Eternity Law International — News — Corporate services in Ireland

Corporate services in Ireland

Published:
March 28, 2023

The pace of economic development in Ireland surprises everyone. That is why this country is considered attractive for business registration. Foreign investors who turn to Ireland Corporate Services are also aware of the good conditions regarding taxation in this country. Consulting companies are already ready to provide professional assistance in the registration of a legal entity. But investors should still be aware of certain nuances.

Why Choose Ireland Corporate Services for Doing Business

Ireland is an independent state and has been out of the European Union for almost half a century. Today it has a stable economy with a proper taxation policy. This attracts foreign investors, who are willing to invest their money to develop the region.

Of course, it was not always like that. For a certain period, the country went through a long breakaway from the United Kingdom. However, its government made the right decisions, helped reduce tax burdens, and attracted foreign capital. At the beginning of this millennium, the country experienced a dramatic economic and technological leap forward.  Ireland became the center of technology development and finance attraction across Western Europe.

During the World Financial Crisis, its performance slowed somewhat. But economic growth did not stop. Now it is economically profitable to open a business in this country. It allows you to enter new markets around the world and receive preferential tax treatment.

Perhaps this country is not the most attractive of all the countries in the world. However, it is consistently at the forefront in terms of ease of operation and taxation. At the same time, it is not an offshore zone. However, the corporate tax is one of the lowest in Europe (12.5%). Thanks to the provision of various benefits this rate can be significantly reduced. Therefore it is very profitable to register a firm in Ireland.

Registering an IT Company

The biggest profits in the world right now come from the IT business. That is why states do everything to attract such companies to register legal entities in their country. Ireland has managed to create the right policy with a favorable environment for this market.

Today most of the major giants in the development of information technology have their companies here. And the reason for this decision the management of the companies Google, Facebook, Twitter, and others call it favorable conditions of registration.

For example, in Ireland, the registration of intellectual property rights will allow using a quarter of the tax on expenditures related to research work. The tax on income for patents and copyrights will be around 6.25%. Such conditions are rarely offered in other countries.

Taxation

On average, a corporate tax of 25% is levied on a company. However, it applies only to intermediary companies. The most common are holding companies and investment companies.

If your company will be engaged in the production or sale of goods, the tax rate will be reduced to 12.5%. Similar measures apply to trading firms.

When paying dividends to non-residents in Ireland, no tax is applied. VAT in the country is paid at 23%, and capital gains tax will be 33%. Also in Ireland, the government has signed about 60 agreements with other countries. This helps to avoid repetitive taxes in different states. Some agreements help with the exchange of taxes between states.

Requirements for companies to register as a legal entity

The most optimal form of ownership for a company is LLC. Most corporate services in Ireland offer it for work. To register, the following conditions must be met:

  • the minimum amount of the authorized capital of 100 Euros;
  • quarterly submission of VAT returns to the appropriate authorities;
  • annual filing of financial statements;
  • the first accounts must be filed within six months;
  • tax returns must be filed within 9 months from the date of registration of the company;
  • two directors and one shareholder;
  • at least one of the directors is an EU resident;
  • the first shareholders’ meeting may be held one and a half years after the registration of the company. Thereafter they are held annually and only in Ireland;
  • providing audited accounts if the company’s turnover exceeds 8.8 million euros.

If these conditions are met the company can safely operate in Ireland. In this case, LLC is allowed to issue registered shares without the right of alienation.

Average cost of company registration

The cost of services from consulting companies can vary greatly. For example, some offer assistance in opening an account with major banks as part of their package. Most cooperate with Allied Irish Bank. However, to open an account, the personal presence of the director is required. On average, the cost of such services is in the range of 450 Euros but can be as high as 800 Euros.

In Ireland, it is not possible to open an account for an offshore company. However, it is possible to open a company where the main shareholder is such a company. But such actions can attract the attention of Compliance. When checking the company must have a real business in another country (production, trade, etc.).

Such a procedure may take about 10 working days. After opening an account it is possible to work in an online format. Regarding other costs, all costs in corporate services Ireland can be estimated at up to a thousand euros on average.

You could be interested

ICO assistance

Our company has significant experience in professional legal support of projects based on blockchain technologies and ICOs. During the existence of the company, our specialists have provided legal services to more than 30 companies whose activities are related to ICO projects, mining, exchanges and cryptocurrency exchangers. In addition, we helped create legally stable structures for...

Cryptolicense in Costa Rica

For various compelling reasons, Costa Rica has earned a reputation as a “crypto oasis” because the subject can conduct its company without a Costa Rica crypto license. A persuasive case can be made that these digital assets fall under the category of “generally acknowledged resources” in Costa Rica. However, there remain complexities for employers opting...

EMI license in Belgium

The financial landscape is undergoing rapid transformation, with E-Money Institutions (EMIs) playing a pivotal role in reshaping our approach to financial transactions and sales. Belgium, frequently referred to as the “Fintech Epicenter of Europe,” stands as a symbol of innovation within the financial sector. One of the driving forces behind Belgium’s burgeoning fintech sector is...

White Label Curacao casino license

In the dynamic world of online-gambling, obtaining a casino permit is a pivotal step towards legitimacy and credibility. Among the plethora of jurisdictions offering such licenses, Curacao stands out as a popular choice for many operators, particularly with its White Label Curacao License option. This article delves into the intricacies of the white label Curacao...

International exchange of tax information

International exchange of tax information within the framework of BEPS. Globalization, which has marked the 21st century, has revealed many problems of some separate states. Moreover, one of the most important and significant was the problem of creating so-called offshore holes, where significant financial assets can be hidden, regardless of their origin. First time they...

North Macedonia Citizenship by Investment

Balkan-state with a colorful and inspiring look, many rivers and mountains. Everyone would like to go there at least once. Investors who have some funds at their disposal have a certain advantage, since they can not only visit there, but obtain North Macedonia citizenship by investments – very tempting. At now-moment, republican governmental structures are...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360