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Irish Managed Limited Companies

Tax Mitigation Jurisdictions

Synopsis:

Irish Managed Companies, despite being relatively expensive to set up and maintain, are very popular with those seeking to avail of Ireland's very low corporate tax rate of 12.5% and excellent double taxation treaty network with over 30 countries. SCF Legal & Corporate Management Services Limited, the mother Company to Budget Company Formations, can provide a local company secretary, full trading account and administrative services. Since the passing of S.58 of the Finance Act 1998 and subsequent statutes; all Irish companies must be resident, have a substantive Irish presence including a local individual director or appropriate indemnity bond of around for €25,300.00 - Again however SCF Legal & Corporate Management Services Limited can provide for all local requirements including arranging for trading and administrative facilities, VAT registration and much more.

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Location

Situated to the west of the United Kingdom of Great Britain

Country Facts

Sovereign nation state located West of the United Kingdom. Declared independence from the UK in 1916 with full autonomy secured in 1922. Historically dependent on agriculture and suffered high emigration. However, over the last 20 or so years the country has developed Europe's most successful computer software sector, a very large pharmaceutical industry, a highly successful airline industry plus the more traditional brewing, agricultural and crystal industries. Per capita income is currently the 4th highest in the world ahead of the United Kingdom, France, Germany, the United States but behind countries such as Norway, Luxembourg and Switzerland. Population: 4,400,000 Size: 26,600 sq.miles

Relationship with the UK

Despite the well known historical difficulties between the UK and the Republic of Ireland they, nevertheless, are very significant trading partners with the UK being Ireland's foremost individual export market and Ireland being the 4th largest investor into the UK - Both countries have around 200-300,000 citizens residing in one anothers territory.

Taxation

Irish companies are taxed on their worldwide income at the universal rate of 12.5%. Personal tax rates however are relatively high but non-domiciled but resident individuals can avoid being taxed on non-Irish sourced income

How to Incorporate an Irish Company

The formation procedure is very similar to that in the United Kingdom and the Channel Islands. The principal governing legislation is covered by the Companies Acts' 1963-2005.

Advantages of an Irish Resident Company

  1. Ireland has one of the lowest corporate tax rates in Europe (12.5% )
  2. Highly advanced Corporate Law
  3. Similar laws and way of life to both the UK and US
  4. Limited Companies can be formed in as little as 5 working days.
  5. Excellent Double Taxation Treaty Network.
  6. Highly Respectable
  7. Excellent communications
  8. The fastestgrowing developed country in the World
  9. Companies need only one director. A director must be a real person resident in the Republic of Ireland or a non-resident having paid for a S.58 Indemnity Bond
  10. or a corporate entity. Details are on public record.
  11. There are no nationality requirements for officers and shareholders.
  12. There must be at least one shareholder. A shareholder can be a corporate entity and there are no nationality or residence requirements.
  13. A full register of members and charges must be kept at the registered office in Ireland.
  14. The name of the required company should be checked with the Registrar and the ending will be either Limited or Public Limited Company. Securing a company name is more difficult in Ireland than in the US or UK as the Companies Registration Office tries to avoid potential 'Passing Off' actions at the time of initial registration
  15. Developed and favourable corporate law.
  16. Single subscriber companies available.
  17. No capital gains tax and no exchange controls.

Corporate Requirements

Name: The name of the required company should be checked with the Registrar. The ending will be either limited` or public limited company.

Capital: The minimum issued share capital is €1.00 with most limited companies having an authorised nominal share capital of at least €1,000.00.

Registered Office: All Irish companies require a local registered office for service of process.

Registered Agent: There is no specific requirement for a registered agent

Board of Directors: There must be at least one director. A director must be an individual resident in Ireland not a corporate body. Details are on public record. There are no nationality requirements.

Company Secretary: The company secretary can be resident or non-resident; a corporate or non-corporate body

Shareholders: There must be at least one shareholder. They can be either real or corporate entities. There are no nationality or residence restrictions.

Annual Fees & Government Taxes

All companies must submit an annual return to the local authorities whether or not the company has traded. If a company has conducted no business it can submit non-trading accounts to the Revenue Commissioners. All companies must be very specific about their trading activities and will normally have to be registered for VAT which, at its highest rate, is 21% in Ireland.

Irish Managed Companies

Being just one of the key services offered by Starting My Business. We will register your Irish Managed Company legally with Company Registration Office (CRO), act as the legal and accountancy daily administrators deal on your behalf with the Company Registration Office and the Irish Revenue Commissioners, provide the registered office, maintain company minutes and everything necessary to provide you with a fully functional Irish Limited Company. Once your Irish Company has been incorporated, you will receive a Certificate of Incorporation, Memorandum and Articles of Association, Share Certificates and the Minutes of the 1st Directors meeting. It should be noted that Starting My Business has its own management centre just outside of Dublin and in particular can provide a wide range of Irish accountancy and management services from this office run and operated by qualified certified and chartered accountants. For more information on these services please go to starting my business Ireland at startingmybusiness.

Northern Irish company formation

We can complete a Northern Irish company formation electronically within 3-5 working hours. This means that your company will be registered legally in the Companies House in Belfast. Once your Northern Irish company has been incorporated, you will receive a Certificate of Incorporation, Memorandum and Articles of Association, Share Certificates and the Minutes of the 1st Directors meeting all in PDF format and hardcopy documents if applicable to your company formation package. Starting my business can also undertake all your Northern Irish accountancy needs be it through its UK (Our UK accountancy services are based in South West London) or Irish chartered and/or certified accountants.

StartingMyBusiness.Biz is a trading name of SCF Legal & Corporate Management Services Limited

A Company registered in England & Wales with a registered office address located at:
3 The Fountain Centre, Lensbury Avenue, Imperial Wharf, London, SW6 2TW.
Certificate Number 05462416 - VAT Number 859 0235 14

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All Rights Reserved - Limited Company Formation Services