Ireland

Ireland is attractive for its low corporate tax of 12.5%, one of the lowest in the European Union. It has been the EU member since 1973. The country belongs to one of the most popular locations for investment in Europe and attracts mainly companies from IT sector. As the Irish economy relies heavily on foreign trade, its government is truly committed to provide beneficial incentives schemes for investors.

The official currency is Euro. Irish legislation recognizes various types of companies e.g.: Private Company Limited, Public Limited Company or Limited Liability Partnership.

Legal formPrivate Limited Company limited by shares (Ltd.)
LegislationCommon law
Foundation timeOnce received all required documents from a client, the incorporation of the new Ltd. takes usually from 3 to 5 days and documents are delivered within 3 weeks.
ShareholdersMinimum required: 1
Form: physical person/corporate body (both possible)
Nationality: Any (Irish nationality not necessary)
DirectorsMinimum managers required: 2 Form: physical person
Nationality: At least 1 director must be resident within the European Economic Area
Other: Secretary obligatory, both physical person and corporate body possible, does not have to be an Irish resident
Share capitalMinimum paid up Share capital 1EUR, usual Authorized Share capital 100,000EUR
Bearer sharesNot Allowed
TaxesCorporate income tax rate: 12,5% (CIT exemption if certain conditions are satisfied)
Withholding tax: the payment of dividends does not have to be subject to withholding tax if certain conditions are met; generally dividends, royalties, interests subject to 20% withholding tax unless the rate is reduced by a tax treaty, EU directives
VAT: 23% standard rate and reduced rates of 13.5% and 9%. Generally, the registration threshold for VAT purposes is EUR 75.000 per annum where 90% of turnover is from the supply of goods, and EUR 37,500 in most other cases. VAT returns and payments are required every 2 months.
Other: Extensive Double Tax Treaty network
AccountancyFiling of accounts is required
AuditRequired if at least 2 of the three following conditions are met: total gross assets exceeds EUR 1.9 million, turnover exceeds EUR 3.8 million and number of employees exceeds 50 in respect of any financial year and in respect of that year and the financial year immediately preceding that year.
Anonymity and confidentialityThe companies register is publicly accessible
OtherShelf companies availability: YES
Registered office: Must be maintained in Ireland
General meetings: hold in Ireland, annually

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