Set your business in Ireland, Republic
An excellent European option for international trade.
Double Tax
Treaties
Lower Tax
Rate
International
distribution
Types of Entities
Which type of company should you choose?
Select the services as most suitable for your personal business needs and build your own package – start your business project now!
Why Register a company with us?
Looking to Open a Company? We make incorporating a company as easy as possible, so you can focus on the important things.
We have a full suite of startup services, like banking, bookkeeping and tax planning consultancy, which means Eurofinanzza not only helps you get started, but supports you in your continued success as your one-stop shop. Start your Company set up today!
Tell us about your
business
We’ve taken the complexity out of forming your business company. Our online form can be completed in less than 10 minutes.
We take care of the
paperwork
Based on the information you provide, we prepare all required documents and file them directly to the appropriate entity.
Receive your
documents
Once your incorporation documents have been approved by the state, you’ll receive your completed company package by email.
Some Banking Options
How to incorporate your business company in Ireland
Cross Border VAT registration with simplified administration.
Principal corporate legislation
Authorised and issued share capital
Classes of shares permitted
Where a company has a share capital, it is presumed that all shares have equal rights, but the company may in its Memorandum or Articles of Association or the Constitution create a power to issue different classes of shares, including ordinary, preference and redeemable shares.
– Ordinary Shares
– Preference Shares
– Redeemable Shares
– Bonus Shares
– Bearer Shares
Taxation
The corporate tax rate is remains at 12,5% on trading income and 25% on non-trading income for 2013.
Double taxation agreements
Ireland has signed comprehensive Double Taxation Agreements with 74 countries. 73 agreements are in effect. The agreement with Ghana is not yet in effect. The agreements cover direct taxes which in the case of Ireland are:
- Income Tax
- Universal Social Charge
- Corporation Tax
- Capital Gains Tax
New Companies Act 2014
The remainder of the Act deals with all other company types including:
Permitting the merger and division of Irish companies.
Setting out in legislation directors’ statutory and fiduciary duties.
A new requirement to register, on public record, persons authorised to bind a company.
86% of Irish companies are private limited companies. It is anticipated that the majority will convert to an LTD, the simplified new version of limited company to which a range of reforms will apply. As its name suggests, the other form of private limited company, the Designated Activity Company, is the closest equivalent to the existing private limited company and its permitted activities will be limited by its object clause.
How will it affect Limited Companies
Planning to Register a Company in Ireland? With the Companies Act 2014 into effect on the 1st of June 2015 we would like to make you aware of the main features of the act that will affect your limited company, due to the great deal of focus on private limited companies as they account for 90% of company types in Ireland.
Requirement to convert to new company type
All companies currently incorporated as a “Private Limited by Shares” company type, must choose to convert to one of these two new company types:
Private Company Limited by Shares (LTD)
Designated Activity Company (DAC)
Creation of a new Designated Activity Company (DAC) – certain companies will be required to register as a DAC, e.g. regulated financial institutions. Others will need to choose if a DAC vehicle will suit their current or desired structure. These companies will have a two-document constitution and must have two directors. A name change will be required.
Other Types of Entity – Key Features
Ireland is a very suitable jurisdiction Set up a company in Ireland whilst acting in commercial transactions.
There are a number of structures available which allow an Irish entity to be used in worldwide commercial transactions whilst minimising the exposure to Irish tax. It is relatively easy and inexpensive to form a company in Ireland and there are many advantages to having a company here, such as:
Unlimited Companies (UCs)
Limited Companies (PLCs)
Guarantee Companies (CLGs)
Provision of EEA Director
Do you want to Open a Company in Ireland? All company types must have one secretary and a minimum of one director. One of the directors is required to be resident in a member state of the European Economic Area (EEA).
For those residing outside the EEA, there are two options. Either you can purchase a bond, which insures the company against fines for any offences under the Companies Act, this bond would need to be renewed every 2 years. The other option would be for the Irish company to appoint a non-executive or “nominee” director to the board to satisfy residency requirement.
Section 137 Non-EEA Resident Director Bond
Section 137 of The Companies Act 2014 (section 43 under the old Act) states that if an Irish Company does not have at least one company director who is resident in the European Economic Area (EEA), a Bond must be taken out. It is important to note that this requirement pertains to residency and not citizenship. A company director who holds an EEA passport but resides outside of the EEA would also require a bond.
Securing a Section 137 Non-Resident Directors Bond or ‘Revenue Bond’ exempts companies registered in the Republic of Ireland from the requirement to have a Director who is resident in the EEA (European Union plus Iceland, Norway and Liechtenstein).
A Revenue Bond ensures the company for a sum of €25,000 and its purpose is to cover the following:
- Any fine imposed on the Company in respect of offences under the Companies Act 2014 e.g. failure to file Annual Returns and Audited Accounts on time.
- A fine for failure to supply certain information to the Revenue Commissioners – mainly information required on the Form CRO 11F.
- Any penalty which the company has been held liable to pay under S1071 or S1073 of the Taxes Consolidation Act 1997.
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Moreover, you have to consider these factors to Set up a company in Ireland.
- Any expenses incurred in recovering the fines and penalties mentioned above.
The Non-Resident Bond covers a period of 2 years and must be put in place at the incorporation stage or upon the removal of the EEA resident director of the company. The Bond acts like an insurance policy to cover the government for unpaid taxes or fines if the company leaves the jurisdiction.
Having the Bond in effect does not replace or act as a Company Director – It merely allows the company to operate without an EEA resident director in place. Following the 2-year period of the bond, the company is required to take action to either renew the bond for a further 2 years, put an EEA resident director in place, or create a real and continuous link in the state. This link exemption can be applied for with the Revenue Commissioners when a company displays significant employment and a strong physical presence in Ireland.
We can arrange the Section 137 Revenue Bond for your company. The total fee payable for the Non-Resident Directors bond is €1.957,50 (Including VAT) and covers a period of two years. Please note once the Bond is issued it is non-refundable.
For more information or to proceed with the Bond, please contact us and we will e-mail you a proposal form today.
Irish Company Bank Account in Ireland for a Non-Resident
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