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