Ireland is situated to the west of Great Britain Separated by the Irish Sea. The capital and largest city is Dublin, which is located on the eastern part of the island.
Ireland’s 15% corporate tax rate on trading income is one of the lowest ‘onshore’ statutory corporate tax rates in the world. It is standard tax rate applicable to active business or ‘trading’ income. A tax rate of 25% applies to non-trading income (passive income) such as investment income, rental income, and royalty income.
The EU is the world’s biggest trader, accounting for 16.5% of the world’s imports and exports. Ireland being one of the EU member state, can enjoy free trade within the Eurozone.
Many multinational companies (e.g. Apple, Google, Facebook, Intel, Microsoft…etc,) have set up offices in Ireland. Ireland has a very extensive network of double tax agreements in force with 74 countries.
Key Features
An Ireland company is incorporated under the Companies Acts 2014.
| 1. |
Only one shareholder is required, 100% overseas shareholders are allowed. |
| 2. |
At least appoint 2 directors, and one of the directors must be European Economic Area (EEA) resident. If a company has no EEA-resident director, they may enter into a ‘Section 137 Non-Resident Director’s Bond’ which can be arranged by Company Bureau. |
| 3. |
The nominal share capital is €100,000 with the issue of 100 shares of €1 each. |
| 4. |
A company secretary is required and has the responsibility to maintain company records, file annual returns and accounts. |
| 5. |
A company needs to file an Annual Return each year. |
| 6. |
Most companies are audit exempt as they are small companies with taxable profits are below €40,000. |
| 7. |
Company name must end with “Limited” or “Ltd.”.
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