Why Companies Choose Ireland

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Introduction

Ireland is situated to the west of Great Britain separated by the Irish Sea. The Republic of Ireland occupies 70,282 sq. km. of the island of Ireland which has a total area of 84,421 sq. km. It is located in the extreme north-west of the European continent lying between 51° and 55° north latitude and 5° and 10° west longitude.

Population

The population of the island of Ireland is approximately 6.7 million of which 4.9 million live in the Republic. Roughly one-third of the population live in the capital Dublin and its surrounding suburbs.

Political Structure

The Republic of Ireland is a parliamentary democracy with a written constitution. The President is the Head of State elected for a maximum of two terms of seven years. The Parliament is known as the Oireachtas and consists of two houses, a Lower House and the Senate. The lower house called Dail Eireann has 166 members. They are elected in multi-seat constituencies by the single transferable vote system of proportional representation. The members of Dail elect a Taoiseach (Prime Minister) who nominates 15 Government Ministers to the President, who then appoints them on his advice.

The senate is known as Seanad Eireann. This is an upper house which functions in a similar manner to the House of Lords in the United Kingdom. Its members are all elected by vocational panels such as farming groups, employer groups, trade union groups and educational and commercial groups.

The Republic of Ireland is a full and committed member of the European Union and a Eurozone Member.

Language

The English language is the official business and commercial language, although Irish (Gaelic) is spoken in many areas.

Economy

Ireland is one of the largest exporters of software globally and eight of the top ten global pharmaceutical companies operate in Ireland.

With one of the lowest corporate tax rates in Europe, state-of-the-art telecommunications and a young, well educated workforce Ireland is an attractive strategic business location for any business.

Currency

The Euro€

Incorporating your Business in Ireland

We can advise on all aspects of incorporating your business in Ireland, registration in Ireland takes 2-3 working days. As members of the Companies Registration Office electronic filing scheme, we electronically submit your proposed company’s documents and submit to the CRO. We then email to you the relevant signature pages.

Exchange Control

None

Principal Corporate Legislation

Companies Act 2014.

Tax

Ireland has a significant number of double tax agreements with other Countries, thereby ensuring that income will not be taxed twice.

Exemption for 3 years from Corporation Tax if your taxable profits are less than €320,000 and a low Corporation Tax of 12.5%.