Private company formation in Republic of Ireland: if you need to incorporate a business in South of Ireland, we can assist you. Ukincorp provides companies formation help in Éire to our British and overseas located consumers. If you wish to create a local tax resident company in Saorstát Éireann, we can set up a new business entity there for you just in a few business days. We are working directly with the Companies Registration Office in Poblacht nah Éireann, and offering the wide range of business start-up offers for our customers. You do not need to hire a notary or a solicitor to establish a company there from your home. You do not need to visit the Republic of Ireland to sign any kind of paper forms; we will create a new business entity for you electronically.
Company formation in Saorstát Éireann online: our first incorporation option costs just £294.99! We can offer different packages and options for you. Off course, all of our incorporation options include the provision of the registered address in Éire, also we included the provision of a nominee secretary to all options, because the appointment of a company secretary is the mandatory requirement in Republic of Ireland. We can arrange the provision of a local nominee directors, nominee shareholder, VAT registration and certification of documents by an apostille and a local notary public. We can assist you with the preparation and filing your initial and year-end reports, we can assist with the bookkeeping and accounting assistance as well.
NO HIDDEN CHARGES
This private company formation in Republic of Ireland is for customers, who have their own registered office address in ROI, & want to keep the Irish company formation is simple and no hassle.
The following documents will be sending by post upon the formation of an Irish company:
NO HIDDEN COSTS
This Irish limited company formation with first annual return registration is for people who have a registered address in ROI & require the basic private company formation in Ireland plus company stamp send by post.
This private company formation in Éire offer includes all services mentioned in the first option, plus:
NO HIDDEN FEES
This Republic of Ireland company formation package is especially for customers, who are requiring forming an Irish holding company with business bank account and corporation tax registration.
The third private company formation in Ireland option includes all Irish company registration benefits & items mentioned in the second option, plus the following:
ANNUAL FEES FROM £250.00
This Irish company formation package is especially for expatriates & Irish residents, who are requiring forming a company with a registered office address in Dublin.
This limited company formation in Ireland offer includes all company registration benefits mentioned in the second option, with the addition of:
ANNUAL FEES FROM £280.00
This company formation in Republic of Ireland package is for clients, who are requiring forming a limited company with a prestige legal address in Dublin & secretarial compliance.
The following items are included into this company formation package:
ANNUAL FEES FROM £405.00
This Irish private company formation is especially for non-UK and non-Irish residents, who are requiring forming a company in Ireland with a business address in Dublin & a nominee secretary.
This Irish limited company formation offer includes everything in the first option, together with the advantages of:
ANNUAL FEES FROM £1,055
This is one of the most popular Irish private company formation packages with a nominee director, as an additional option to the nominee secretary.
This limited company formation in ROI offer includes everything in the second option, plus the following enhancements:
ANNUAL FEES FROM £1,055
This is our most comprehensive limited company formation package with all documents verified by solicitor or notary public & certified by the Apostilled stamp or Apostille seal affixed.
This Irish private company formation includes everything in the third option, plus:
If you're ready to form a limited company in the Republic of Ireland, Ukincorp Ltd has the expertise to help you succeed with starting business in Dublin. Types of company available to incorporate in Ireland: limited companies in Éire fall under four groups - private companies limited by shares, private companies limited by guarantee having a share capital, public companies limited by shares, and public companies limited by guarantee not having a share capital. If you are unsure of the type of company you wish to incorporate, Ukincorp's expert business start-up advisors will be happy to provide information about each one, and assist you with this decision.
Methods of companies formation in Republic of Ireland: the ordinary method of company formation in Éire is paper-based, and takes no less than 15 working days to complete. This is something you can do for yourself if you are confident of all the details and not short of time.
Ukincorp Ltd subscribes to the Companies Registration Office (CRO) Online A1 Scheme, which enables our local and international clients to utilise a far quicker method of companies formation in Ireland and guarantees a certificate of incorporation within five working days. Using this scheme gives you the added benefit of being able to access both working advice from our business formation team, and having the documentation checked by experts prior to company formation submission, thus reducing the potential delays caused by common errors.
If you need to form a limited company in Dublin, the options can be daunting. There are a wealth of choices ahead of you and you can get through as best you can or turn to the Irish companies formation experts for help, guidance and cost-effective tax planning in Republic of Ireland, that will pay off for years to come. If you're wondering how to create a company in Dublin then come to Ukincorp Ltd for the best business formation advice and company formation service in Republic of Ireland.
Limited company formation in Irish Republic: anyone who is looking to form a new limited company in Republic of Ireland can do so within a few days using one of Ukincorp's Irish company formation packages. The process can be completed online and your certificate of incorporation and memorandum and articles of association will be posted out to you. A range of Irish company formation packages are available with additional options like extra documents, leather bound documentation or a registered office address in Dublin. Please do get in touch if you would like to talk to one of our advisers about your requirements to form a company in Republic of Ireland.
We can form a limited company in Irish Republic with your own address and nominated officers, provide notarisation and apostilled documents for Irish and overseas residents. If you need an assistance with a company formation in Republic of Ireland, you can also speak to our business advisors between 9.30am-6.00pm Monday to Friday by telephoning + 44 (0) 207.935.5171.
The number of directors you need to incorporate in Ireland: a limited company of any type requires two directors (you need to have two people to be appointed as your company directors in Republic of Ireland; corporate directors do not acceptable there), at least one of them needs to live within the European Economic Area (EEA) - this area includes the EU, as well as Norway, Iceland, and Liechtenstein. There is, however, an exemption against this rule, known as the Section 43 Non-EEA Resident Directors Bond. Where neither director lives within the EEA (i.e. is non-EEA), a bond must be taken out to cover the sum of €25,394.76 risks insurance.
The surety under this bond must be one of the following: a bank, building society, credit institution, or insurance company with the legal presence in Republic of Ireland. These are stipulated in law. If you are locating outside of the European Union and do not have a director, who is the EU resident, we can help you to issue a non-resident director bond, which can costs you about £1,900, or we can provide you a nominee director, who is the resident of Republic of Ireland, or a nominee administrator, who is the UK resident, to avoid the requirements to issue the insurance bond.
Ukincorp is able to assist you with proceeding with this legal bond, for the sum of £1,900 if you do not wish to appoint one of our nominee directors. How to proceed with a company formation in Republic of Ireland when you are ready: Ukincorp Ltd is an experienced Irish company formation agent with the aim of making the process of company formation and incorporation in Republic of Ireland as easy as possible for you. Please telephone our team of experts on + 44 (0) 207.935.5171 or + 44 (0) 330.808.0089 (national rates) for further assistance with a company formation in Republic of Ireland.
Dublin is one of the largest financial centres in the world, and the Republic of Ireland rewards foreign investors by providing lowest corporate tax rates in the world and other company formation advantages that can be very lucrative.
In addition to tax benefits, Irish law itself is an attractive and useful authority, as it is based in Common Law, unlike many other countries where the legal system is based in Civil Law. Amongst other things, Common Law has particular implications on the principle freedom of contract, essentially enabling the parties to a contract to write their own terms and conditions, rather than them already being prescribed by law.
A minimum of two directors are required to form a company in Republic of Ireland, corporate directors are not allowed. A director can be of any nationality. One of the company directors must be resident in Ireland, UK or in EU, in the absence of a resident director; a secure bond must be lodged. A resident director person is one who is present in the Republic for an aggregate period of 183 days or more each year or the previous year. Call us to discuss your needs and see how we can help.
Once you've decided what your Irish business is going to do, as in the services and products you'll offer, you need to decide upon a business name registration and make sure there isn't a similar firm already registered with ROI Companies Registrar that could affect your business name registration choice. It's better to do this before you've invested time, money and your emotional involvement into a brand identity that then has to go in the bin.
With a business name fixed and registered, you have to decide on the business structure. This isn't as simple as it may seem and there may be a structure you are simply not aware of that fits your business needs and provides advantages you may not know about. For instance, most people start out as a sole trader or incorporate a limited company, and both can be highly effective ways to structure your business.
A limited company formation in Republic of Ireland is a tried-and-trusted method that protects your personal assets in case the business fails, can provide dividend payouts to reduce your tax payments and more.
But the business world evolves constantly and now many companies big and small are taking advantage of limited companies formation in Dublin, and other ways to form a business that protects their assets, their identity and their capital. You can even incorporate a company in Dublin, which might be the best way to streamline your tax affairs from the start.
Ukincorp Ltd can offer a world of opportunities that you may think are beyond the scope of a small business starting out. We can form a limited company in Dublin, provide nominated directors for your company, registered office addresses in Dublin, and more to keep your home and business life separate. We can even provide a full-set up for business formation in Dublin for overseas clients that wish to remain anonymous, down to business bank accounts and a registered place to store your accounts.
Once the business structure is in place there are other factors to consider. Do you want to run the business from your home address in Republic of Ireland, or would it be an advantage to have a prestigious address in the centre of Dublin or other city from which to run your limited company in Republic of Ireland?
An annual return must be filed with the Registrar of Companies, together with the appropriate fee. In compliance with the provisions of the Companies Act, the Registrar of Companies may strike off a company for failing to file an annual return in respect of any one-year off the index. The first annual return date in the case of a newly registered private limited company will be six months from the date of formation. Call us to discuss your needs and see how we can help.
The Republic of Ireland has a number of benefits to offer any business thinking of setting up in the country. Aside from the fantastic location, there are a whole range of other benefits such as the availability of a young, qualified workforce, quick formation and low share capital requirements. In order to form a private company in the Republic of Ireland, a number of things need to be taken into consideration. We outline these requirements below.
If it's your first time forming a limited company in Republic of Ireland and indeed you are new to the business world, we offer a range of support services that can help get up off the ground and keep you going. Instead of spending valuable time on opening bank account, registering with Inland Revenue, filing your first annual accounts and annual returns in Republic of Ireland, bookkeeping, taxes and accountancy, we can handle all of that for you so that you can concentrate on growing your new business.
Forming a private company in Republic of Ireland: the Companies Registration Office in Ireland, requires that businesses submit the following in order to incorporate as a private company:
Should a company wish to do so, they can also reserve their desired business name online by using CORE (Companies Online Registration Environment) and paying a fee of €25.00.
About the Form A1: this Irish company formation form has different sections which applies to different types of companies. Private companies which are limited by shares will have a maximum of 99 shareholders and these members are liable to the amount of any unpaid shares in holding should the company cease.
When completing Form A1, key details about the Irish company formation will be covered including the business name, where it is registered, details of key staff including directors, secretaries and chief executives as well as details of shares and shareholders. Those completing the form will also have to provide details about the nature of the business and the activities that it will engage in.
Assistance with forming a private company in Republic of Ireland: Ukincorp is the specialist company formation in Republic of Ireland who are able to provide inclusive packages which cover the task of formation of your company in the Republic of Ireland and ensuring that forms are completed correctly, leaving you to concentrate on your business.
Ukincorp will ensure that your Irish company formation is processed quickly, that shares are handled accordingly and take care of any fees related to the application inclusively in your price. You will also be provided with copies of your certificate, memorandum of association and articles of association documents and extras such as a copy of minutes of your first meeting of your directors as well as copies of certificates for your shareholders.
The Republic of Ireland offers some impressive benefits to companies and corporations that are registered in the country. Lower capital outlay - in many EU countries, the minimum share capital is €3,000 or more, however, if you would like to register an Irish company, in Éire, the minimum required capital is merely €1.00.
Easier to do business from Republic of Ireland: in many reports that look at how easy it is to do business, Ireland continually ranks highly, which means that the country is less bureaucratic as a whole, that business is more accessible, and that decision-makers are easier to reach. These things make a big difference in the world of business.
Costs are lower: the usual overheads of property, staffing, and services are lower in Ireland than in many other countries. This means that costs overall are considerably lower, and businesses can put that money into other things.
Quality of life: the quality of life of people who live in the Republic of Ireland is considerably better than in other EU countries. This fact helps business thrive, and makes for happy workers; always a good thing.
Tax incentives: there has been a lot of publicity around corporation and other taxes in the Republic of Ireland recently; although the media has not taken a positive view on this, it does mean that companies incorporated and trading out of Éirehave a distinct advantage. Tax incentives include the 12.5% corporation tax, 0% corporation tax for SMEs, capital gains exemptions in certain circumstances, and other benefits around intellectual property and research and development. As far as tax is concerned, Republic of Ireland is a very good place to do business.
English is the first language: it may seem like an unimportant detail, but the Republic of Ireland is the only country in the Eurozone that uses English as the first language for business. The advantage of using Ireland's resources of young, well-educated, English-speaking workers cannot be underestimated.
How Ukincorp can help with company formation in the Republic of Ireland: Ukincorp Ltd is a highly experienced Irish company formation agent with the resources to assist you with fast business formation in Dublin and IE company formation. If you are interested with obtaining the benefits of running a company in Éire, please call our team now on + 44 (0) 207.935.5171 or + 44 (0) 330.808.0089 (national rates) for an informal chat.
We understand the business, and know most common requirements from our customers, and because we have been in companies formation business in Republic of Ireland for over than twenty years, and we are serving customers worldwide! We have used that Irish companies formation experience to hone our processes to provide an unrivalled quality of Irish companies formation service at the keenest price we can bring to the companies formation market.
While the process of private companies formation in Republic of Ireland, is designed to encourage business; that does not imply an informal or lax approach to procedures. There are practical issues to consider that could otherwise slow down the application and your freedom to trade under the protection of limited liability and lower corporate tax rates. Thinking of forming a limited company in Republic of Ireland? All about forming limited companies in Ireland is here; we can help you to choose the best legal structure for starting a new business in the Republic.
Ukincorp Ltd - let us do what we are good at so that you can do what you are good at. You do the business we will do the paperwork to help you to form an Irish private company. Too many business formation have their energy sapped trying to find their way around the many regulations and procedures necessary to setting up a limited company in Ireland and start-off on the right foot with the tax people.
The Republic of Ireland has received quite a bit of media publicity recently about the level of corporation tax it expects companies to pay. Although it has not been viewed in a particularly positive light by the media, there are obvious advantages to the tax arrangements within the country, particularly if you are a business owner.
The Irish tax system is sophisticated for those, who are looking to register a company in Republic of Ireland, and it has served to promote what is known as a knowledge economy; one where growth is based on the accessibility, the quality, and the quantity of information available, rather than merely on the means of production.
Company formation in Republic of Ireland it also provides one of the most competitive tax regimes in the world for holding companies formation there, and also for those that actively trade worldwide. It is particularly businesses in the services sectors, financial sectors, pharmaceutical industries and technology development world that continue to benefit under the Irish corporate tax system. This is because some of the tax breaks available specifically target businesses in these sectors.
What are the benefits of the Irish tax system? The main tax advantages for incorporating a company in the Republic of Ireland are varied. The low corporation tax that upset the British media recently is the standard corporation tax at 12.5%. This is a key component of the Irish tax strategy, and is set to continue. The development and acquisition of intellectual property attracts significant tax relief, making it lucrative for Irish businesses to improve their intellectual, trademarking and design holdings.
Research and development is also a winner in Éire, attracting tax credits for companies that spend on R&D. This is the type of action that fosters the knowledge economy. Where a subsidiary company is in the process of being wound up, the Irish government allows an exemption for the profits obtained from the share disposal thereof. EU and other treaty countries allow Irish companies to be exempt from withholding taxes.
These are not the only advantages available for companies incorporated in Republic of Ireland. If you believe that your new company formation could benefit from being formed in the Republic of Ireland, please call our expert IE companies formation team on + 44 (0) 207.935.5171 or + 44 (0) 330.808.0089 (national rates) for further discussion.
The team has all the expertise necessary to incorporate your limited company in the Republic, while ensuring you receive a service that will benefit of your clients and your business in the longer term. With Ukincorp, it is simple to register a limited company in Republic of Ireland.
If you need formation of your private company in Dublin, Ukincorp can help by providing a business service address in Republic of Ireland's capital. Irish limited companies are suitable for a wide variety of businesses but are particularly suited to property investment funds, building firms, private equity management businesses, holding companies, worldwide trading companies and professional service companies.
If you wish to set up a company in the Republic of Ireland and not use your or other people's names as officers, Ukincorp has nominee director service, nominee secretary and nominee shareholder that can facilitate you. In the Republic of Ireland, there are various types of company that can be established.
One is a private limited company, of which there are four kinds: a private company that is limited by shares; another one is a company limited by guarantee and not issuing share capital; next one is a company limited by guarantee that does have share capital; and the last one is a public limited company (PLC).
To form these type of companies in Republic of Ireland, personnel must be proposed as directors and corporate secretaries, and it's also the case with structures such as single member companies, which is required to have two directors at least and one company secretary. At Ukincorp, we can work with the Companies Registration Office in Dublin to ensure your new enterprise is properly set up, and with our nominee officers. Our fees for the provision of nominee directors are highly competitive, and the turnaround time is quick, meaning you get your company professionally start-up in no time and at the lowest of fees.
Companies require nominee services for different reasons. It may be that a firm in the UK is expanding into the Republic of Ireland, and they don't want their officers' names officially listed on the public records, as this might give away valuable information to their competitors. Using nominee directors services to establish an IE company also provides a level of anonymity and protection for those who would rather not have their name publicly known.
The nominees provided by Ukincorp will have no direct involvement in the running of your business, as they are there in name only, for official business formation. For those who use this service, we will remind them when annual renewal time is approaching, and if they wish to continue using our nominees director, nominee secretary and/or a nominee shareholder in their private company.
If you would like to know more about the benefits of establishing a company with nominee directors in the Republic of Ireland with Ukincorp, talk to our expert business formation consultants today and they will tell you everything you need to know.
Important information for people who do not wish to appoint a nominee director from us: the requirement to have at least one director resident of the Republic of Ireland, or EU country, does not apply to any company which for the time being holds an insurance bond, in the prescribed form, in force to the value of €25,394.76, and which provides that in the event of a failure by the company to pay the whole or part of: -
A fine imposed on the company in respect of an offence under the Companies Acts, 1963-1999, committed by it, being an offence which is prosecutable by the Registrar of Companies, a fine imposed on the company in respect of an offence under section 1078 of the Taxes Consolidation Act, 1997 and a penalty which it has been held liable to pay under section 1071 or 1073 of the Taxes Consolidation Act, 1997.
Irish private company must have a company secretary (Companies Act 1963 section 275 (1)) who will perform a variety of tasks crucial to the smooth running of the company, which includes ensuring that the company's statutory obligations are complied with.
We provide a nominee company secretarial service to ensure that important statutory requirements are fulfilled, leaving the day to day running of the company to the directors. We ensure that all the company's statutory requirements are met, including the filing of the accounts and annual returns (subject to the receipt of all requisite documents). Other secretarial services include: -
When you register and form a company in the Republic of Ireland to do business there, you are going to want to have a bank account in the country to handle your transactions. At Ukincorp, as part of our companies formation service in Republic of Ireland, we can help you to open a business account with one of the leading banks in the Republic of Ireland, such as Bank of Ireland. This includes making an application directly to the relevant bank on behalf of your company.
However, depending on what type of company you are forming, it may be necessary for one director to attend a branch of the bank for a meeting and to confirm their and the company's identity. We will set up a meeting with the bank for the relevant company personnel, at a conveniently located branch in Dublin.
Before opening a new business account, a bank will need a number of official documents, including the certificate of incorporation and memorandum and articles of association. We can prepare these and others for you and submit them as part of the application. In circumstances where company personnel are not known to the bank, additional information is required, such as an official letter, from a solicitor or local bankers, confirming their identity.
A due diligence form must be filled out when opening a new business account; this is part of European Union directives concerning banks and new business customers, and we can assist. We will liaise with the Companies Registration Office in Dublin to make sure your new enterprise is properly and professionally established, and provide you with all of the official documentation for your files, before proceeding with the opening of a business bank account in Republic of Ireland, or outside of the Republic.
Irish tax law stipulates that there are certain thresholds or criteria that must be met by a company before it is obliged to register for VAT. Where €75,000 turnover is exceeded or likely to be exceeded by a company's sales of goods, that business should then register for VAT. If the company delivers services, or goods that have been manufactured from zero-rated materials, the threshold is €37,500.
Those companies that supply both goods and services, but where the supply of goods constitutes 90% or more of the turnover, should become VAT registered at the point when its turnover exceeds €75,000. Where a company receives intra-community supplies for business purposes, the tax threshold for VAT registration is €41,000.
Foreign traders distance selling goods to ordinary customers in the Republic of Ireland must become VAT registered in ROI if they exceed €35,000 in sales. Anyone supplying goods and services to Ireland, if they are not established in the country has to be VAT registered, whatever the level of their turnover. Anyone receiving services from abroad - for business purposes - must register, whatever their turnover.
Additionally, any non-EU business that supplies electronic goods to private customers in Ireland must register for VAT, whatever their turnover. You can also choose to be registered for VAT, even if your turnover does not exceed any of the stated levels.
How Ukincorp can assist you with a company formation and VAT registration in Republic of Ireland: Ukincorp Ltd belongs to the Company's Registration Office (CRO) A1 online scheme, so if you wish to register your private company through our services, we can guarantee you will have the certificate of incorporation within 5 working days of submission.
For anyone who has never submitted a statutory return on behalf of an Irish company the requirements can seem mystifying. To make matters worse if returns are not submitted, or are not submitted on time, your company could be liable for significant fines. Ukincorp Ltd can help take the stress out of meeting regulatory requirements with its accounting and bookkeeping services in Republic of Ireland.
For a reasonable and cost effective annual fee we can help by giving you notice of when to prepare and submit your company's annual accounts. Going further than this we can help by preparing and submitting your accounts on your behalf. VAT is one of the most complex taxes for companies to administer. Owing to the complexity of the tax, it is very easy for companies to either underpay or overpay. Ukincorp can help ensure that your company is registered for VAT and can help you to meet the requirements imposed by the tax for an annual fee. We will ensure that you don't end up paying more tax than you need to.
Services relating to VAT include storing copies of invoices and archiving them so that if the government chooses to inspect your business for compliance with VAT legislation the inspection will take place at Ukincorp's premises rather than your own. This is potentially a very attractive service for people who work from home. We can also prepare and submit VAT returns on your behalf.
Another service offered by Ukincorp is a cost effective payroll system that won't impose unreasonable costs on your business even if you have only a single employee. If you would rather keep payroll in house then we can assist by advising on what you should do to meet legislative requirements without incurring unreasonable costs.
If you have official documents that were issued by a country other than the Republic of Ireland that you'd like to use in Ireland, then you will need to have them apostilled or legalised by consulate. Similarly, if you have documents that were issued by the Republic that you'd like to use abroad these will also need to be apostilled or legalised by a foreign embassy.
Ukincorp offers apostille certification services starting from £70.00 that will certificate your Irish documents for use in any foreign country that is a signatory to the 1961 Hague Convention. If you wish to use your documents in a country that has not signed up to the Hague Convention then you will need to have them certified by a notary public and then have them legalised by the authorities of the country in question. This latter stage can generally be undertaken by the target country's consulate or embassy.
The apostille stamp verification system is designed to be simpler than legalisation. The apostille certificate is standardised across all of the countries that have signed the Hague Convention, allowing the relevant authorities to quickly determine whether or not your documents are of good legal standing. Ukincorp pride ourselves on obtaining apostille certificates swiftly and at reasonable cost.
Documents that may need to be certificated include personal items like birth certificates, certificates of adoption and degree certificates. The likes of your company's memorandum and articles of association, as well as other documents that are necessary for the company to do business, may need to be certificated as well.
If you recently started a business in Ireland or are a sole trader who has incorporated an existing business, why not take a look at Ukincorp's range of post-formation services? We can help you save time and money, enabling you to focus on running a healthy, profitable company rather than running errands and spending hours on corporate tasks.
Perhaps you are looking for a telephone answering service to help give the impression your business is much larger than it really is (this can be especially useful if you are a start-up). Ukincorp can offer a call answering service to add prestige to your company and save on the cost of a receptionist. We offer 0870, 0330, or local telephone numbers across the Republic of Ireland and virtual office services. Ukincorp can perform the day to day administration of your limited company, saving you additional time and money.
Ukincorp can also provide registered addresses across the Republic of Ireland on special request. If you need an address in Dublin or Meath, for example, Ukincorp may be able to help. If you are looking for a post office box, they can also offer this. They can also assist with bank introductions if you need a business bank account. Bank of Ireland and Allied Irish Bank are two of the major banks offering a range of business banking services, for example.
If your company needs corporate services such as a private nominee director or nominee shareholder, Ukincorp offers these services. They can provide a nominee company secretary - this is essential according to the 1963 Companies Act and will ensure all legal obligations are followed, including filing all accounts and annual returns.
Ukincorp can provide additional secretarial services, including preparing minutes of meetings, dissolving companies, VAT applications, patent, and trademark registrations and employment contracts. Notary and apostille services are also available.
Ukincorp Ltd have been in business for more than 20 years and have helped form companies for clients across the UK and abroad. Our aim is to provide the best possible service and the most competitive price, in addition to giving their clients the most flexible ways of accessing their services.
Benefits of a company formation in the Republic of Ireland vs company registration in the UK: Ireland may not be seen as the business capital of the world and it has been hit hard by the recent recession. However, there are some key benefits on offer if you do decide to form a company in Ireland, which are probably less well known than the benefits of forming a company in the UK.
The benefits of forming a company in Ireland mainly centre on tax advantages. Irish companies pay lower rates of corporation tax than English companies, by forming a company in Ireland you are able to take advantage of this very attractive tax rate. The Irish Government has frozen the tax rates on Irish companies at just 12.5% because you are investing in the country. In the UK companies are currently taxed on profits at a rate of 20% - 23%.
If you register your company in Ireland and the products and services you provide qualify, you could be exempt from paying tax for three years. It is always best to check if your products and services qualify before basing any company formation decisions on this information. However, it is a great incentive for companies offering products in a number of areas such as medical, carpentry and electronic equipment to bring their businesses to Ireland.
If you form a company in Ireland, you could benefit from a tax exemption on any international income. This is provided that the company doesn't make any money from Irish customers. Company formation in Ireland is the perfect set up for a holding company. In fact, many international companies, including companies from the UK, are choosing to operate all or part of their business from Ireland because of the huge financial advantages.
Whether you register the company in the UK or Ireland you will benefit from double taxation treaties designed to help you avoid double taxation where the same income is taxed in two countries. Both Ireland and England have well established agreements with a number of countries across the globe. Double taxation treaties include corporation tax, capital gains tax and income tax.
When forming a limited company in the UK or Ireland, you protect the interests of shareholders and directors. In both countries, forming a limited company means that the company is seen as a separate entity; shareholders and directors are not liable for the company's debts or obligations unless their personal conduct when running the company is called into question.
Forming a limited company in both the UK and Ireland means higher levels of credibility. You are more likely to be able to attract investment as a limited company, either through shareholders or business investment schemes.
The benefits of forming a company in the Republic of Ireland vs registering a company in Liechtenstein: forming a private company can often be a complex task, especially when trying to find the way forward which results in the most cost effective outcome for one's business.
Depending on the unique set of goal's possessed by an individual business, it may for example, be more favourable to register a company within the Republic of Ireland; and by that same token, based on its individual needs, another business may benefit more by incorporating a company in Liechtenstein.
In some cases it may not be clear which country or state provides the more business-friendly environment, and in such cases it is important to analyse the pros and cons of each of the options available in order to calculate which will be best aligned with the interests of the business owner.
The native language of the region: when deciding on which region to formulate one's company, the native language spoken is often a key determinant. In Ireland, English is effectively the number one language used and therefore any business transactions will be done in this language. Such a detail cannot be overlooked as possible complications which may arise in the future can be difficult to resolve if there exists a language barrier.
The official language of the Principality of Liechtenstein is German, and a dialect of German is spoken widely. English is also widely spoken, and is used in many commercial transactions, however, the potential for misunderstandings or complications to occur may still exist.
The corporate tax rates: the government of Ireland was able to obtain the approval of the EU for a 12.5% tax rate on corporate income in January of 2003. This tax rate is available for companies whose profits are below 63,486.90 Euros, and for companies whose total trading income is less than 317,434.51. The corporate tax in Liechtenstein also stands at 12.5%. However, in Liechtenstein there is no cap on earnings in order to qualify for this low rate of tax.
Added to this, there is no surtax in Liechtenstein, meaning that companies in this region cannot be double taxed - another added advantage. Ireland on the other hand has the advantage of a potential three year tax exempt period available for certain trades, for example carpentry, electronics and medicine.
Rules and restrictions for forming companies: although corporate directors are prohibited, to form a company in Liechtenstein only one director and one shareholder are required. In the Republic of Ireland, however, a minimum of two company directors who are over the age of 18 are needed, and in addition, one of these directors must be a permanent resident of EU in order to form a company. However, in Ireland company formation is subject to VAT at a rate of 23%, and every company that has sales which exceed 55,000 Euros, must apply for VAT.
Meanwhile in Liechtenstein, company formation can be equally as restrictive, as to form an Anstalt company, between 30,000 and 50,000 Swiss Francs are required in capital. The costs to set-up a private company in Liechtenstein, including the provision of a registered office address, a nominee secretary (which does not include the provision of a nominee director, and nominee shareholder, costs for opening a bank account, share capital investments, etc.,) is about from £7,000 to £20,000 (including the provision of a nominee director, and further services). Plus, as the business owner, you should always check the price for the company maintenance per year.
The business formation location is one of the most important considerations involved in forming a limited company. Different territories have different legal processes and cultural expectations, meaning that a business that would be successful in one country might be difficult to get off the ground in another. On the other hand, choosing the right country to form your company in can give the organisation a tremendous boost.
Ireland has become an increasingly popular choice for company formation over the past couple of decades, with its world-renowned business environment and low rates making it an ideal place to set up a local or international operation. In fact, the country has several business benefits even when compared to other full members of the EU. Setting up a company through an Irish company formation specialist such as Ukincorp can help to make the process even easier, allowing you to focus on getting your Irish venture running rather than dealing with incorporation paperwork.
Tax benefits: Ireland's tax rates make it extremely attractive to businesses. The Irish government sets corporation tax at just 12.5%, helping companies to keep more of their money come tax time. This figure compares extremely favourably with rates of 26% in the UK, 30.2% in Germany and 33.33% in France.
However, low corporation tax is not the only financial benefit to forming a company in Ireland. Irish companies can claim a tax credit of up to 25% on research and development spending, while the government does not charge any stamp duty on transfers of intellectual property. These regulations make Ireland particularly attractive for companies in the technology or creative industries.
Of course, as a member of the European Economic Area and a user of the Euro, Irish companies can trade products and services with other European countries without risking unfavourable exchange rates or other currency complications.
Low bureaucracy: Ireland's business friendly attitude can be an asset to newly-formed companies. The country is renowned for its low levels of bureaucracy, especially when compared to countries such as Italy or Spain. For example, Irish companies are usually fully incorporated just 1-5 days after their incorporation documents are submitted, a significantly shorter length of time than many other jurisdictions.
It is also easy to change company details in Ireland, as any amendments to a company's constitution or directors can be dealt with by Companies Registration Office, the Irish equivalent of Companies House. Unlike in most other EU territories, changes such as these do not need to be notarised before they can be actioned.
Workforce: Ireland's young, motivated workforce is another plus point for Irish-held companies. English is one of Ireland's native languages, allowing these companies to avoid many common employee language barriers and quickly set up international operations if necessary.