When properly structured, Ireland company registration is an ideal, tax-efficient way to conduct business in the European Union. The information provided below, will assist you in determining whether Ireland company registration is the optimum corporate structure to fulfill your international business objectives.
Ireland company formation is attractive due to its low corporate tax of of 12.5%, one of the lowest in the European Union (EU). An Ireland company also accesses a wide network of 60 double taxation treaties with countries including European Union (EU) states, Australia, China, India, Japan, South Africa, South Korea and the US.
If properly structured, an Irish company enjoys legally tax exempt status when the entity i) is beneficially owned by non residents and ii) does not conduct business in Ireland and iii) is managed and controlled outside Ireland. Ireland is not perceived to be a tax haven, but a reputable trading jurisdiction.
Ireland has a well-developed business infrastructure, stable government and low-tax regime which greatly benefits investors incorporating an Ireland entity and make it an ideal European base. Irish company formation provides a legitimate corporate vehicle domiciled in a reputable, highly regulated, international trading jurisdiction.
Investing in Ireland by registering a business allows 100% foreign ownership. A minimum of one shareholder is required, corporate shareholders are allowed and the shareholder can be of any nationality.
Ireland company incorporation is simple and cost-effective in Ireland. According to the World Bank's 2012 Doing Business Survey, Ireland is the world's 10th easiest place to do business. The survey measures factors including business start up procedures, time, cost and minimum capital required to start a business in Ireland. Furthermore, Ireland is positively ranked as the 19th least corrupt country in the 2011 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians.
Ireland company incorporation is stimulated by the government via Enterprise Ireland. This is a government agency responsible for developing successful Irish enterprise. Enterprise Ireland helps start up companies to set up and grow in global markets through investment grants and incentives.
Ireland is positively ranked as the world's 9th freest economy in the Heritage Foundation's 2012 Index of Economic Freedom, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets.
In its 2011 World Competitiveness Yearbook, the Switzerland-based IMD positively ranks Ireland as the world's 24th most competitive economy. The ranking takes into account factors including economic performance, government efficiency, business efficiency and infrastructure.
Over the past few years, Ireland has maintained a very high Human Development Index (HDI) ranking of 7th in the world. The HDI is an index developed by the United Nations that measures standard of living and ranks 182 countries based on several factors related to GDP, education and life expectancy.
Healy Consultants transparent, logical procedures mean Ireland company registration is a hassle-free process. Clients are not required to visit Ireland at any stage of the engagement to complete Ireland company setup.
An Irish business requires a minimum of two directors, one of whom is resident in the European Union (EU). However, the directors can be of any nationality.
Following Ireland company formation, it is necessary to register the company for VAT if annual sales exceed €37,500 (US$47,000) for the supply of services, or if sales exceed €75,000 (US$94,000) for the supply of goods.
After Ireland company incorporation, financial statements are audited and submitted annually to the Companies Registration Office. Healy Consultants will assist our clients efficiently and effectively to complete this annual statutory obligation.
There are three main legal structures available for foreigners looking to set up a business in Ireland. Healy Consultants assists in determining which entity is most suitable for our Clients’ needs.
Limited Company
An Irish Limited Company is the most popular form of company for people who wish to start a business in Ireland. It is a separate legal entity from its owners, and as such, claims are limited to just the company’s assets. There are many types of Limited Companies:
Private Limited Company – this is the most popular entity for private businesses and ventures. The liability of this type of company is limited by its shares, with each shareholder’s liability extending only to the amount they have invested in the company.
Company Limited by Guarantee – this type of company is used to give corporate protection to charities, trade associations, sports club, and other non-profit making activities.
Private Limited Company with Share Capital – this is a company where members are liable up to the amount unpaid on the shares they hold, as well as the amount undertaken to add to the company’s assets. The maximum number of shareholders is 99.
Public Limited Company – members’ liability is limited to just the amount unpaid on shares held. A PLC must have at least seven members, and a minimum issued capital of around €38,000, of which 25% must be paid up upon applying for a trading certificate.
Branch
Foreigners can also set up a branch of their existing company in Ireland. Liability of a branch company extends to its parent company, and must be represented by someone authorized to accept legal service in Ireland. A more popular alternative to a branch is a subsidiary company, which is considered a separate legal entity from its parent company.
Sole Trader/Partnership
A sole trader company is, as its name suggests, a business set up by an individual. Liability for this type of company is borne entirely by the proprietor, as the business is not seen as a separate legal entity from its owner. A partnership is similar to a Sole Trader company, except that the company is registered to two or more individuals. Only residents of the Republic of Ireland are allowed to register these company types.
Ireland shareholders and agents
Healy Consultants provides our Clients with i) nominee Ireland shareholders and directors and ii) professional agents and distributors. Detailed due diligence is available for each South African national.
Ireland office premises
Before the Government approves Ireland company registration, our Client must sign an office premises lease agreement. Some of our Clients require Healy Consultants virtual office for six months until a full time business office in Ireland is found. Alternatively, Healy Consultants will assist our Client find office premises and or warehouse space. Healy Consultants assists our Clients secure a family home for the foreign entrepreneur and his expatriate staff. With a network of agents and property owners all over Ireland, allow us to project manage your family migration.
Trademark and copyright protection
Entrepreneurs completing business formation in Ireland benefit from the EU’s numerous Intellectual Property laws. Healy Consultants will assist our Clients with trademark and patent registration. Registering your brand, trademark and designs is particularly important in Europe.
Company secretary services
Healy Consultants assist our Clients with i) share transfers, ii) annual license renewals, iii) import and export documentation, and iv) W.L.L. License - increasing Capital / withdrawal of Partners / Adding Partners.
Market research
Healy Consultants offers a comprehensive range of South Africa research services including i) industrial or business analysis ii) economic and political overview iii) competitor analysis iv) customer analysis v) regulation analysis vi) market entry strategies vii) business partner matching viii) SWOT analysis ix) financial projections x) location and site evaluation xi) business life cycle analysis.
A feasibility study helps our Client determine if they should sell their products and services in Ireland. The feasibility study covers i) business alternatives ii) new opportunities iii) reasons not to proceed iv) what could go wrong. Advantages of a feasibility study include:
Enhancing the probability of business venture success by identifying business risk early.
Provides quality information for decision making.
Provides documentation that the business venture was thoroughly investigated.
Helps secure funding from lending institutions and other sources.
If our Clients are satisfied with the outcome of the feasibility study, Healy Consultants will prepare a detailed business plan. A business plan provides a “roadmap” of how the business will be created and developed. The business plan provides the “blueprint” for project implementation.
Saint Patrick's is an Irish holiday honoring Saint Patrick.
There are more mobile phones in Ireland than there are people.
Ireland’s national language is Irish, but it is spoken as the everyday language only in the Gaeltacht (Irish speaking) regions – chiefly in Galway, Kerry, Cork, Mayo, Donegal, and Waterford. In all other parts of Ireland, English is the spoken language.
Dublin was founded by the Vikings in 988 and was originally called Dubh Linn (which means Black Pool in Irish).
Irish people are very passionate about Gaelic games – football, hurling, handball and camogie. Rugby and soccer are also very well supported in Ireland.
The Irish consume in average 131.1 liters of beer per year - the 2nd highest per capita consumption after the Czech Republic.
Ireland’s corporate tax rate of 12.5% is the lowest in Europe.
The longest place name in Ireland is Muckanaghederdauhaulia.
FEES SCHEDULE
Year 1 incorporation
€1,935 *
Annual fees from Year 2
€1,695 *
Resident director fee
€4,325 **
Company de-registration
€2,450
* Depending on corporate structure and professional services required.
** Excludes €2,100 refundable deposit.
FEES SCHEDULE