The incorporation of the LTD is normally completed within 2-3 days of receipt of the application in Ireland. The company is then fully contractually capable.
The memorandum and articles of association are administered electronically by us. We can also submit annual returns and balance sheets. Changes will be carried out by us on request.
The minimum capital is €1. We establish companies with a standard share capital of 100 shares of €1 each. The share capital does not have to be paid in.
Ireland remains in the EU. This means that your branch or complementary LTD continues to be legally secure.
The VAT standard rate is 23%. The VAT declaration must be submitted every two months. Whoever makes less than €37,500 turnover does not have to register for VAT. The same applies to companies that do not carry out VAT-related activities, e.g. holding and general partner companies or branch offices.
Directors of the Irish LTD must be resident in the EEA, i.e. EU, Iceland, Norway or Liechtenstein. If the director is resident in another country, a special liability insurance policy must be taken out covering €25,000. This would become due if the company is in debt and the director is not found. The cost of such insurance is approximately €1,000 per year.
All shareholders are listed in the list of shareholders, which is available in the commercial register. If our trustee is used, he appears in the commercial register and not the settlor. According to the SI, the RBO (Register of Beneficial Ownership) begins to accept online submissions from 29 July 2019, after which companies and I&Ps have to submit their RBO data until 22 November 2019 without violating their legal obligation.
Similar to the UK, the remittance base taxation applies to non-domestics in Ireland. Foreigners who settle in Ireland are only taxable on their Irish income. Income earned abroad remains tax-free as long as it is not paid out to Ireland. Compared to the UK, however, the Irish regulation has the advantage that it is not limited in time.
The CRO pays strict attention to the observance of deadlines. Deadline extensions are not granted. From the very first day, considerable surcharges for delays may apply. This applies in particular to the submission of the annual return and the balance sheet.
We will forward your incoming official mail to you on a weekly basis by e-mail (or letter service), business mail at an extra charge.
We are at your disposal at any time by telephone or e-mail. We will be happy to answer any administrative questions you may have about your Irish Limited.
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