x
Overview
Incorporation: 2-4 weeks + delivery time for the courier
Minimum paid up capital: No requirements, usually EUR 100
Overview
Ireland is a well-reputed jurisdiction, attracting foreign investors with its stable and modern economy, good investment climate, and the access to both EU and global markets. The local business and legal environment provides the ease of doing business, focusing on high-tech industries, trade, and investment. Irish company setup can become a very useful tool for international tax planning purposes, especially due to its universal rate of 12,5% on trading profits for tax resident companies and its extensive network of double taxation treaties.
One of the most common forms of Irish legal entities is a Private Limited Company or LTD, which is usually preferred by small and medium-sized businesses. Nevertheless, other types of company formations may be suitable for your particular business as well, so we advise to consider such forms as Designated Activity Company or DAC, Limited Partnership or LP, etc.
Irish company is allowed to be incorporated as a “Single Member Company” whereby all shares are held by 1 natural person or legal entity. Companies are normally incorporated with 100 issued shares of EUR 1 each.
Irish Private Limited Company may have a single director, but in this case, a separate secretary must be appointed. Every other type of Irish company must have at least 2 directors. If at least 1 of the directors is not an EEA resident, then a company may place a bond to the value of EUR 25,000 with the Company Registry.
The premium for the bond is €1957.50 and covers a period of 2 years. Moreover, there is a requirement for every Irish company to have a Secretary, who may also be a Director. Corporate Secretaries are allowed.
| Bronze | Silver | Gold | |
|---|---|---|---|
|
Name Check |
|
|
|
|
Company Incorporation |
|
|
|
|
Local secretary |
|
|
|
|
Government fees |
|
|
|
|
Registered office for 1 year |
|
|
|
|
Delivery of original documents |
– |
|
|
|
Apostilled documents |
–
|
|
|
|
Nominee director and shareholder |
– |
– |
|
|
Total amount: |
€3,500 |
€4,400 |
€7,400 |
Comprehensive Guide to Company Incorporation
General information
Company structure
- ▪ At least 1 Shareholder (natural person or legal entity, no restrictions with regards to citizenship or residence
- ▪ For LTD: at least 1 Director and 1 Secretary (foreign residents are allowed), for other forms: at least 2 Directors
Confidentiality
- ▪ Director’s details – part of the public record
- ▪ Shareholder’s details – part of the public record
- ▪ Beneficial owner’s details – disclosed to the Authorities
Taxation
- ▪ 12.5% corporate tax rate on trading income is one of the lowest “onshore” corporate tax rates in the world
- ▪ A tax rate of 25% applies to passive income such as rental income, investment income, oil, gas, and mineral exploitations
- ▪ Standard VAT rate is 23%
Other benefits
- ▪ English speaking jurisdiction;
- ▪ Excellent international corporate image;
- ▪ EU and Eurozone member;
- ▪ Low corporate taxes with a universal rate of 12.5%;
- ▪ Extensive network of double taxation treaties;
- ▪ Ideal for international Joint Ventures where participants are willing to incorporate in a neutral state;
- ▪ Low banking fees and wide range of services including merchant accounts available.
Reporting
- ▪ Filing Accounts and Annual Return is obligatory;
- ▪ The first Annual Return shall be filed in 6 months after the incorporation date;
- ▪ The second Annual Return shall be filed in 18 months after the incorporation date;
- ▪ Accounts shall be filed along with the Annual Return;
- ▪ VAT declarations are filed once in 3 months.
Registered Agent
Not Required
Registered office
Required
Company name
- ▪ Language: Any
- ▪ Letters: From Roman alphabet
- ▪ The use of word “standard” is prohibited
- ▪ If a name includes words which imply specific functions e.g. “holding company”, “group”, etc. further information will be required
- ▪ Must be distinguishable from other already registered business names
- ▪ Cannot contain such words as Bank, University, Society, co-op, etc. without being approved by relevant bodies
- ▪ Name denoting any connection to local, state or national government are generally prohibited
Initial steps
- ▪ Requesting preferable company names from the side of client;
- ▪ Checking the availability of selected Company names;
- ▪ Gathering required due diligence from the client;
- ▪ Issuing the invoice for our services after the preferred Company name is approved to be available.
Incorporation of company
- ▪ Sending the client important information and documents and gathering the relevant information;
- ▪ Preparation of the full package of incorporation documents and sending it to the client for approval and signing;
- ▪ Filing the documents to the Commercial Register on client’s behalf;
- ▪ Covering state fees.
Opening the bank account
- ▪ We can assist you with the opening of bank account in any chosen jurisdiction among those we offer. Please note that bank requirements and time frame vary from bank to bank.
Transmission of documents
- ▪ Hard copies of company incorporation documents will be sent to the address provided by the client via courier.
Please provide us with the following documents and data:
For each Director and Shareholder
- ▪ Certified passport copy
- ▪ Certified proof of residential address
If Shreholder is legal entity
- ▪ Valid certificates of Good Standing
- ▪ Valid certificate of Incumbency
In order to open a bank account for Irish company, you will be required to provide the following documents:
- ▪ Certified copy of a valid passport (of each Shareholder and Director)
- ▪ Proof of address (e.g. recent utility bill of each Shareholder and Director)
- ▪ CV (of each Director and Shareholder)
- ▪ Optional: Bank reference (of each Director)
- ▪ Optional: Legal reference (of each Director and Shareholder)
N.B.
- ▪ If documents are not in English language or language of particular country, then they must be accompanied by a notarized translation.
- ▪ Additional documents may be requested by the Company House or local bank at any point to verify specific information.
- ▪ When Shareholders are legal entities, it is required to provide apostilled set of corporate documents and certificate of Good Standing.
Capital
- ▪ Amount of paid up capital
Company name
- ▪ Three company names in order of preference