Company Formation Services in Ireland
Ireland is located to the west of Great Britain, separated from it by the Irish Sea. The country spans approximately 83,270 square kilometers, with a total population of around 5 million people, of which roughly 3 million reside in the Republic of Ireland. Dublin and its neighboring suburbs are home to approximately one-third of the population. The Republic of Ireland operates as a parliamentary democracy under a written constitution and is a full member of the European Union, affording Irish citizens the automatic right to live and work across the EU. Our Ireland Company Formation Services are designed to assist you in establishing your business in the Republic of Ireland, leveraging the expertise of our professionals.
Private Company Limited by Shares:
Corporate Features
General
- Type of company: Resident Private Limited
- Type of law: Common Law based on English Common Law
- Shelf company availability: No
- Time to establish a new company: Approximately 10 days
- Migration of Domicile permitted: No
- Corporate taxation: 12.5% on profits
- Double taxation treaty access: Yes
- Language of company name: Latin Alphabet
Corporate Requirements
- Minimum number of Shareholders/Members: 1 (normally 2)
- Minimum number of Directors/Managers: 1
- Corporate Directors: Not allowed
- Company Secretary required: Yes
- Minimum paid-up capital: Euro 1
- Usual authorized capital: Euro 1,000 or Euro 1,000,000
Local Requirements
- Registered Office/Agent: Required
- Company Secretary: Required
- Local Directors: Minimum of 1 local or EEA Resident required
- Local Meetings: Not mandatory
- Government Register of Directors/Managers: Yes
- Government Register of Shareholders/Members: Yes
Annual Requirements
- Annual Return: Yes
- Annual Return Filing Fee: Euro 40
Accounts
- Requirement to prepare: Yes
- Audit Requirement: Yes, but small company exemption available
- Requirement to file accounts: Yes
- Publicly accessible accounts: Yes
General Corporate Information
Type of Law
Common Law based on English Common Law.
Principal Corporate Legislation
Companies Acts 1963 to 1990 as amended. Particularly The Companies (Amendment) (No.2) Act 1999.
Company Information
Type of Company for International Trade and Investment: Private limited companies.
Procedure to Incorporate
Submission of Memorandum and Articles of Association, along with a Form A1 detailing the first directors, secretary, and the Registered Office’s location. It’s worth noting that the Registry incorporates new companies that demonstrate an intention to engage in real business activities in Ireland.
Language of Legislation and Corporate Documents
English.
Registered Office Required
Yes, it must be maintained in the Republic of Ireland.
Shelf Companies Available
Yes.
Time Scale to Incorporate
Typically, it takes 5-7 days, after completion of anti-money laundering (AML) checks and receipt of signed documents.
Compliance
Authorized and Issued Share Capital
No capital duty is levied on authorized capital, but there’s a 1% capital duty on the issued share capital. There is no maximum limit for authorized capital, and the minimum issued capital is two shares of par value.
Classes of Shares Permitted
Registered shares, preference shares, redeemable shares, and shares with or without voting rights.
Bearer Shares
Bearer shares do exist, but they are rare due to the requirement for Central Bank consent, which is likely to be denied. Issuing bearer shares could potentially impact a company’s status as a private company.
Financial Statements Required
Audited accounts are filed with the annual return, and annual accounts must be submitted to the tax authorities.
Taxation
Companies are subject to taxation, and Ireland has anti-avoidance legislation in place. The corporate tax rates include:
- Trading Income: 12.5%
- Passive Income: 25%
- Manufacturing, Software, and certain Financial Services Operations: 10% (phased out up to 2010, then 12.5%)
- Collective Investment Funds: 0%
- Shipping (Special tonnage tax regime): Nominal tax up to €5 million per annum
- Patent Income: Generally 0% on Irish invention
Double Taxation Agreements
Ireland is globally recognized for its favorable environment for company incorporation, primarily attributed to its extensive network of tax treaties.
In the event that you are a resident in one nation but receive income and gains from another, the potential for dual taxation may arise. Double taxation agreements are designed to mitigate this issue by ensuring that you only pay taxes to a single country. The specifics of such agreements outline which nation has the authority to levy taxes.
At present, Ireland has established comprehensive double taxation agreements with 74 different countries, with 73 of these agreements currently in effect. An outstanding agreement with Ghana remains pending implementation.
These double taxation agreements encompass a range of direct taxes, including income tax, universal social charge, corporation tax, and capital gains tax in the case of Ireland.
Ireland’s active double taxation agreements extend to the following countries:
Albania, Armenia, Australia, Austria, Bahrain, Belarus, Belgium, Bosnia-Herzegovina, Botswana, Bulgaria, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Ethiopia, Finland, France, Georgia, Germany, Greece, Hong Kong, Hungary, Iceland, India, Israel, Italy, Japan, Korea (Republic of), Kuwait, Latvia, Lithuania, Luxembourg, Macedonia, Malaysia, Malta, Mexico, Moldova, Montenegro, Morocco, Netherlands, New Zealand, Norway, Pakistan, Panama, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland, Thailand, Turkey, UAE (United Arab Emirates), Ukraine, UK (United Kingdom), USA (United States of America), Uzbekistan, Vietnam, Zambia.
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