Introduction to Irish Company Formations

Ireland may be a small country (population of approximately 4.2 Million) but it has become one of the Europe’s biggest success stories. Despite the downturn, Ireland still continues to punch above it's weight with regard to attracting foreign investment due to its firm commitment to low corporatation tax (12.5%), and a liberal approach to trade. As the most Western country in Europe, Ireland is a fully independent jurisdiction, a committed European Union member and is presently the only English speaking jurisdiction in the Eurozone monetary system.

Mumtaz & Associateshead office is physically located in central Dublin, so this makes the Irish company incorporation process even easier! Our incorporation fee is only €399, and we can have your company registered in only 3-4 working days, so contact us today to discuss your company registration Ireland requirements and for an application form.

 Ireland has well-developed corporate and general law and is a common law jurisdiction. It has a very attractive Corporate Tax rate of 12.5% on Trading Profits (0% for some companies until 2013 - Please contact us for more information)

Since the 12th July 2009, Legislation has been passed which means EU/EEA-residents can now start a business in Ireland without paying the Non-Resident Directors Bond. This makes Ireland even more attractive for overseas investors and entrepreneurs considering company formation Ireland.


What are the advantages of Company Registration Ireland?

The advantages of registering a company in Ireland include:

  • Ireland has an excellent international corporate image. Excellent Holding Company Regime (see below).
  • Ireland is ranked third in Europe (seventh in the world) by the World Bank in 2010 in terms of ease of doing business.
  • Low corporate taxes with a universal rate of 12.5% on trading profits (0% until 2013 for some companies which meet certain conditions).
  • Extensive network of over 50 Double Taxation Treaties including the United States. Agency Agreements can be used also.
  • In the 2010 IMD World Competitiveness Yearbook, Ireland was ranked fourth in the world in terms of availability of skilled labour and openness to new ideas.
  • Only fully English-speaking jurisdiction in the Eurozone, committed European Union and EEA Member.
  • Europe's premier corporate domicile for multinational inward investment.
  • Excellent telecommunications infrastructure.
  • Low capitalisation costs when compared with most EU jurisdictions.
  • Ideal for international Joint Ventures where participants wish to incorporate in a neutral state.

This, together with Ireland 's positive image as an excellent corporate domicile and on-shore jurisdiction, makes company formation Ireland an attractive proposition for international tax planning purposes.


What are the advantages of an Irish Holding Company, and why is a holding company in Ireland so attractive?

Following the introduction of a number of key tax reliefs and exemptions in recent years, Ireland has become a very attractive jurisdiction for multinational companies to locate a holding company. The main features that give Ireland a competitive advantage over other countries are as follows:

  • No withholding tax on the payment of dividends by the holding company to EU or tax treaty countries.
  • No Capital Gains Tax on the disposal of shareholdings in subsidiaries.
  • No transfer pricing, thin capitalisation or CFC rules.
  • Tax deductions for interest on borrowings to acquire shareholdings in subsidiaries.
  • Favourable treatment on the receipt of dividend income.
  • Extensive Tax Treaty network and access to EU Parent-Subsidiary Directive.
  • Low tax rates for both trading operations and investment activities.

As well as all the benefits of an Irish Company listed above (See advantages of Company Registration Ireland), One of the biggest advantages that Ireland has over other jurisdictions is the ability to combine the holding company with trading activities such as Shared Service Centre activities, GroupProcurement, Treasury and Research & Development.


What types of Irish Company are available?

A Private Limited Company is the most common form of Irish company incorporation for people wishing to a start business in Ireland. The main types of company formation Ireland can be categorised as follows:

  • Private Limited Company
  • Company Limited by Guarantee (Non-Profit Company)
  • Unlimited Company
  • Public Limited Company (PLC)
  • Branch


What are the Incorporation Requirements for an Irish Limited Company?

The main incorporation requirements are as follows:

 The choice of a company name must be approved by the Registrar of Companies and must be sufficiently different from any other company name on the register (generic words like 'holdings', 'ireland', international', 'trading', etc. don't count) Euro Company Formations can incorporate for you within 3-4 working days.
• Every company must have a Registered Office address within the state (We can provide this facility) 
• All Irish companies must register for corporation tax.
• Every Irish company must have at least two directors where one should be an EEA resident or alternatively a company may dispense with this requirement by placing a bond to the value of Euro 25,394.76 with the Company Registry (2 Directors still required though) Premium for Bond is EUR1692.00 (We can arrange this on your behalf) The maximum number of directorships allowable is 25.
• Every company must have a Secretary who may also be a Director. A Corporate Secretary is permissible (We can provide a Corporate Company Secretary if you wish) 
• It is possible to have a "Single Member Company" whereby all shares are held by the one person/company. The Maximum number of shareholders for a Private Limited company is ninety-nine.
• Companies are normally capitalised with 100 issued shares of Euro 1 each.
• Newly incorporated companies should demonstrate an activity/trade within the state if they wish to register for VAT


What are the on-going requirements for Company Formation Ireland?

The Company Compliance and Corporate Governance requirements for company registration Ireland include the following:

  • All companies must hold an Annual General Meeting (AGM) within 18 months of incorporation and thereafter on an annual basis (must be an AGM in each calendar year and should take place in Ireland as managment and control should be in Ireland)
  • All companies must submit and file an annual return together with accounts to the Registrar of Companies.
  • Every company whose turnover exceeds Euro 7.4 million must prepare and file audited accounts. Holding and Subsidiary Companies must also file audited accounts.
  • Corporation Tax Return once a year and VAT Returns every two months (if applicable)
    Substance in Ireland required for VAT Registration - (i.e. A resident Director, Employee, Physical Office, trade in Ireland, etc.)


What Irish Company Formations services can you assist me with?

Mumtaz & Associatescan assist you with the following Irish company incorporation and corporate services:

  • Incorporating an Irish Corporate Entity in 2-3 Working Days.
  • Arranging Non-Resident Directors Bond (Required for Non-EEA Residents only).
  • Provision of Registered Office and/or Virtual Service.
  • Assistance with Opening of Company Bank Account and internet banking.
  • Provision of Company Secretarial & Compliance Service.
  • VAT and Corporation Tax Registration.
  • Preparation and Filing of Tax Returns.
  • Preparation and Filing of Abridged and/or Audited Company Accounts.
  • Preparation and Filing of Companies Registration Office Annual Return.
  • Abridged and/or Audited Company Accounts.
  • Provision of dedicated business phone number and fax number.
  • Provision of Nominee Irish Resident Director/s.


How can I get more information on how to start a business in Ireland?

Our dedicated company formation Ireland service makes it easy for you to start a business in Ireland, so please contact us for further details and our brochure.

Start a business in Ireland today!

Mumtaz & Associates are based in Ireland, so this makes the process even easier. We will look after the whole Irish company incorporation process for you and continue to assist you after the company is registered. This includes assistance with opening a company bank account, VAT and Corporation Tax Registration, Virtual Office and Tax & Accountancy Services.

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