IRELAND COMPANY FORMATION

Ireland Incorporation Guide

Corporate tax:

12.5% (Non-operating profit tax rate: 25%)


Capital gains tax (transfer tax, etc.):

33% (40% for profits outside the European Economic Area)

*Exemption clause or 10% tax rate may be applied in some cases


Dividend tax:

No local dividend tax, subject to the tax law having jurisdiction over the shareholder's residence
Dividends received from the EU or treaty countries may be taxed at a rate of 12.5%, and dividends may be exempt from tax if the company holds 5% or less of its share capital and voting rights.

Tax Credits and Incentives:

There is a 25% tax credit on eligible R&D expenses, resulting in an effective tax credit of 37.5% in total, plus a 6.27% corporate tax rate on certain profits derived from assets derived from R&D initiatives under the Knowledge Development Policy. Certain start-ups are subject to the total amount of corporate tax due each year not exceeding EUR 40,000.

You can enjoy tax relief for 3 years.

The Intellectual Property Scheme provides tax credits on capital expenditures incurred by a company on the acquisition of qualifying IP assets, such as patents and registered designs, trademarks, know-how, domain names, copyrights, and service marks, and capital deductions accruing from qualifying IP assets. can be offset against income from eligible IP assets, with up to 80% of IP derived gains deducted. The remaining 20% is 12.5% based on the taxes performed by the company.  Corporate tax is levied.


Establishment Requirements: 
1. Minimum 1 share/minimum capital of 0.01 Euro
2. At least one natural person must be listed as a director, and at least one director must be a resident of the European Economic Area
3. If the requirements of item 2 above are not met, 25,000 euros must be deposited in the company registration office.
4. At least one secretary must be registered, and the director can concurrently serve.
   However, if there is only one director, a separate person must be registered as the secretary.
5. Must have a registered address of business in Ireland

Requirements for annual maintenance:
1. Annual General Meeting (AGM) must be held annually or a written resolution must be made
2. Annual report and audit report must be made every year
3. You must file a tax return within 9 months from the date of settlement, and the amount of tax can be paid in one lump sum or in two installments

Conditions for exemption from annual auditing obligations (if two or more of the following apply):
1. Total assets in the statement of financial position are less than 6 million euros
2. Sales of less than 12 million euros
3. Less than 50 employees

Incorporation and 1 year service fee:

USD 3,100

Included:
Registration of incorporation and government fees
Preparation and submission of the company standard articles of incorporation
Provide certificate of incorporation and registered articles of incorporation
Resolution on Audit Waiver (if applicable)
Preparation of minutes of the inaugural general meeting of shareholders and directors
Filling out the register of shareholders and directors
Write a stock certificate
Appointment and registration of local manager residing in Ireland (1 year)
Registered address service 1 year
Corporate tax and VAT registration
Obtain an EORI number (if necessary)
Certified copies of corporate documents

1 year of service for local director registration in Ireland:

USD 2,500

 

Included:
Signature of company documents
Maintaining the company's basic alluvial requirements
Management of company registration documents, accounting documents and legal records
Receive contact from the bank
Annual report and tax return

Incorporation + 1 year management service fee + 1 year local director registration service total cost:

USD 5,600


Opening an Irish bank account:

USD1,200
 


Requirements and required documents for incorporation:

1. A copy of the shareholder/director's passport

2. Original fact authentication for the passport copy of the shareholder/director 
   - Korean passport: English passport copy certificate (issued by the ward office)     ( View sample )
   - Passport from other countries: Certified True Copy or Notarial Certificate      ( see sample  )
 
3. Two types of documents for the most recent (within 3 months) address in English for shareholders/directors (however, the address must be the same)
   - Residency in Korea: English certified copy (community center) + Scan the front/back of the driver’s license  ( View sample )
   - Residence in another country: Utility Bill + Bank Statement (or equivalent official document)   ( View sample )

4. Fill out the application for incorporation

*If you wish to open an account after establishment, please contact us in advance.

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