Short answer? Setting up a business in Ireland can be surprisingly affordable, but it depends on what costs you’re actually including.
If you’re only thinking about registration fees and government charges, the initial setup cost can indeed be low. But that’s just the tip of the iceberg. Have you factored in:
- Legal and administrative fees?
- Required share capital based on your company type?
- Office rental or virtual address?
- Salaries and operational expenses?
In this guide, we go beyond the surface to break down every potential cost involved in starting a business in Ireland, from company registration to day-to-day operations. Whether you’re launching a limited company, a startup, or a non-profit, you’ll get a full picture of what to expect financially. You can also refer to our complete guide on setting up a business in Ireland for step-by-step instructions.
So if you’re asking “How much does it really cost to set up a business in Ireland?” you’re in the right place. This article will walk you through every stage of the process, helping you make informed decisions and avoid hidden expenses.
Initial Costs of Setting Up a Business in Ireland
While Ireland is known for being entrepreneur-friendly, it’s important to understand that initial setup costs, though relatively low, are only one part of the equation.
Registration & Administrative Fees
Before registering your company, you’ll need to reserve a business name. This step costs around €20.
Next, you’ll submit your incorporation documents to the Companies Registration Office (CRO).
Depending on the business structure, CRO filing fees typically range from €50 to €100.
➡️ Average total for basic registration: €70–€120
You can check current fees directly via the CRO official site.
Legal & Accounting Support
Company formation in Ireland requires submitting a memorandum of association, a company constitution, and other legal documentation. Unless you’re already fluent in Irish corporate and tax law, it’s highly recommended to work with specialists.
- Legal assistance: from €500 to €1,500
- Accounting setup & support: from €1,000 to €2,000 (for simple company structures)
This may seem like a significant investment, but it ensures that your business:
- Meets all legal and tax obligations
- Is registered correctly from day one
- Has fully compliant financial operations
- Is VAT-registered if applicable
- Is equipped for proper payroll and financial reporting
👉 At IrishCompany, our team offers comprehensive legal and accounting services tailored to your business type and goals, ensuring your setup is fast, compliant, and stress-free.
➡️ Estimated average for expert services: €500–€3,000
💡 Pro tip: Cutting corners here can lead to costly mistakes later. Professional guidance is often the best way to save money in the long run.
Share Capital Requirements and Tax Considerations in Ireland
One of Ireland’s biggest advantages for entrepreneurs is its flexible share capital rules—combined with one of the lowest corporate tax rates in Europe.
Is Share Capital Required to Start a Business in Ireland?
In most cases, no minimum share capital is required to register a business in Ireland. This makes the country especially attractive for startups and small businesses looking to minimise upfront financial obligations.
The following company types require little to no share capital to incorporate, typically just €1:
- Private Company Limited by Shares (LTD)
- Designated Activity Company (DAC)
- Irish Subsidiary of a foreign company
- Company Limited by Guarantee (CLG)
- Unlimited Company (UC)
- Limited Partnership (LP)
➡️ Only Public Limited Companies (PLC) are required to have a minimum share capital of €25,000, with at least 25% paid up before trading.
📌 Cost range for share capital: €0 to €25,000 depending on company type
To deposit share capital, you’ll need a business bank account opened under the company’s name, a step that can incur additional costs if handled via intermediaries or corporate service providers.
What About Taxes?
Ireland’s corporate tax rate of 12.5% remains one of the most competitive in the EU. This applies to trading income and makes Ireland a highly cost-effective base for international businesses.
Additionally, Ireland offers:
- No local taxes on capital contributions
- No minimum capital tax at incorporation
- Access to favourable double taxation treaties
These fiscal advantages can significantly reduce the overall cost of setting up and operating a business in Ireland, especially when compared to other EU jurisdictions.
Operational Costs and Funding Options When Starting a Business in Ireland
Once your company is officially registered and tax-compliant, the real work begins: operating your business sustainably. That means understanding your fixed and variable costs and exploring ways to finance your growth.
Fixed, Variable, and Running Costs in Ireland
Fixed Costs
These are ongoing monthly or annual expenses that remain stable regardless of business activity. Key examples include:
- Commercial rent
If you’re based in a major hub like Dublin or Cork, expect rent to cost between €500 and €1,000 per square metre per year. Prime locations are more expensive, but coworking spaces and shared offices offer affordable alternatives starting from as low as €200/month, and also provide great networking opportunities. - Salaries
As of January 1st, 2024, Ireland’s minimum wage is €12.70/hour. Salaries vary depending on the role, industry, and skill demand, especially in sectors like tech, finance, and health.
Variable Costs
These fluctuate based on activity and include:
- Marketing & advertising expenses
- Utility bills (electricity, internet, water)
- Office supplies and consumables
On average, variable costs represent 10–25% of a company’s turnover, especially in the first two years of operation.
Business Loans and Government Grants in Ireland
Ireland offers a wide range of financial support options for startups and growing businesses, including loans, grants, and tax incentives:
- Business bank loans
Once your business bank account is active, you can access commercial loans with interest rates ranging from 3% to 6%, depending on your credit profile and business plan. - Government grants & programs
- Enterprise Ireland provides grants up to hundreds of thousands of euros to support high-potential startups and export-oriented businesses.
- Local Enterprise Offices (LEOs) offer financial assistance to small businesses based in Ireland’s regions.
- The Trading Online Voucher Scheme helps SMEs build or upgrade their online presence.
- Startup Refunds for Entrepreneurs (SURE) offers tax refunds to entrepreneurs who reinvest in their own startups.
🔗 You can explore available programs via Enterprise Ireland and LocalEnterprise.ie.
Ireland: A Strategic Launchpad for European Growth
With its English-speaking workforce, EU membership, and business-friendly tax environment, Ireland offers an exceptional launchpad for entrepreneurs looking to grow internationally.
Whether you’re bootstrapping or scaling fast, the key to success lies in:
- Controlling operational costs
- Securing the right financial support
- And surrounding yourself with legal and financial experts who know the Irish market inside out.
