Many foreign investors are attracted by the low taxation system Ireland has and by the low and specialized workforce. Considering the modifications brought to the Company Act in 2014 which simplify the company incorporation procedure, Ireland has become even more attractive. Foreign businessmen can now set up more types of companies then before:
Irish limited liability companies are divided into:
Our experts in company registration in Ireland will inform you about the characteristics of each type of company.
In order to register a company in Ireland, the following steps must be taken:
The new Irish Company Act contains a draft model for the Articles of Association which simplifies significantly the registration procedure. Another requirement of the Company Act is that at least one of the directors is an Irish resident. Private limited companies are not required to deposit a minimum share capital, only Irish public companies being requested to have a minimum share capital of 25,000 euros.
Once the company registration procedure is concluded, there are several steps to follow in order for the business to become fully operational. If the Irish company will hire personnel it must register with the PAYE (Pay As You Earn) and PRSI (Pay Related Social Insurance) systems in order to have the taxes imposed for employees calculated and deducted. Companies exceeding certain annual revenue thresholds are required to register for VAT in Ireland. The thresholds depend on whether the company supplies goods or services.
For personalized company incorporation services you can contact our specialists in Ireland.