Ireland flag

IRELAND


In recent decades, Ireland has become one of the most promising jurisdictions to establish and establish a business thanks to the proactive efforts of the local government, the stable local political and economic environment. The state offers equal opportunities for entrepreneurship to both local and foreign businessmen. The list of advantages associated with jurisdiction is not limited to this point.


Advantages of Jurisdiction


Registering a company in Ireland can be a promising endeavor in view of the following general benefits that this jurisdiction provides to all investors interested in entering it:

  • A rapidly developing economy with an emphasis on the electronics, software, engineering and pharmaceutical sectors
  • Inclusion of skilled local labor, which is associated with moderate costs
  • Developed modern infrastructure
  • Favorable tax conditions for establishing and doing business, including the availability of preferences introduced by approximately 70 double taxation agreements.


    • These are basic points that need to be emphasized about jurisdiction at the outset. If you would like to find out more about the specific benefits that the jurisdiction can offer in your current business or interest areas, Smart Startup UK lawyers can advise you in more detail.


    Basic forms of legal and business presence


    Creating a company in Ireland or establishing a business presence in an alternative way is possible in one of the following forms:

  • Private company limited by shares - a type of Irish legal entity that can be incorporated and owned by persons whose liability for the results of such company's operations must not exceed the value of the shares, owned by such participants. There are certain restrictions in the legislation regarding the transfer of shares of such a company - they cannot be freely offered and sold to third parties. The same restrictions, in more detail, must be fixed in the company's statutory documents. The number of shareholders of this company must not exceed 149 people.
  • Public company with limited liability by shares – an option for doing business in which the participants are responsible for the results of the activity of such a company only within the limits of the shares they own. The minimum authorized capital for this company must be at least 25,000 Euro and ¼ of it must be paid in at the time of company registration. The main feature of this option for establishing a company is the possibility of listing shares on the stock exchange, as well as the possibility of freely offering and selling such shares to third parties without any restrictions. At the same time, stricter accounting and reporting requirements apply to such an entity.
  • Branch – an option suitable for foreign investors who do not wish to register a company in Ireland but want to test local business opportunities before deciding to invest further. Registration is necessary in this case and allows a foreign enterprise to carry out the same types of economic activity as in the country of its original registration.
  • Representative Office – this is another option for establishing a business presence in Ireland, suitable for foreign investors, which excludes the possibility of doing business. At the same time, it is possible to carry out promotional and market research, the results of which may be important in deciding whether to start business in the jurisdiction on a larger scale.


    • These are the main forms for establishing a business presence in the jurisdiction under consideration. If you are interested in registering a company in Ireland, but do not know which option may work best for your case, the lawyers at Smart Startup UK are ready to make this matter easier to resolve. The lawyers will suggest the most suitable option for doing business locally according to the history of your business case and current goals.


    Requirements and steps for company registration


    Establishing a company in Ireland is done according to an individual strategy. But the general steps to go through are as follows:

  • A selection of preferred types of business operations that the expected company in Ireland will carry out.
  • Choose a company name for a company in Ireland, check and save the final company name option.
  • Collection of information from shareholders and beneficiaries to be submitted with the registration documents.
  • Selecting future managers and gathering the necessary information for their appointment.
  • Preparation of Articles of Association and Company Registration Forms in Ireland.
  • Contribution of authorized capital of a future enterprise.
  • Formation of the package of registration documents and its transmission for review by the registrar. The company is deemed to be formed from the time of entry of the relevant information in the Register of Companies in Ireland.
  • Registering an enterprise for the purpose of paying taxes and hiring employees.
  • Applying for licenses and special permits that are required to carry out certain types of business operations (such as banking and finance).


    • If you have a pre-developed idea for a company that you want to open in Ireland, Smart Startup UK lawyers are ready to develop an individualized plan for this and assist in its implementation and further support of a newly formed enterprise.


    Legal and Regulatory Framework


    Equal opportunities to set up a company in Ireland are presented to both local and foreign businessmen. The process of opening a new legal entity is not bureaucratic and complicated. State authorities express a business-oriented approach to the registration of the company and its subsequent functioning. Depending on the type of business entity, different accounting and reporting requirements apply. Certain types of regulated commercial activities may require special permits or licenses (such as banking and finance). The Companies Act, the Business Names Registration Act and the Investment Funds, Companies and Other Regulations Act are the most important legal acts that govern the process of registering a company and its subsequent existence. The Companies Registration Office and the Central Bank of Ireland are the main government authorities that foreign investors are likely to encounter while setting up a company and dealing with its subsequent operations.


    Tax system in Ireland


    The possibility of setting up a company in Ireland should be evaluated together with the list of tax highlights that are important in making the final decision whether to register a company in Ireland or in another jurisdiction:

  • Corporate Income Tax Rates – (1) Commercial Corporations – 12.5% (2) Non-Commercial Corporations – 25%
  • Personal income tax rate – 40%
  • Value added tax rate – 23%
  • Withholding tax rates – (1) dividends – 25% (2) interest – 20% (3) remuneration – 20%
  • Tax rates on capital gains – (1) corporate – 33% (2) personal – 33%


    • CREATE A COMPANY


  • Check and reserve a company name
  • Help with CRO submission for the company
  • Company registration, including state fees
  • Minutes of the meeting of the directors of the company
  • Assistance in registering the company with the tax authorities in Ireland
  • Assistance with registration of a company with the insurance agencies in Ireland (PAYE / PRSI)
  • Company stamp
  • Obtain an Irish TRN (Tax Registration Number)
  • Opening an account with Bank of Ireland
  • Local Director for one (1) year
  • VAT registration
  • Local shareholder for one (1) year
  • Free consultation
  • Help with online trading and opening an account at viva.com for online trading
  • Accounting services - 12 months
  • Annual renewal (payable from the second year)

    • *Within 28 days


    IMPORTANT! We can provide you with the initial share capital (if the amount is over EUR 5,000) for the registration of your company in the form of a loan from our company. Please, if you are interested, make an inquiry to us.


    What is the procedure!

    1. You submit a request for company registration using the request form.

    2. We check if the registration company name is free and eligible for registration.

    3. Choose a bank that suits your company's needs from a list of Smart Startup UK partner banks provided.

    4. We send you a proforma payment invoice to pay to our bank account + the initial capital amount of your company.

    5. You receive all necessary company documents for verification.

    6. You receive details of your newly opened bank account.

    7. In the specified period (for Ireland it is 28 days), you receive all the services included in the package.

    8. You can manage through our platform all the services included in the package, as our team works 24/7 and you can get help from us within up to 30 minutes. We have built an internal ticketing system for our customers through which we process your every support request.


    All services like management, accounting, request to open bank accounts, licensing, filing tax returns, paying taxes and more are done through your account on our platform, it makes it easy managing your business!