Benefits of Starting Business in Ireland
In 2024, Ireland’s gross domestic product (GDP) reached an all-time high of $577.39 billion, according to Trading Economics. The country ranked 11th in Forbes’ “Best Countries for Business” ranking.
Ireland is often called a tax haven – and for good reason. The local tax system is extremely loyal to companies. The corporate income tax rate is one of the lowest in the EU, and a transparent legal framework and fast registration procedures significantly facilitate market entry.
Business Structures in Ireland Explained
LTD – Private Company Limited by Shares
A private limited liability company (LTD) is a popular legal form due to its limited liability. This means that shareholders are only liable up to the value of their contributions, which protects their personal assets from the claims of the company's creditors.
However, an LTD also has disadvantages. It may face additional obligations, such as mandatory financial auditing if certain turnover thresholds are exceeded or if reports are submitted late.
Essential Requirements for
Company Formation in Ireland
To establish a company in Ireland, you must meet a number of basic requirements set by law. Foreigners who are residents of the EU, EEA or Switzerland are eligible to act as directors of the company in Ireland without any restrictions. If none of the directors is a resident of the EEA, the company must enter into a special financial guarantee (bond) in the amount of €25,000 – as a mechanism for ensuring liability in the event of debts. In addition, legal entities are required to follow standard administrative procedures: submit annual tax returns and update the company's registration details by submitting an annual return.
Step-by-Step Guide to Registering
Business in Ireland
Once the legal form of the company has been chosen, the process of forming a company begins, which involves a number of important steps.
Choose a company name and check its availability.
Determine the registered office address of the company in Ireland.
Appoint a company secretary.
Obtain a certificate of incorporation from the CRO.
Determine the registered office address of the company in Ireland.
Appoint at least one director and one shareholder.
Prepare a company constitution indicating the authorised and issued share capital, signed by all shareholders.
Register the company with the Revenue Commissioners for income tax, VAT, etc. requirements.
Open a corporate bank account.Register UBO’s.
Ireland company registration
Name of the service
Start
Lite
Business🔥
Pro
Company formation
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2-hour consultation on your registered company’s operations
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Registered office address in Ireland
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File form for each beneficial owner with Irish registry (1 shareholder included, per each additional Euro 200 is charged).
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Obtaining PPSN number or Verification of Identity VIF
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Filing of the first annual return (B1)
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Non-resident director bond application
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Nominee secretary EEA services (per first year)
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Corporate Account Opening
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Company seal
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Shareholders’ or Investment Agreement
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Total cost
345 EUR
265€
920 EUR
705€
4810 EUR
3699€
7500 EUR
5750€
Assistance with investment attraction
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*The offer is valid until 2026-03-31
Using an Employer of Record
Instead of Incorporating
For many companies looking to start a business in Ireland or hire employees in the country, an alternative to setting up a legal entity is to work with an Employer of Record (EOR) service provider.
An EOR is an external organisation that formally registers employees on behalf of the company, allowing them to operate in a new country without the need to set up their own branch or legal structure. This model allows them to comply with all the tax, labour and immigration requirements of the employee’s host country, including Ireland.
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5.0
"Their adept use of technology for communication and project management streamlined the entire process."
Thanks to Icon.Partners' efforts, the client was able to integrate with major platforms, such as Google, Facebook, and Stripe, and optimize their platform. The team was highly supportive and responsive from a workflow standpoint, and internal stakeholders were particularly impressed with the service provider's flexibility, professionalism, and technical prowess.
Oleksandr Platonov
CEO, VorfahrQR UG
Germany📍
Apr 10, 2024
Reviews