Irish organisations in 2023
- IDA Ireland works with businesses by providing services and support to encourage growth and further investment. Some of these services include i) Advice on property solutions ii) Assistance in setting up iii) Providing information and statistics of key business areas within Ireland;
- Enterprise Ireland supports high-potential export focused entrepreneurs in their initial setup phase. Some of the support services provided include i) helping to fund the business ii) advice, guidance, and introductions iii) practical help to enter foreign markets;
- Schemes such as the immigrant investor program and the startup entrepreneur program have been put into place by INIS (Irish Naturalization and Immigration services) to make it easier for foreign entrepreneurs and investors interested in Ireland business formation to take up residency in Ireland with the interest of developing their businesses.
Interesting facts about Ireland
- The Irish Government is very welcoming of multi-national companies because
- Almost 1,500 companies have chosen the country as their base to do business, not just those from throughout Europe, but worldwide.
- Overseas companies located at present account for approximately 88% of all Irish
Frequently asked questions
Can an Irish company conduct international business?Yes. If properly structured, an Irish company is an excellent tax-efficient corporate vehicle through which to conduct international business.
What makes an Irish company suitable to use as a European headquarters?Ireland has a well-developed business and legal infrastructure, has a stable government and is a key member of the European Union (EU). In addition, Ireland has the lowest corporate tax rate in Europe, at 12.5%.
What makes Ireland a good base for international companies?Ireland has a well-developed business and legal infrastructure, has a stable government and is a key member of the European Union (EU). In addition, Ireland has the lowest corporate tax rate in Europe, at 12.5%. Also, Ireland has an outward-looking policy towards foreign investment, and offers a range of incentives for entrepreneurs and organisations.
What are the tax incentives associated with incorporating a company in Ireland?Ireland has the lowest corporate tax rate in Europe of 12.5%. In addition, the country has signed double taxation agreements with 48 countries, which offer protection from duplicate taxation.
What are the negative tax implications of setting up an Irish business?Ireland-resident companies are liable to pay capital gains tax of 20%.
Is it possible to set up an Irish offshore company?Such a structure does not exist. Under the Finance Bill of 1999, all companies incorporated in Ireland are classed as ‘resident’ and are liable to pay corporation tax on their global income.
Are there any incentives available to investors planning to set up in Ireland?
Does an Irish company need to prepare and submit annual accounts?Yes. They must be audited and submitted annually to the Irish Companies Registration office.
How many directors and shareholders must an Irish company have?Under Irish Company law, all companies must have a minimum of two directors, and a minimum of one shareholder.
Does an Irish company need a resident director?Yes, at least one director must be resident in the European Union (EU), though she/he need not be an Irish citizen.