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PACKAGE PRICES:
Gold Package
Silver Package
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IRELAND

SETTING UP IN BUSINESS

Introduction

Ireland may be a small country but it has become one of the EU’s biggest success stories. The so-called Celtic Tiger economy has powered ahead in recent years, fuelled by foreign investment, low corporate tax and a liberal approach to trade. Generous investment incentives complete an attractive package. No wonder that thousands of foreign investors have opened an Irish company – contact us to find out how you can open one too.

Are there other reasons to open up in Ireland?

There are plenty. Geography to start with – Ireland is perfectly positioned as a trade bridge between Europe and the United States. Secondly, it is a global e-commerce hub, boasting a truly world-class telecommunications network. Above all, it has a particularly beneficial tax environment with corporation tax fixed at 12.5% on all trading income, whether manufacturing or otherwise. If you need advice on tax planning in Ireland we can put you in touch with our team of local specialists.

What are the main types of company in Ireland?

There are four major kinds of business entity, and they are as follows:
   
bullet private limited company (PrC)
bullet public limited company (PLC)
bullet partnerships
bullet branches
   
What are the main features of a private limited company?
   
bullet most popular format for foreign investors
bullet no minimum threshold of share capital
bullet two directors and company secretary required
bullet one director to reside in Ireland, or €25,395 bond
bullet audited accounts to be filed annually
   
What are the main features of a PLC?
   
bullet the minimum share capital for a PLC is €38,092
bullet at least 25% of the authorised share capital must be paid up
bullet minimum of seven shareholders required
bullet audited accounts to be filed annually
   
What are the main features of a partnership?
   
bullet available as a general, limited or investment limited partnership
bullet general partnerships have unlimited liability
bullet limited partnerships have limited liability
bullet investment limited partnerships allow for double tax relief
   
How do investment limited partnerships (ILPs) work?

An ILP is useful for collective investment companies, having tax transparency which enables investors to secure double tax relief. Requirements include:
   
bullet one general partner must be an Irish incorporated company
bullet at least two directors must be Irish
bullet minimum share capital €100,000
   
What are the main features of a branch?
   
bullet foreign parent responsible for all liabilities of Irish branch
bullet branch required to register with Registrar of Companies
bullet minimum of two directors; accounts to be filed annually
   
How easy is it to recruit staff in Ireland?

Ireland has a well educated and motivated workforce but the economic boom has resulted in very high employment levels, particularly in electronics and IT. This poses a challenge for companies seeking to enter Ireland. There is a thriving recruitment sector, however, and we will be happy to help if you require advice on this – contact us.

What is the regulatory environment like?

Ireland’s rapid economic growth has prompted the government to streamline its regulatory infrastructure. Financial controls are now the responsibility of a single body, the Irish Financial Services Regulatory Authority. The overall regime is relaxed. There are no general restrictions to foreign ownership, capital and dividends can be freely repatriated and Ireland has bilateral tax treaties with many countries.

Are there financial incentives available?

The Irish authorities, in coordination with the EU, offer a broad range of incentives for international investors, including the following:
   
bullet capital grants towards the cost of land, buildings, plant and equipment
bullet employment and training grants to promote job creation
bullet research and development grants
   
And what about banking facilities?

Ireland is emerging as a major international banking centre in its own right. The main national clearing banks offer a full range of services, including foreign exchange and hedging, while many international banks are represented here for commercial lending and foreign exchange facilities. Opening a bank account is just about the first step you will need to take if you establish a company in Ireland, and we will be happy to help you with this.

How can I get more information?

Our company formation service makes it easy for you to open a company in Ireland, so please contact us for further details.
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