History of Ireland
Ireland is a European Union member state and is officially called Eire. It makes up 26 of the 32 counties of the island, with the rest (Northern Ireland) belonging to the United Kingdom. A country with a very strong Celtic culture, Ireland has a competitive tax system and is considered a tax haven.
Ireland as an Onshore Financial Centre
Called the “Celtic Tiger” because of its dynamism, the country has taken many measures to make its economic environment highly attractive to foreign investment. A company formed in Ireland is exempt from tax during the first three years of existence. Several grants are also available as loans and subsidies granted by the Industrial Development Authority. Foreign entrepreneurs can choose between the following four corporate forms:
- The private company with limited liability (PrC).
- The public limited company (PLC).
- The limited partnership.
- An Irish branch of an overseas company.
Ireland is an attractive solution because of its low tax rate of 12.5%. However, it is necessary to appoint a local director who are responsible for operating the company and keeping its accounts.
Types of Company in Ireland
Forming a company in Ireland takes around two weeks.
|Legal Entity||Capital||Number of Shareholders, Partners or Members.|
|Private Company||One share per shareholder||Minimum of one shareholder and a maximum of 99 shareholders, limited liability.|
|Public company||EUR 38,092|
|Minimum of seven shareholders, limited liability.|