Ireland is one of the first European countries which established a free zone. A free zone is a special area in which certain business activities are developed by both local and foreign companies. One of the main advantages of a free zone refers to the advantageous taxation regime, the infrastructure dedicated to the specific activities carried out and other relevant aspects. Investors interested in Irish company formation in a free zone should know that the Ireland has two such locations. Our team of local consultants in Ireland can offer advice on the main advantages of a free zone.

Free zones in Ireland

Foreign businessmen interested in opening a company in Ireland in a free zone may choose from the following:

• The Shannon Free Zone;

• The International Financial Centre.

The Shannon Free Zone provides an attractive business market, as the companies registered here can develop a wide range of activities, such as:

• repairing and maintaining aircraft products;

• trading activities which help increase the value of the free zone (in this sense, the business activity must be approved by the Ministry of Finance);

• trading activities related to the manufacturing of goods;

• activities related to the intellectual property rights.

The company registration in Ireland referring to the Irish free zones requires the issuance of a license provided by the Customs Free Airport Act. The Ministry of Finance will issue a special certificate which will offer the free zone company the right to a range of tax reductions and our team of Irish company formation agents can offer advice on how to obtain this permit.

Tax reductions in the Irish free zones

The certificate issued by the local authorities will allow the free zone company to enjoy a special tax regime. As a general rule, the corporate tax rate applicable in Ireland is one of the lowest available across Europe (it is imposed at the standard rate of 12,5%). In the Irish free zones, the corporate tax will be applicable to companies at the rate of 10%.

Another important tax regulation refers to the fact that companies operating in the free zones will be exempted from paying the Value Added Tax, as well as the customs duty.

There are numerous other advantages for the Irish free zones companies, and our team of experts in company formation in Ireland can offer in-depth details. Please contact our consultants for assistance on this matter.

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