Irish company incorporation is a great option for both international and local entrepreneurs. This is because, Ireland offers a business-friendly working environment, applies minimal bureaucracy and adheres to a favorable tax regime that charges the lowest tax rates of about 12.5% in Europe. Above all, the Irish government is highly accommodative and welcoming to foreign owned businesses. This has positioned it as the leading company incorporation location for foreign entrepreneurs looking to tap into the diverse Europe market. Apart from the low corporate taxation rates in Ireland, there are a number of double taxation treaties signed with more than 70 countries and a 25% R&D tax credit. Additionally following the exist of UK from the EU, Ireland will be the main English speaking country in EU.
How to incorporate a company in Ireland
Determine company type
The most popular company type for foreign ventures in Ireland is the Private Limited Company by Shares. It is similar to what most people refer to as a limited liability company. it is preferred by foreign investors in Ireland because it offers favorable constitution that allows the incorporated company to trade in any type of business they deem favorable so long it is legal. Moreover, the company can operate in multiple sectors; for example, it could venture into online retail business and restaurant operations among other profitable ventures. Private Limited Company in Ireland offers endless business possibilities and opportunities. Also, being a limited liability company, the members are liable for the amount of shares they hold in the business. Other company types in Ireland include; designated activity company, company limited by guarantee, public limited company, sole trader, and branch company.
Company incorporation requirements
There some main company incorporation requirements that must be met in Ireland. They include;
Having a company director: an Irish company must have at least one company director who resides within the EEA (European Economic Area). The director is required to be a resident for more than 183 days for tax purposes. Once this requirement is fulfilled, the company can appoint other directors.
Company secretary: a company secretary is required to ensure that the Irish incorporated company remain compliant to the Irish company formation and operations regulations. Note that, the company director can also act as the company secretary but this happens only when there is more than one company director.
Registered office address: all Irish companies whether foreign or locally owned must have a registered address in the Republic of Ireland. This can be a rented residential address, office space or office apartment provided the company mail can be received at that location. Note that, this cannot be a PO box.
Final step
Foreign entrepreneurs must choose an appropriate company name and file the required documentation in order to incorporate a company in Ireland. The documentation includes; company constitution, certificate of incorporation, company documentation, members’ certification and company seals. The company incorporation process in Ireland is quite straight forward and streamlined. It can take as little as 3 days to successfully incorporate a company in Ireland if you engage the right company formation specialists.
