Incorporation documents preparation
Apostilled set of documents
Good offer Ireland LP STANDART
Ireland, not being the classic offshore zone, however, offers attractive conditions for effective economic activity. High economic growth rates and free economic zones led to the process of country’s integration into the world economic system. An important strategic direction for Ireland was free trade establishment in the EU. The flow of investment from highly developed countries such as US and Britain is striking confirmation the practicality of business dealing in this region. The priority areas in the development of Ireland`s economy – are electronics sector (production of computer systems, automation equipment, security systems) and medical industries (pharmaceuticals, cosmetics, perfumery products, medical equipment), as well as research activities in the field of innovative and ecologically clean technology.
Offshore Ireland has a number of advantages:
- Opportunity to register offshore in respectable European jurisdiction - Ireland;
- Stable economic situation;
- Loyal legislation;
- Attractive opportunities for profitable investment;
- Wide opportunities for tax planning;
- Simplicity and fastness of company registration, budgetary cost of service;
- No foreign exchange controls;
- Signed agreements on avoidance of double taxation with more than 60 countries.
Since the status of the offshore company isn’t determined on legislation level, then such company means registered company in the country, which is owned by non-residents, and have profits from the activities both within the country and abroad. Thus, the company becomes a tax resident in Ireland and all global income subject to tax. In this case it is possible to reduce the tax rate in 2 times or even avoid paying taxes by using international agreements on double taxation and the absence of relevant EU directives.
The corporate tax rate in Ireland is 25%, but it can be reduced to 12.5% applied to income from trading activities, at least partially carried out in the country's territory (except for income from operations with gas, oil and minerals). Reducing the tax rate to 10% is possible in the case of profits from the production of goods within the country or from the sale of products manufactured by a subsidiary resident company. For newly established companies there is provided exemption from corporation tax on profits from trading activities in the period of three years, if the annual income does not exceed € 40 000. In Ireland, there is a way to optimize tax costs as offset of foreign tax, which is paid, for example, a foreign subsidiary company in the country of its registration, on account of tax in Ireland in respect of the same type of income. This is possible even without tax treaties between countries, but the amount of offset cannot be higher than the amount of Irish tax.
The tax on dividends is charged at the rate of 12.5% and 25%. The first variant is possible if dividends distributed from the trading activities profit and obtained by the company from EU country or one from which there is a signed agreement on avoidance of double taxation. Such rate is applicable without such agreements, but the parent company should own at least 75% of subsidiary company’s shares. Dividends received from a resident company are not taxable.
The rate of withholding tax on dividends or interest of a foreign company is 20%, but this does not apply to payments:
- Irish resident companies;
- Non-resident companies which are subject to the EU directive about subsidiaries and parent companies;
- Non-resident companies registered in EU or those the fully control of which is carried out by the residents of Ireland.
Upon royalty payment, it is also possible to reduce the tax rate from 20% to 0%. For company registration as a VAT payer, its annual turnover from the sale of goods should be more than 75 000 euros, services - more than 37 500 euros.
The most popular form of the company is private limited company (Ltd), for opening of which it must be at least 2 directors, one of whom must be Irish resident, for at least one shareholder, resident secretary, registered office. Directors, shareholders and secretaries can be private and legal persons. Annual financial statements is necessary to submit. Information about directors, shareholders and secretary are stored in the State Register of Companies; it is possible to use nominee service.
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