Company Formations in Ireland - Interesting facts and general conditions
Ireland is an island in the Irish Sea near the UK and the Isle of Man. We do not need to discuss the weather (up to 225 rainy days a year). Still, the islands boast a growing expat community, thanks to excellent business development and a more than competitive tax framework.
Furthermore, if living in a hot spot is not required, one can enjoy a reasonable cost of living and low housing costs. Hence, numerous international companies are already doing business in and from Ireland. Increasingly, firms and entrepreneurs are becoming aware of the benefits of company formations in Ireland and establishing subsidiaries and branches on the island.
After years of turmoil, the banking sector has fully recovered, and newly formed companies will likely obtain bank accounts through the Internet or local banks.
Our experienced and highly qualified international tax and legal advisors will review your company structure and existing management or mandate contracts. We also offer a review of your contractual arrangements at home and abroad. Additionally, our tax and accounting department will be pleased to handle your bookkeeping and tax returns.
Why not work with us – we offer company formations in Ireland at a fixed price of € 490.00 net, all-inclusive. Enjoy our fast, reliable, and competent approach in your native language (German, English, French, Italian, Spanish, Czech, and Slovak).
Ideal Tax Framework for Businesses and Holding Companies
Before Ireland joined the European Union, it abolished the former “offshore” regulations. Thus, Irish legislation fulfills all relevant EU standards, EU regulations, OECD standards, the FATF standards, and the FSF standards.
Irish companies are recognized throughout the European Union as EU companies with an extensive Network of Tax Treaties. This circumstance is used mainly by holding companies. Ireland nowadays has one of the most favorable Tax Regimes. It competes within the EU with Cyprus, Malta, the Netherlands, and Luxembourg, offering a split of costs of Luxembourg, or a non-EU jurisdiction like the UK.
Why not speak to us about the advantages of a holding structure and company formations in Ireland?
What you need to consider
A long-term stay in a country for more than 183 days will usually (and automatically lead to an unlimited tax liability for your worldwide income. Some countries go even further and already assign this tax liability if you can permanently use your apartment (this can even be the room in your parents’ house or a regularly visited hotel), which you can access with your keys – known as “Schlüsselgewalt” in German-speaking countries. This rule establishes or maintains an unlimited Tax liability for your worldwide income. If this subject interests you, you can learn more about it on our dedicated Taxation website.
The often-cited and generally used “183-Days Rule” is not entirely correct. It can only be used to a limited extent, as few countries (Germany) consider a personal tax liability if one spends more than 183 days within the country in two consecutive years spanning two tax periods.
Setting up a company in Ireland is a straightforward process. The real challenge lies in establishing an unassailable tax residence for both the company and its founder. A relocation may sound simple, but it is by no means as easy as moving to a new country. German-speaking countries in particular are familiar with the taxation of hidden reserves and exit taxation.
Once you have overcome these problem areas, the next hurdle awaits you: opening a bank account. You cannot imagine how many founders in Ireland, Malta and Cyprus are stuck with a useless company without a bank account. Please disregard rumors; instead, contact us directly. We will tell you straight up whether it can work for you or not. That’s a promise.
If you have plans for company formations in Ireland, be sure to speak with us first to avoid costly mistakes. We can help you determine if a relocation is a good fit. Our Tax Experts and corporate finance experts at TAXEDO LLP will find a sophisticated solution.
TOP Jurisdiction for EU Residence
Ireland, however, offers ideal conditions for a tax residence. To obtain tax residence, one must stay in Ireland for more than 183 days. With close links to other European countries, excellent flight connections, and travel times of approximately two hours to the center of Europe, this is an ideal location for conducting business of any kind.
Of course, you cannot stay in any other country for more than 183 days, which would trigger an unlimited tax liability there. This concept is, therefore, ideal for everyone who can live and work flexibly (e.g., digital nomads).
You can rely on well-founded and legally sound advice if you come to us. Together, we will find your ideal life concept.
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