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Set up a company in Ireland

Gateway Ireland

Ease of Doing Business rank

#24 out of 190 countries around the globe

Index of economic freedom

#6out of 186 countries the globe

International Tax Competitiveness Index rank

#20out of 36 countries the globe

Why Ireland

Ireland is the largest European IT center onboarded largest in the world internet giants. Such companies as Microsoft, Amazon, Google, Dell, Apple, Facebook, PayPal and many others use Ireland to optimize tax burden. The main advantage is the ability to pay taxes in the country where the headquarters or head office is located (outside the jurisdiction of Ireland). This model is successfully used by many international companies which has minimized the payment of taxes on its multi-billion dollar profits.

Unique Tax Incentives

The conditions for tax reduction rates in Ireland under which the company pays 0% VAT, 0% tax on retained earnings (corporate tax), 0% tax on dividends when withdrawing income from Ireland and is not required to submit annual financial statements are the following:

Registration of legal form LP
Founders are not tax residents of Ireland (at least two partners are required). One of the partners must be a resident of one of the EEA states
Profits from doing business are generated outside the jurisdiction of Ireland (e.g, the sale of a service product can be carried out from Ireland, while the cash flows from customers come from outside the country)
Headquarters (HQ) must be located outside of Irish jurisdiction

In addition, the country's legislation guarantees confidentiality and for LP legal forms, the Register of Beneficiaries in Ireland is closed.

Item

Rate

Value Added Tax (VAT)

23%

VAT Reduced rate

0% - 13.5%

Corporate tax (tax on retained earnings)

12.5%

Capital Duty

Land Tax

0%-0.5%

Tax on dividends for individuals (approx.)

25%

Individual income tax (tax on salary)

20%-40%

Payroll tax

Social Security Contribution (paid on the top of the salary)

11.05%

Minimum salary (per hour)

10.1 EUR

Minimum salary per month

3,400 EUR

Average rental price for class A office spaces/ per 1 sq. meter

15 EUR

Share capital requirement for LLC

100 EUR

Share capital requirements

The main legal forms in Ireland are Limited Liability Company (LLC) locally named Private Company Limited by Shares (LTD), and Public Liability Company (PLC). LLC and PLC have different minimum share capital requirements. For LLC it is only 100€ while for PLC it is 38,000€. There is also one unique legal form named Limited Partnership (LP) which involves some unique tax incentives.

Timeline to set up a company

Depending on the method is used to set up a company, the time required for the process may vary. If a private person establishing a company is a non-resident, the formation process might be done using a power of attorney or by physical presence:

By the PoA: 4-5 days after we get all the documents
By physical presence: 4-5 days

Business climate

Ireland has been ranked among the top ten countries for doing business by Forbes magazine in recent years and still holds a leading position in the EU in high tech and financial services. With its developed infrastructure, economic and political stability, highly qualified personnel, progressive legislation and flexible taxation system, Ireland is one of the most attractive countries for registering a company and doing business.

The favorable business climate has attracted investments from major international companies and attracted many promising startups. Today Ireland is a strategically important foothold for foreign companies wishing to enter the global market. A business launched in Ireland enjoys the advantage of being close to leading world leaders and a well-established system for the internationalization and commercialization of its business with direct access to the European and American markets.

Customs duties

As Ireland is a member of the EU, custom duty rates are decided by TARIC - the common customs tariff in the European Union. Custom Duty rates are based on the value of the goods and dependent on the type and the country of origin. Imports from EFTA countries, Switzerland and EU candidates are generally free of duty. Usually, duty rates stay between 0% and 10%.

2Free Trade Zones

3Labor force

4Business migration opportunities

Ireland is one of the most favorable and prestigious countries for doing business for foreigners. A good reputation, stable economy, low corporate tax and various tax incentives combined with a transparent taxation system made Ireland an attractive country for foreign investors and entrepreneurs. Our team can help you to establish and maintain business in Ireland. We would be glad to become a one stop shop for your needs and assist with the entire company formation process including bank account opening and many other related services.

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What is included in the company formation service package

Company formation

Full turn-key assistance with setting up a company in EU by Power of Attorney (remotely) or by physical presence including such steps as verification of the company name; preparation of individual AoA, coordination of all necessary legal formalities and handling of the company entry into the commercial register.

Bank Account

The issue of opening a corporate account in the Bank for the company where non-EU residents are acting as directors and shareholders is still urgent. Our services for opening an account include an analysis of your business model, risk assessment and selection of the optimal Bank in the EU, collection and preparation documents package (in accordance with the requirements of the chosen Bank), representation of your interests in negotiations (if necessary).

Registered and Virtual Office

In order to set up a company in EU jurisdiction, the address of registration and virtual box services are required. In the frames of our solution, we provide an address in EU and assist with mail forwarding and other incoming physical correspondence from governmental authorities, Banks and third parties. Upon request, we could assist with EU phone number and receptionist answering on the calls.

Legal Templates

As soon as the company registration procedure is fully completed, the question of starting operating activities becomes relevant. In order to accelerate the process and save money on local advisors, we will provide all the necessary legal document templates drafted in accordance with EU law (NDA, employment agreement, service agreement, policies etc.)

Tax number obtainment

Registration of your entity within EU tax authorities and acquisition of VAT number and internal tax number (if applicable)

Dedicated consultant

Our aim is to make the moment of launching your business maximum simple, so it would be possible to concentrate on important matters and operate efficiently. Therefore, you will be provided with an individual consultant who will lead you through the entire process of the company formation and further will be assisting with other business-related issues and unique needs

Auxiliary services

Accounting and Taxation

Legal entity registered in EU obliged to conduct bookkeeping records and submit reports to the state authorities (Income tax and social security contribution report on employees, VAT reports on a monthly basis and annual reports). Jointly with our partners, we will be happy to assist your company on this matter and develop an optimal taxation model individually under your business.

Trademark registration

Registration of trademark within European Union Intellectual Property Office (EUIPO). Word mark, figurative mark, figurative mark containing word elements, shape mark, shape mark containing word elements, position mark, pattern mark, single color mark, sound mark, motion mark, multimedia mark, hologram mark.

Local Director

The need for local hired director often in demand across our Clients since it resolves issues with Bank compliance (if any arise) and makes it possible to conduct remotely operating activities more efficiently. We will carefully analyze your needs and weigh all the risks in order to conduct a search for a suitable candidate for the position.

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