Are you planning to register a company in Ireland? Are you aware of various company types? How much do you know about the main advantages of Irish incorporation? In this article, we will discuss how to go about registering your company in Ireland, the advantages of incorporating there as well as main company types and other important information.
There are several reasons why some of the biggest international companies have their European headquarters in Ireland. In fact, you must have read about some of the biggest companies across the globe including Apple, Amazon, Google, and Facebook having set up their European business with headquarters in Dublin. Ireland has also been regularly featured as one of the best places to do business across the globe.
One of the main advantages of setting up a business in this country is its low corporate tax rate. It doesn’t work as a tax haven but allows a lot of flexibility to structure your business in a way that is most beneficial to you. Also, you don’t have to jump through bureaucratic hoops to set up a business in this country as they make it really easy to register your company. Also, the country is actively looking for foreign direct investment which means they are actively welcoming outside investors.
This is why the process has been made extremely easy and almost everything can be done online. There are several companies that offer company formation services in Ireland. We will also discuss how you should go about choosing a partner for setting up your company in Ireland.
If you are not based in Ireland, you should know that more than 60 countries across the globe have double taxation avoidance treaties with Ireland which means you won’t need to pay taxes in Ireland along with taxes in your own country. There are several options available to you when it comes to setting up a company such as a private limited company, designated activity company, public limited company, and unlimited company, among other options.
Each company type has its own advantages and limitations. If you are unsure about the type of company that is right for your business, get in touch with the experts to learn more about the pros and cons of each of these company types and make the right choice for your business.
There is no need for you to visit Ireland personally for setting up a limited company. You can send all the documents such as the application form as well as identity documents by post and your agent would take care of everything else. While incorporating a business in Ireland is extremely easy, you need to understand that Ireland also has its own set of requirements for incorporation.
If you want to register a company in Ireland, the company needs to have at least one secretary and two directors. Also, one of the directors needs to be a resident of the European Economic Area or European Union. The registered office address should be within the country. Also, an annual return needs to be submitted to the appropriate authority. There are also some other regulations that every business registered in this country needs to follow.
As far as the time taken for setting up a company in this country is concerned, it doesn’t take long. In most cases, you can set up a company within a week once all the anti-money laundering checks have been done and all the necessary documents have been received. As far as the anti-money laundering checks are concerned, you will need to provide a certified copy of utility bills, a certified copy of your passport and some other documents. It is also possible to open up a bank account and you shouldn’t have any problem in obtaining a VAT number.
While there are several advantages of setting up a company in Ireland, you need to meet certain requirements such as the director requirement as well as having a registered office in the country and certain other things. Fortunately, there are several companies that can help you register a company in Ireland quickly.
Many such companies offer several packages with various features. These companies will help you incorporate a company, provide a registered office address in Ireland, help you file an annual return, provide company secretary services, provide anti-money laundering checks and they can also help you with setting up a bank account as well as VAT registration.
Now, there are several such companies offering company incorporation services in Ireland. It is important for you to do your research before choosing a service. The most important thing you need to look at is the experience of that company in the industry. Make sure they have been operating for quite a few years.
The next thing you need to look at is their reputation in this industry. Search for their name online to find reviews from real customers who have utilised their services. Do not rely only on the testimonials present on the website of company. Go to forums dedicated to this industry and you should be able to find reviews from real customers.
Once you have shortlisted a few companies such as companyformations.ie, it is important for you to get in touch with them through their website. It will also give you an idea of their customer service. If they promptly return your emails or calls, it means they take customer service seriously and you are likely to have a good experience. Ask them everything you want to know about the whole process, document requirements as well as the type of company that is right for your business.
Overall, there are several advantages of incorporating your business in Ireland. It allows you to do business just like any other local resident. It not only has a low corporate tax rate but is also known for low bureaucratic hurdles. In order to take complete advantage of the features on offer, you should use a reputed formation agent capable of fulfilling all the requirements of setting up a company in the right manner. Make sure they have plenty of experience and enjoy a good reputation among business owners who have set up a company in this country.
Lynn Martelli is an editor at Readability. She received her MFA in Creative Writing from Antioch University and has worked as an editor for over 10 years. Lynn has edited a wide variety of books, including fiction, non-fiction, memoirs, and more. In her free time, Lynn enjoys reading, writing, and spending time with her family and friends.