Republic of Ireland Offshore Company Formation

Ireland is the second largest island in the United Kingdom, situated in the North Atlantic. Politically, Ireland is split, with the Republic of Ireland being independent with its own company law, which has evolved from the Irish Companies Act 2014.

Ireland is perhaps not the first location that comes to mind when considering the country in which to register your offshore company, however the benefits a Republic of Ireland incorporation offer entrepreneurs around the world make it a perfect choice.

Corporations in Ireland enjoy several benefits including:

• Low tax rates – The standard company (corporation) tax rate for the Republic of Ireland is just 12.5% for trading income and 25% for non-trading income.
• These tax rates apply if your company is based in Ireland. If this is the case, your company would be liable for tax on all profits derived from business conducted within Ireland and abroad.
• If your company is not based in Ireland but has an office or branch there, it only pays tax on profits derived from activities arising through or from that office or branch in Ireland.
• In order to understand your tax liability, where applicable, you would pay tax on income derived from;
  • Carrying out business activities as described above.
  • Profit derived on investments held by the company.
  • The sale of company assets for more than they cost (chargeable gains).
• Double taxation treaty in place – The Irish taxation treaties give business owners access to double tax treaties with 72 countries worldwide, ensuring that tax is only paid in one country.
• Quick company incorporation – A new company can be incorporated within 5-7 days of submission.
• Entry into the EU market – An Irish incorporation gives you access into the EU market which will be unaffected by Brexit.
• Low capitalisation – There is no share capital requirement for Irish private limited liability companies. Private limited liability companies only carry liability for whatever is equal to the value of their ownership shares.
• Excellent choice for respectability – Ireland is a trusted and respected jurisdiction for banking and trading.
• Company structure – An Irish company formation requires only one shareholder but can have up to 149. At least one EEA resident director required, no corporate entities allowed. In the event that the company does not have at least one director who is EEA resident, then a bond of a minimum of €2,000 will be payable upon incorporation.
• Zero tax for holding companies – Ireland also does not withhold taxation for holding companies.

Requirements to Form a Company in Ireland

• Choose a name for your Irish company – Irish companies must have a unique name. It must not be similar to or replicate another Irish company that is already registered.
• Company seal – Irish companies need to have a unique company seal which displays their company name.
• Local address required – The director’s service address must be located in Ireland. This is for the process of receiving official documentation in relation to the company formation and maintenance.  The trading address may be anywhere in the world.
• Public records – Information about the directors and shareholders, including their address and date of birth are a matter of public record and can be freely accessed.
• Financial statements – Irish companies must all prepare financial statements annually. An annual general meeting is a mandatory requirement and the financial statements must be made available for this meeting. They must also be submitted to the companies registration office. These documents must include a balance sheet, profit and loss account, a director’s report and the statutory auditor’s report.
• Ready made or shelf companies – Shelf corporations are available in Ireland for faster incorporation.

Please note that information given on this page is subject to change at any time without notice as a consequence of changes made in local legislation.