In 2013, Ireland was declared “the best country for business” on a global scale by Forbes magazine. There are over 1,000 international companies registered in Ireland and the country still continues to attract foreign investors. Due to the influx of foreign direct investments Ireland created over 14,000 new jobs. At European level, Ireland ranks first in many sectors such as the ease of paying taxes, investment incentives and simplified procedures for business registration.
In order to find out all the advantages foreign businessmen can benefit from you can ask our Irish representatives in company formation.
At corporate level, Ireland is one the countries with the lowest tax rates in Europe and worldwide. The tax levied on companies in Ireland is currently 12.5%. Ireland offers great opportunities for foreign investors that want to use the country as their network for international business activities. Ireland has an extended network of double taxation treaties that generally provides a 0% withholding tax rate. Moreover, Ireland is not considered a tax haven and does not have any banking secrecy regulations which encourage businessmen all over the world to open a business here.
If combining the domestic tax rates with the EU tax directives and the double taxation agreements, Ireland becomes one of the most appealing destinations for foreign investments in the world.
There are several types of businesses that can benefit from incentives if opening subsidiaries in Ireland. Among these Irish companies may amortize intellectual property acquired for trading purposes. Companies may also benefit from reduced tax rates for intellectual property rights.
Irish companies investing in the R&D (research and development) sector will benefit from a 25% refundable tax credit and even grants for R&D activities that meet certain requirements.
Holding companies in Ireland will benefit from tax exemptions for domestic and foreign incomes according to EU directives. Dividends issues by the Irish holding company are also exempt when repatriated. Ireland has no thin capitalization rules for foreign companies.
If you want to set up a business and need help with the registration procedure you can contact our company formation agents in Ireland.