Ireland

The state of Ireland is an island nation located in Western Europe. Ireland occupies about 80% of the island of the same name in the north-east Atlantic Ocean and the smaller adjacent islands.
Ireland has a temperate maritime climate. A hot North Atlantic Current passes near the west coast of the island, bringing warm and humid air masses along with southwest winds from the Atlantic Ocean.
The state's official languages are Irish and English. The official currency is the EURO.
As of 2020, the average wage in Ireland is €3,400.
Ireland's economy is diverse and inclusive. About eight per cent of all employed citizens are employed in the agricultural sector. The sphere of meat and dairy products has received more development in Ireland. Crop production has been a subsidised activity in recent years. Cereals, potatoes and sugar beet are usually grown. There is an active fishing activity in the coastal waters. Cod, haddock, herring, mussels and lobsters, as well as salmon, are exported.

The most actively developing area in the country is considered to be the high-tech industry. Ireland produces both computer hardware and components and semiconductors, and is active in the development of a wide variety of software products, including highly specialised software.
It is worth noting that foreign entrepreneurs have been investing quite heavily in Ireland in recent years. And the country itself is making some investments abroad.
Historically, Ireland's neighbour, the UK, has played an important role in terms of merchandise exports and is one of the country's main and most important trading partners. The main export and import markets for food and other products are the United Kingdom, continental Europe, the United States, and Japan.
Today, Ireland is a stable and strong state with a progressive economy that attracts many entrepreneurs.

6 simple steps to purchase a company

  1. choosing a country

  2. choosing a bank

  3. payment (by any method)

  4. sending documents

  5. company registration

  6. bank account opening

Main advantages

Out of all the possible types of advantages that open up to the founders when incorporating a company, it is definitely worth mentioning:

  1. Ireland is a member of the European Union and the European Economic Area, allowing you to register a business in Ireland and trade in services and products throughout the territory with ease.
  2. There are no currency controls.
  3. Low tax rates.

Organisational and legal forms of companies

Under current Irish law it is possible to register your company in the following legal forms:

Private Limited Company (LTD) or Public Limited Company.

The liability of the participants is limited to contributions to the share capital. Shares cannot be listed on the stock exchange. The company's office must be registered in the territory of the jurisdiction.

For "offshore purposes" an Irish partnership should be chosen.

A minimum of two individuals or 2 legal entities will be required to register an Irish Limited Partnership:

  1. General partner - has unlimited liability for all obligations of the company;
  2. Limited partner - has limited responsibility within the limits of their contribution, but cannot participate in the management of the partnership. If the partners are non-residents in Ireland and their company earns income outside the jurisdiction, the income of such an LP is not taxable.

The income received by the Irish partnership is generated in the form of the income of each founder, in this case, the organisation is not required to pay taxes. All non-resident partners are guaranteed tax-exempt status.

Features of company incorporation

Based on the analysis of the current legislation regulating the activities of business entities, with regards to the specifics of the process of registering your business, you can distinguish the following:

  1. The amount of the share capital must be at least 100 EUR.
  2. An LTD company must have at least two directors and one shareholder.
  3. Under current legislation, there is a residency requirement for the director (EU resident).
  4. Based on the requirements for the company, a secretary is not necessarily required.

Taxes and fees

The state has the following features for charging taxes and fees

The basic corporate tax rate in Ireland is 25%. It applies to organisations that provide intermediary services, for example, holding and investment companies.

Companies that manufacture and subsequently sell goods are taxed at a reduced rate. The current rate for these companies, as for other trading companies, is 12.5%.

Dividends paid to non-EU residents are subject to a zero-tax rate.

Value added tax in Ireland is payable at a rate of 23%

For capital gains tax, a tax rate of 33% applies.

Ireland has signed a large number of tax treaties, namely more than 65 double tax treaties with other states. Separate agreements also provide for the exchange of tax information with other countries.

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