Advantages of being a Limited Company in Ireland

Sole trader/partnership versus a limited company

  • A sole trader / partnership are an individual(s) in business whom are personally responsible for the debts and liabilities of that business
  • A limited company takes on a separate legal entity from the individual shareholders. The shareholders are only personally responsible for the debts and liabilities of the company to the extent of their unpaid share capital
  • The shareholders’ liability is limited only to the amount of share capital contributed by them
  • The personal assets of directors or shareholders cannot be seized to pay off company debts
  • Unlike a sole trader or partnership, a company has a separate legal existence. This means that it is the company itself which owns property and that it is the company which may sue or be sued in respect of the business of the company
  • The registered Business Name of a sole trader is not protected against duplication, the name of a limited liability company is protected
  • A limited company qualifies for a low corporation tax rate of 12.5%
  • The company continues to trade irrespective of director or management changes until the company is wound up and dissolved
Irish Company Order Irish Company Namecheck
Ireland Key Points
  • Only 2 to 3 days to incorporate.
  • Directors can be of any EU nationality.
  • Only 1 shareholder required.
  • 100% overseas shareholders allowed.
  • Equal treatment for domestic and foreign shareholders.
  • No obligation requiring Irish participation in the management of your company.
  • Share Capital requirement is only €100.
  • Exemption for 3 years from Corporation Tax if your taxable profits are less than €320,000.
  • Low Corporation Tax of 12.5%.
  • We are members of the Irish Companies Registration Office electronic filing scheme.
  • We provide you with full expert assistance throughout every step of the company formation process.