LSC & Partners - Corporate & Tax Consultancy

Why Open Company in Ireland?

Ireland is a very suitable jurisdiction for companies to be based whilst acting in commercial transactions. There are a number of structures available which allow an Irish entity to be used in worldwide commercial transactions whilst minimising the exposure to Irish tax. It is relatively easy and inexpensive to form a company in Ireland and there are many advantages to having a company here, such as:

• Having a company in Ireland allows you to be part of the EU in an English-speaking country;
• Access to all the EU trade & customs agreements between Ireland and other non-EU countries;
• Access to over 73 double tax treaties;
• Cross Border VAT registration with simplified administration;
• Easy distribution of goods and services;
• EURO currency bank account;
• Low corporate tax rate of less than 12.50% after deductions;
• A large variety of tax reliefs and incentives aimed at attracting foreign companies Read more about Setting up a company in Ireland. You can speak to our Ireland business expert here.

Setting up a Company in Ireland

Advantages

With a limited company in Ireland, you can avail of the following advantages:

1. Easily trade services and/or products within Europe.
2. Benefit from low corporate tax rate, a network of double tax treaties and other tax incentives.
3. Be part of a thriving entrepreneurial community.
4. Avail of an English speaking educated mobile workforce.
5. Benefit from pro-business state and semi-state initiatives to support start-ups in Ireland with practical and financial assistance.

Moreover, Ireland is also becoming increasingly attractive as a holding company location for foreign investors particularly where it is combined with a trading activity such as headquarter activities, treasury or research & development.

Private Company Limited by Shares

Main Uses

An Irish Private Company Limited by Shares (LTD) is one of the most common business structures in Ireland and offers various benefits to entrepreneurs and business owners. Here are some main uses and scenarios where setting up an LTD company in Ireland might be advantageous:

Small to Medium-sized Businesses:

LTD companies are well-suited for small to medium-sized businesses across various industries, including retail, services, technology, manufacturing, and more. They provide a flexible and widely recognized structure for conducting business activities.

Entrepreneurial Ventures:

Startups and new business ventures can benefit from the limited liability protection that an LTD company offers to its shareholders. This structure encourages entrepreneurship by safeguarding personal assets.

Professional Services Firms:

Professionals like lawyers, accountants, consultants, and creatives often choose the LTD structure to operate their practices. It adds a layer of professionalism and limited liability to their services.

Foreign Companies Expanding to Europe:

Non-European companies looking to establish a presence in the European Union often choose Ireland as a base due to its business-friendly environment, access to European markets, and English-speaking workforce.

Holding Companies:

Ireland is often used as a location for holding companies due to its favorable tax regime and double taxation treaties. Multinational corporations use Irish holding companies to manage their global operations and investments.

Research and Development:

Companies engaged in research and development (R&D) activities can benefit from Ireland's research incentives and tax credits. An LTD structure facilitates fundraising and investment for R&D projects.

E-commerce and Online Businesses:

E-commerce, digital marketing, and online retail businesses find the LTD structure suitable for their operations. Ireland's connectivity and tech infrastructure support digital businesses.

Export and Import Businesses:

LTD companies can facilitate import and export activities, taking advantage of Ireland's strategic location within the EU.

Real Estate Investment:

Companies involved in real estate investment, property management, and development can utilize an LTD structure to manage their property assets and projects.

Family Businesses and Succession Planning:

An LTD company allows for easy transfer of ownership among family members, ensuring business continuity and wealth preservation.

Joint Ventures and Collaborations:

When multiple parties collaborate on a business venture, an LTD structure can provide a clear framework for ownership, management, and profit-sharing.

Tech Startups and Innovation:

Ireland's vibrant tech ecosystem and supportive regulatory environment make it an attractive destination for tech startups and companies involved in innovation.

Access to Capital:

LTD companies can raise capital by issuing shares to investors or securing loans from financial institutions. This access to funding supports business growth and development.

Professional Image and Brand Building:

Having "Limited" in the company name can enhance the company's professional image and credibility in the eyes of clients, partners, and investors.

Incorporate your Company in Ireland

Procedure to Incorporate

Submission of Constitution, which must state the intended business activity and the appropriate NACE code, together with a Form A1 detailing the first directors, secretary and situation of the Registered Office to be declared in the presence of a solicitor, notary or Commissioner of Oaths in the Republic of Ireland. It is important to note that the Registry will only incorporate new companies that prove they intend to undertake some form of activity in the Republic of Ireland. "Activity" means "any activity that a company may be lawfully formed to carry on and included the holding, acquisition or disposal of property of whatsoever kind".

Restrictions on Trading

Cannot solicit funds from or sell its shares to the public. Required to undertake some business within Ireland.

Powers of Company

A Company incorporated in the Republic of Ireland has the same powers as a natural person.

Language of Legislation and Corporate Documents

English.

Registered Office Required

Yes, must be maintained in the Republic of Ireland, this address should be displayed on all letterheads and stationery for the company together with the Incorporation Number and full name of the Directors and Secretary. Care should be taken to include the business address on stationery for the day-to-day business activities of the company.

Shelf Companies Available

Yes.

Time Scale to Incorporate

3 to 4 working days.

How we can Help You!

Should you have any question or matter you would like to discuss or clarify with us, or

Should you like to receive further Information about our services and fees,

Our multilingual team of business advisors is happy to assist you with all upcoming questions and issues in relation to your application.

You may call or email us, and we will be happy to assist you in a fast and efficient manner.

Contact us today for an initial complimentary consultation and find out how we can help you achieve your investment goals!

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