Overview
Not everyone knows that Ireland was the first of all EU members to seize the 2008 crisis due to peculiarities of its offshore zone. Even this fact may be the main evidence of popularity and demand of the Irish offshore zone and the proof of many attractive advantages to develop your business. You may get surprised to find out that you are welcome to register a company for a single day where the income tax in the country is 10%. Moreover, the law secures privacy of registered business owners, and Ireland itself is not blacklisted.
The only downside is that Ireland is not the classic offshore zone. It means to disregard the idea of zero tax rate. Meanwhile, the servicing of newly created company will not be expensive; the legislation provides a variety of cases, when the income tax can be easily reduced to 10%. This is the lowest rate within the territory of all Europe.
Benefits of registering the company
The main advantages of registering the company in Ireland are the following:
Advantageous tax rates;
You will not face double taxation;
Maintenance does not require a larger financial cost;
Simplicity of registration supported by professionals surprises;
Stable economy and clear future for investors;
No control of currency transactions.
Specificity of the registering
Ireland has a wonderful economic climate, as well as good conditions to attract investments; these result in the increasing number of IT companies on the territory of the country.
Companies are created as LLC or OJSC, as well as special branches of foreign companies. In any case, it is necessary to consider a wage for the secretary who should be a resident of the country and make possible the registration of a legal address in the territory of the island.
The main difficulty is the choice of a corporate manager among local Irish people who can be trusted. This challenge should also be entrusted to professionals.
They will help to rent real estate for the office and provide conditions for easy business management remotely.
The authorized stock capital can be 100 Euro, and the registered company should hire at least 3 persons – 1 shareholder and 2 directors. Why? The point is that one of directors should be a resident of the European Union. The income tax is 10%. Moreover, the newly created company may emit securities without the right to alienate (it comes to registered shares).
Legal system
LLC requires special attention. VAT declaration should be submitted one every three months to authorized bodies, and the final report – once a year. Your first report should be prepared 6 months after the creation, and all the others – once a year. It should be noted that all foreign legal entities with annual turnover over 75 000 Euro are formal taxpayers.
Taxation
In Ireland, the tax rate is 25%. It applies to those who offer mediation services as holdings, as well as investment companies. Those who engage in production field and sell goods are given the the opportunity to pay twice as less-12.5%. However, the specialists are ready to do everything possible to ensure that the rate does not reach over 10%.
The client may choose a legal entity in the list of registered companies or order creation of a completely new one. The experts will proceed to work even after receiving 30% prepayment for their services. The whole amount can be paid after receiving the documents on hand. A package of documents will be delivered by mail.