Ireland


The history of Ireland goes back to 600-150 BC, when Celtic and other tribes arrived in the island. Despite its location or may be thanks to it, Ireland had never been part of the Roman Empire, therefore it was not influenced by the internal wars between Germanic tribes. However, Vikings’ invasion brought a significant damage to the cultural development of the country. English invasions began in the 12th century and set off more than seven centuries of Anglo-Irish struggle marked by fierce rebellions and harsh repressions. Due to the plague, which burst out in 1348 and carried away numerous lives, British control did not expand outside Dublin. Christian expansion began since 6th century. Ireland remained a catholic state during English reformation. A very important role in the history of Ireland was played by Oliver Cromwell who subdued almost the whole territory. In 1801 Ireland became part of the United Kingdom. In 1922, after the War of Independence, the country was divided into 2 parts – Northern Ireland which is part of the UK till now, and the Irish Free State, which became a republic in 1949. In 1973, Ireland joined the European Community.

Service packages

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Service item Express Standard Optimum
Company registration
Legal address per year
Secretarial services for the first year
Fees and duties for the first year
Apostilled bound set of incorporation documents
Compliance fee
Nominee service per year
Bank Account Pre-approval
Price

6 540 USD

6 540 USD

7 040 USD

I want to order «»

Contact method: and / or

Core Services

5 390 EUR

— Incorporation

including incorporation tax, state registry fee, including Compliance fee

including

— Annual government fees

Stamp Duty and Companies Registration Office incorporation fee

3 350 EUR

— Corporate legal services

including registered address and registered agent, NOT including Compliance fee

170 EUR

—Delivery of documents by courier mail

DHL or TNT, at cost of a Courier Service

970 EUR

— Apostilled set of Statutory documents

Optional services

Nominee Shareholder

Paid-up “nominee shareholder” set includes the following documents

Related services

970 USD

Tax Certificate

Company’s tax residence certificate for access to double tax treaties network

Certificate of Good Standing

Document issued by a state agency in some countries (Registrar of companies) to confirm a current status of a body corporate. A company with such certificate is proved to be active and operating.

Compliance fee

Compliance fee is payable in the cases of: renewal of a company, liquidation of a company, transfer out of a company, issue of a power of attorney to a new attorney, change of director / shareholder / BO (except the change to a nominee director / shareholder)

250 USD

Basic

simple company structure with only 1 physical person

50 USD

For legal entity in structure under GSL administration

additional compliance fee for legal entity in structure under GSL administration (per 1 entity)

100 USD

For legal entity in structure not under GSL administration

additional compliance fee for legal entity in structure NOT under GSL administration (per 1 entity)

350 USD

For client with high risk Status

Cost of incorporation, including first year servicing 6540
Cost of annual service, starting from the second year 4065
Open account in 26780
Incorporation timescale for a turnkey company 10 days
Country 26700

General information shortly

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Total area Population Capital Unemployment Corruption perceptions index rank
70.273 sq. km 4.921.500 (2019) Dublin 4.8% (2019) 18 (2018)
Location Northern Europe
National currency Euro
Conditional reduction of currency EUR
Against USD 0.73
Climate, average max and min t° temperate maritime; modified by North Atlantic Current; mild winters, cool summers; consistently humid; overcast about half the time; avg. maximum temperature (July) +20°; avg. minimum temperature (January) +8°
Time difference from Moscow - 4 hours
Dialing code +353
State language Irish and English
Ethnic groups white Irish 84.5%, other white 9.1%, Asian / Asian Irish 1.9%, Black / Black Irish 1.4% and other 0.7%
Literacy rate 99%
Credit rating A+
Government type Republic, parliamentary democracy
Executive branch Government headed by the Taoiseach (prime minister)
Legislative branch the Oireachtas, the bicameral national parliament, which consists of Dáil Éireann (the House of Representatives), Seanad Éireann (the Senate) and the President of Ireland
Judicial branch the Supreme Court (Cúirt Uachtarach), the High Courts (Ard-Chúirt), district courts (Chúirt Chuarda) and magistrate courts (Chúirt Dúiche)
GDP per capita rank 5 (2018)

Corporate info

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Shelf companies permitted Legal system Incorporation timescale for a turnkey company Cyrillic alphabet permitted in company name Local registered office
No common Law based on English common Law 10 days No Yes
Types of entity sole trader; limited partnership; private company limited by shares; designated activity company; company limited by guarantee not having a share capital; company limited by guarantee having a share capital; public company limited by shares; unlimited company; branch of foreign company
Incorporation timescale for a new company 7 days
Company suffix limited (ltd) or teoranta (teo)
Sensitive words "standard", "bank", "banker", "banking", "banc", "hollybank", "sweetbank", "canal bank", "bancorp", "insurance", "re-insurance", "assurance", "society", "co-op", "co-operative", "group", "holdings" or "international"
Local registered agent Yes
Information to be kept at the registered office all company books, including register of members, minutes of meetings, register of directors and secretaries, seal and records
Seal required, type of seal yes, common seal
Redomiciliation (to, from) permitted permitted

Director and secretary

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Minimum number of directors Residency requirements for directors Corporate directors permitted Disclosure to local agent Disclosure to public
1 Yes No Yes Yes
Directors’ meetings/frequency/location Yes / no restrictions / anywhere
Company secretary required Yes
Residency requirements for a secretary No
Qualified secretary required Yes
Corporate secretary permitted Yes

Shareholder and beneficiary

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Minimum number of shareholders Residency requirements for shareholders Corporate shareholder permitted Disclosure to local agent Disclosure to public
1 No Yes Yes Yes
Meetings/frequency/location Yes / annually / Ireland
Beneficiary info disclosure to No

Shares and share capital

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Minimum authorized share capital Minimum issued share capital Minimum paid share capital Authorized capital payment deadlines Bearer shares permitted
1 1 1 No requirements No
Issued capital payment deadlines Before registration
Standard currency Euro
Standard authorized share capital 100
Standard par value of shares 1
Shares with no par value permitted No

Taxes

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Min. rate for corporate tax Capital gains tax VAT Withholding tax Exchange control
12,5%/25% 33% 23% 25%/20%/20% No
Personal tax 20%/40%
Corporate tax (in detail) 12.5% for Trading Income, 25% - Non-trading income
Capital gains tax. Details Capital gains In Ireland are taxed at 33%. Gains on the sale of substantial shareholdings in companies resident in EU member states or a tax treaty country are exempt if certain conditions are satisfied.
VAT. Details The standard VAT rate is 23%. The reduced rates are 13.5% and 9%
Other taxes real property tax, capital acquisition tax, social security contribution
Stamp duty 1-7,5%

Accounts

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Requirement to file accounts Publicly accessible accounts Audit required Requirement to file Annual Return Publicly accessible Annual Return
Yes Yes Yes Yes Yes
Requirement to prepare accounts Yes
Double tax treaties network 73
Tax Exchange Information Agreement network 27
OECD member Yes
Offshore/onshore status according to the RF laws No

GENERAL INFORMATION

General info

Ireland is a sovereign state in Northern Europe, occupying the most part of island Ireland. It borders with Great Britain in the north.
Total area of the country is 70.273 sq. km. The population is 4.627.491 people (2013). Among ethnic groups are white Irish (84.5%), other white (9.1%), Asian / Asian Irish (1.9%), Black / Black Irish (1.4%) and other (0.7%).
The capital is Dublin.
The official languages are Irish and English.
The currency is euro (EUR). 1 USD is equal to 0.73 EUR.
Climate of Ireland is temperate maritime; modified by North Atlantic Current; mild winters, cool summers; consistently humid; overcast about half the time; avg. maximum temperature (July) +20°; avg. minimum temperature (January) +8°.
Time difference with Moscow is -4 hours.
Literacy rate is 99%.
Calling code is +353.

History

The history of Ireland traces back to 600-150 B.C when Celtic and other tribes arrived on the island. Despite its location or may be thanks to it, Ireland had never been a part of Roman Empire, therefore it was not influenced by the internal wars between Germanic tribes. However, Vikings’ invasion brought a significant damage to the cultural development of the country. English invasions began in the 12th century and set off more than seven centuries of Anglo-Irish struggle marked by fierce rebellions and harsh repressions. Due to the plague, which burst out in 1348 and carried away numerous lives, British control did not expand outside Dublin. Christian expansion began since 6th century. Ireland remained a catholic state during English reformation. A very important role in the history of Ireland was played by Oliver Cromwell who subdued almost the whole territory. In 1801 Ireland became a part of the United Kingdom. In 1922, after the War of Independence, the country was divided into 2 parts – Northern Ireland which is a part of the UK till now, and the Irish Free State, which became a republic in 1949. In 1973, Ireland joined the European Community.

Government type

Ireland is a parliamentary republic.
The head of state is the President of Ireland, who is directly elected by secret ballot under the alternative vote for a 7-year term. He has the right of convocation and dissolution of the lower house of Parliament under recommendation of the government. He promulgates laws, appoints judges and other high-level officials, commands the army.
Executive power is represented by the Government, headed by the Taoiseach (prime minister). The Taoiseach is appointed by the President, after being nominated by Dáil Éireann (the lower house of parliament).
Legislative power is vested in the Oireachtas, the bicameral national parliament, which consists of Dáil Éireann (the House of Representatives), Seanad Éireann (the Senate) and the President of Ireland. Members of the Dáil (160-170) are directly elected at least once in every five years under the single transferable vote form of proportional representation from multi-seat constituencies. The Senate is a largely advisory body. It consists of sixty members. 11 senators are nominated by the Taoiseach while a further 6 are elected by certain national universities. The remaining 43 are elected from special vocational panels of candidates.
Judiciary power consists of the Supreme Court (Cúirt Uachtarach), the High Courts (Ard-Chúirt), district courts (Chúirt Chuarda) and magistrate courts (Chúirt Dúiche).

Economy

The Irish economy has transformed since the 1980s from being predominantly agricultural to a modern knowledge economy focused on high technology industries and services. Ireland is heavily reliant on Foreign Direct Investment and has attracted several multinational corporations due to a highly educated workforce and a low corporation tax rate.
Ireland is ranked as the ninth most economically free economy in the world, according to the Index of Economic Freedom. In terms of GDP per capita, Ireland is one of the wealthiest countries in the OECD and EU. However, the country ranks below the OECD average in terms of GNP per capita. GDP is significantly greater than GNP due to the large number of multinational corporations based in Ireland.
In 2013, Ireland was named the "best country for business" by Forbes.

CORPORATE INFORMATION

Legal system

Ireland is a common law jurisdiction based on English common law.
The basic law of Ireland is Constitution of 1937.
Companies in Ireland are regulated by Companies Act, 1963.

Types of entity

The principal forms of business organization in Ireland are:
  • sole trader;
  • limited partnership;
  • private company limited by shares;
  • designated activity company (DAC);
  • company limited by guarantee not having a share capital;
  • company limited by guarantee having a share capital;
  • public company limited by shares;
  • unlimited company;
  • branch of foreign company.

The most common structure is the private company limited by shares .

REGISTRATION

Company name

There is a range of requirements to the company name in Ireland:
  • All company names must end with the following words or their abbreviated forms: limited (ltd) or teoranta (teo);
  • It should not be identical to or too similar to a name already appearing on the register of companies
  • It should not be offensive
  • It should not suggest state sponsorship
  • It should not contain the following words: "standard", "bank", "banker", "banking", "banc", "hollybank", "sweetbank", "canal bank", "bancorp", "insurance", "re-insurance", "assurance", "society", "co-op", "co-operative", "group", "holdings" or "international".

Registration

The following steps are required to incorporate a Limited liability company in Ireland:
Check and reserve a company name online: you may check and reserve a company name with the Companies Registration Office in electronic form. A company name can be reserved for a period up to 28 days.
File necessary materials with the Companies Registration Office (CRO): A founder may register a company at the Companies Registration Office (CRO) by three methods:
  1. The CORE registration system, in which the papers for incorporation are lodged in print and electronic form. Under this scheme, the memorandum and articles of association must be submitted in CRO preapproved format. After the documents are filed, the CORE incorporates the company within 5 working days.
  2. A “Fe Phrainn” system, in which (as detailed in the first method) the incorporation documents are submitted to the CRO in a preapproved format. Under this method, however, documents are submitted in print form only, and the CRO incorporates the company within 10 working days.
  3. An alternate system in which the incorporation documents are submitted to the CRO in print form, but the memorandum and articles of association are not in a preapproved format. In this instance, the CRO incorporates the company in 2–4 weeks.

To access the first two systems, to the company founder must apply to the CRO for an access number and have the memorandum and articles of association approved in advance. Usually only professional agencies use the expedited systems.
Necessary documents for limited companies:
  • Single document constitution.
  • List of directors, secretary, and subscribers.
  • Statement of nominal (authorized) and issued share capital and consideration paid.
  • Notice of registered office.
  • Statement of the main business activities and the address where they will be carried out, contained in a statutory notice sent to the CRO.

Forms can be downloaded from the CRO Web site. For all methods, a CRO Form A1 must be submitted with details of the company name, the first election of directors and secretary, and the subscribers to the memorandum and articles of association; the authorized and issued share capital; and the registered office and the details of the location in the state where the central administration and the main company activities are proposed to be undertaken. The memorandum and articles of association, signed by the subscriber shareholders, will also be submitted to the CRO.
As of April 2006 professional incorporators do not have to reregister the preapproved memorandum and articles of association. When using the CORE system only those pages that are company specific of the pre-approved memorandum and articles of association need be submitted with an application to incorporate a company.
A registration fee of EUR 100 is charged for each model memorandum and articles of association registered with the Office.
Get a company seal – 1 day: In addition to getting a company seal, the company must keep the statutory registers for the directors and shareholders.
Register for corporation tax, social insurance (PAYE/PRSI) and VAT with the Revenue Commissioners – 1 day: To register for corporation and VAT taxes and for social insurance (PAYE/PRSI) with the Revenue Commissioners, the company must file Form TR2. The tax identification number is needed only when the company must pay year-end taxes. Upon entering form data into the Commissioners database, the company is immediately registered for PAYE/PRSI. However, VAT registration requires an additional 5–10 working days.
The formation of a new company in Ireland takes about 10 days.

Local bank account

Applying for a local bank account depends on the activities to be carried on by Irish Company. Generally, if payments are to be made to the Company locally or if the Company is to make payments locally it might be best to have a local bank account. It will be necessary to provide the Bank with information for each of the company’s directors i.e. copy of passport/driving licence and a copy of a utility bill. It may be prudent to have a local bank account to facilitate Revenue Commissioner refunds and payments.

Local registered office

An Irish company must have a registered office in Ireland and must include its company name and registered office in all business letters, correspondence, notices, negotiable instruments and letters of credit.
The registered office of a company is that to which CRO correspondence and all formal legal notices addressed to the company will be sent. The registered office can be anywhere in the State.
It is most important that the company's registered office is kept up-to-date, so that the company will receive all correspondence. The original registered office is entered on the form A1 to incorporate the company. The registered office can be changed electronically, via the CORE website, free of charge.
All company books, including register of members, minutes of meetings, register of directors and secretaries, seal and records must be kept at the registered office.

Seal

All companies incorporated in Ireland must have a company seal. This is often referred to as the ‘common seal’ and will be a device with two opposing metal plates on which the name of the company will be engraved which, when pressed together on a sheet of paper, will leave the name of the company clearly embossed thereon. Irish law requires that every company must have its name legibly engraved on its seal. Common seal is not to be confused with a rubber stamp with the name of the company. Any contract required by law to be in writing and under seal is made by a company in writing under its common seal.

Redomiciliation

The redomiciliation of companies to or from Ireland is permitted.

COMPANY STRUCTURE

Directors

Every Irish company is required by law to have at least one Director. The first Directors are nominated by the founding Members and are identified in the Form A1. They will remain in office until the first AGM and may be re-elected.
Directors can only be individuals. At least one of the directors is required to be resident in a member State of the EEA. The requirement to have at least one resident director from a member State does not apply to any company which for the time being holds a bond, in the prescribed form, in force to the value of €25,394.76 and which provides that in the event of a failure by the company to pay the whole or part of -
  • a fine imposed on the company in respect of an offence under the Companies Acts, 1963-2013, committed by it, being an offence which is prosecutable by the Registrar of Companies and
  • a fine imposed on the company in respect of an offence under section 1078 of the Taxes Consolidation Act 1997 and
  • a penalty which it has been held liable to pay under section 1071 or 1073 of the Taxes Consolidation Act 1997,

there shall become payable under the bond a sum of money for the purpose of same being applied in discharge of the whole or part of the company's liability in respect of any such fine or penalty.
The bond must have a minimum period of validity of two years, commencing no earlier than the occurrence of the event giving rise to the requirement for the bond.

A person shall not at particular time be a director of more than 25 companies. Where a person is director of two or more companies, one of which is the holding company of the other(s), these are counted as one company.
The Board must meet at least once a year and each Director must be given at least 7 days notice of the meeting. Board meetings can be held inside or outside Ireland but to establish tax residence in Ireland, regular (at least quarterly) meetings should be held in Ireland. It is possible to hold Board Meetings by telephone/electronic communication but for tax purposes it is recommended that this is not done.

Secretary

Every Irish company is required by law to have a Company Secretary. The Company Secretary is appointed by the Board of Directors. The secretary may be one of the directors of the company. A body corporate may act as secretary to another company.
Companies have a statutory duty to ensure that the Company Secretary is a person who appears to them to have the requisite knowledge and experience to discharge the functions of a Company Secretary. The first secretary of the company must be named in the documents filed with the Companies Registration Office.

Shareholders

All Irish companies must have at least one shareholder at the time of incorporation. The maximum number of shareholders in a private limited company is ninety nine.
Corporate shareholders are allowed. There is no restriction on the nationality or residency of the shareholders.
The names of shareholders do appear on public records.
All companies must every year hold an annual general meeting. Not more than fifteen months should elapse between AGM's. General Meetings can be held inside or outside Ireland.

Beneficiary

Despite the fact that many jurisdictions are discussing an issue of introducing an open register of beneficiaries, there is no such a register yet, including Ireland. This means that beneficiaries’ details do not appear on a public profile. Generally, service providers including firm specializing in company formation, trust managers, lawyers, and accountants, keep beneficiaries’ information in strict confidentiality. It can only be disclosed to regulatory authorities (e.g. during examinations for its existence) or in compliance with a court order.

Share capital and shares

Share capital of an Irish company should be denominated in Euros. If the company is to be single member the minimum can be as small as €0.01, but more usually €1.00. If it is a multiple member company, a private company’s minimum is €0.02, but again more usually €2.00.
Usually, the standard issued share capital is €100 with a nominal value of €1.00 each.
Bearer shares and shares with no par value are not allowed.

TAXATION

Personal income tax

Tax residents domiciled in Ireland are subject to income tax on their worldwide income.
Non-domiciled tax residents are subject to income tax on income from Irish sources and foreign income remitted to Ireland.
Non-residents pay tax on income from sources in Ireland.
The tax rate is 20% for income up to EUR 35,500 and 40% on the excess.
Capital gains are taxed at the 33% rate (in some cases, different rates apply).

Corporate tax

Tax residents pay tax on their worldwide income and non-residents on Irish-sourced income.
The corporation tax rate is 12.5% for trading (active) income and 25% for passive income.
Capital gains are taxed at 33%.
Profits from the sale of shares can be exempted from tax subject to certain conditions, such as holding at least 5% of shares in active trading companies from EU member states or tax treaty countries (countries that have a double tax treaty with Ireland) for 12 months.

VAT

The standard VAT rate is 23%.
Reduced VAT rates of 13.5% and 9% apply to some goods and services.

Social security contributions

With most of the employed individuals, social security contributions (pay-related social insurance, PRSI) are 11.05% for employers and 4% for employees.
There are exempted minimums.
The Universal Social Charge (USC) is paid by employees at progressive rates from 0.5% to 11%.
There are exempted minimums.

Withholding tax

Payment of dividends is subject to 25% withholding tax.
There are exemptions. Tax may not be withheld on dividends paid to companies in EU member states or tax treaty countries (countries that have a double tax treaty with Ireland).
Withholding tax rate for interest is 20%. However, tax exemption applies in many cases, such as when companies pay interest to companies in EU member states or tax treaty countries.
Patents royalties and certain other royalties are taxed at the rate of 20%.
A 15% withholding tax is paid on gains from the sale of certain assets.
Withholding tax may also apply in some other cases.
The tax may be withheld on certain other income payments.
Tax can be reduced under double tax treaties or EU directives.

Stamp duty

Stamp duty is levied in respect of documents formalizing transactions.
It is charged on the amount of the transaction or the market value, if higher.
The rates are between 1% and 2% for residential property transactions, 7.5% for non-residential property and certain other transactions, and 1% for shares (7.5% for shares in certain non-residential property companies in Ireland).

Capital acquisitions tax (CAT)

CAT is essentially inheritance and gift tax.
The tax rate is 33%.
There are exempted thresholds, which depend on the degree of relationship between the parties.

Property taxes

Local Property Tax (LPT) is payable in respect of residential properties.
Tax rates vary from 0.18% to 0.25% depending on the value of the property, assessed according to special rules.
There are also local taxes (known as ‘rates’) that are levied by reference to a deemed rental value of commercial property.
The rates vary depending on the region.

CFC rules

A foreign company is considered a controlled foreign company in the case of a share in its capital of more than 50%, or more than 50% of voting rights, or such a share in the capital that allows controlling the formation of the board of directors, or the right to receive more than half of the distributable profits or assets upon liquidation.
A CFC's profits are subject to tax in Ireland if the CFC's profits can be reasonably attributed to significant people functions or key entrepreneurial risk-taking functions performed in Ireland.
There are various exemptions, including exemptions based on high effective tax rate, profit below a certain threshold, low margins, no intention of tax evasion, and others.

Double Tax Agreements

Ireland has entered a whole range of double tax and tax information exchange mechanisms:
  • 73 DTCs: Albania, Armenia, Australia, Austria, Bahrain, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Ethiopia, Finland, Former Yugoslav Republic of Macedonia, France, Georgia, Germany, Greece, Hong Kong (China), Hungary, Iceland, India, Israel, Italy, Japan, Kazakhstan, Korea (Republic of), Kuwait, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Moldova (Republic of), Montenegro, Morocco, Netherlands, New Zealand, Norway, Pakistan, Panama, Poland, Portugal, Qatar, Romania, Russian Federation, Saudi Arabia, Serbia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Thailand, Turkey, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan, Viet nam, Zambia.
  • 27 TIEAs: Anguilla, Antigua and Barbuda, Argentina, Bahamas, The, Belize, Bermuda, Cayman Islands, Cook Islands, Dominica, Gibraltar, Grenada, Guernsey, Isle of Man, Jersey, Liechtenstein, Marshall Islands, Montserrat, Saint Kitts and Nevis, Saint Lucia, Samoa, San Marino, Turks and Caicos Islands, Vanuatu, Virgin Islands, British.

Foreign exchange control

There is no exchange control in Ireland.

ACCOUNTS

Accounting records

Every company is required to maintain proper books of account. The company must keep books of account for at least 6 years.

Financial statements

Companies are also required to disclose details of their accounts at the Annual General Meeting (AGM) and to attach a copy of those accounts to the annual return filed with the CRO.
The Companies Acts 1963-2013 require directors of all companies to lay the following accounts and reports before the company members at the AGM:
  • a profit and loss account (or an income and expenditure account if the company is not trading for profit)
  • a balance sheet
  • a directors' report
  • an auditor's report

The annual accounts and directors' report must be signed on behalf of the directors by two directors.
The above-listed documents are required to be annexed to the annual return of a limited company on delivery to the CRO. (Small and Medium companies have certain exemptions). In addition, there must be a certificate, signed by both a director and the secretary, certifying that the accounts and reports are true copies of those laid before or to be laid before the company's AGM.
If a company fails to comply with the requirements of section 7 of the 1986 Act, the annual return will be rejected by the CRO. In addition the company and every officer of the company who is in default will be liable to a fine not exceeding EUR 2,500.
No accounts are required to be annexed to the first annual return which is delivered by a company post-incorporation. This return is required to be made up to the date which is six months after the date of the company's incorporation. Accounts are required to be attached to all subsequent annual returns filed by the company.

Audit

Irish companies are obliged to audit their accounts. However, small companies may be exempt from audit if thee meet two of the following conditions:
  • Balance sheet total not exceeding EUR 4.4 m
  • Turnover not exceeding EUR 8.8 m
  • Employees not exceeding 50

Annual Return

Generally speaking, Annual Return is a short review on the current state of the company, which is prepared by the company secretary annually. As a rule it includes the following information:
  • Incorporation information (registration date, registered address);
  • Information about directors and their resignation;
  • Information about secretaries and their resignation;
  • Information about registered capital, nominal value of shares and amount of issued shares;
  • Information about shareholders and share transfer.


Every Irish company is required to deliver an Annual Return (Form B1) to the CRO once at least in every calendar year.
The annual return of a company is required to be made up in every year to a date which is not later than its Annual Return Date (ARD). The ARD of every company can be checked free of charge on the CRO website. An annual return must be delivered to the CRO not later than 28 days after its effective date. This means that if an annual return is made up to a date earlier than the company's ARD, it should be delivered to the CRO within 28 days after that earlier date. If the 28 day filing period expires on a Saturday, Sunday or public holiday, the 28 day period is extended to the next working day. Where accounts are required to be attached to the return, the filing deadline is either the company's ARD plus 28 days or the company's financial year-end plus nine months and 28 days, wherever is the earlier.
Although not statutorily required to do so, the CRO has a policy of sending an ARD reminder to each company at its registered office in advance of the company’s ARD every year.
Where returns are not filed on time, a substantial late filing penalty must be paid and further enforcement actions may be pursued by the CRO. Returns which are filed late (i.e. more than 28 days after the effective date of the return) with the CRO incur a substantial late filing penalty of EUR 100 with effect from the expiry of the company’s filing deadline, with a daily penalty of €3 accruing thereafter, up to a maximum of €1,200 per return.
Some other enforcement options are open to the CRO in respect of non-filing of annual returns:
  • Prosecution: The CRO prosecutes companies and their directors for failure to file annual returns on time. Companies and directors may receive a conviction in respect of each year that annual returns are outstanding. On conviction in the District Court, the penalty can be up to EUR 1,900 for each offence. A director with three such convictions may be disqualified from acting as a director or having any involvement in the management of any company.
  • Court injunction: Where a notice calling upon a director to comply with a statutory provision under the Companies Acts has been served on him/her and 14 days have elapsed since the date of service, application may be made to the High Court by the Registrar of Companies or the Director of Corporate Enforcement (“the Director”) for an order directing compliance by a defaulting director with the statutory provision in question within such period as the court may specify.
  • Strike off: Any company which does not file its annual return in respect of any one year is liable to be struck off the register and dissolved.

Tax returns

The tax period is the company’s financial year, but must not exceed 12 months.
The tax return is filed within 9 months of the end of the tax period.
Large companies pay two instalments of preliminary tax and the final balance, small companies (with corporation tax of less than EUR 200,000 in the previous period) pay one instalment of preliminary tax and the final balance.

International law relations

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Party to the Hague Convention (Apostille) Legal system Double tax treaties network OECD member Offshore/onshore status according to the RF laws
Yes common Law based on English common Law 73 Yes No

Public authorities and legal acts

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List of laws and regulations
Act name Scope of law
Companies Act 2014 companies
Companies (Auditing and Accounting) 2003 auditing and accounting
Partnership Act 1889 partnership
Investment Limited Partnership Act 1994 investment limited partnership
Investment Funds, Companies and Miscellaneois Provisions invetsment funds
Taxes Consolidation Act 1997 taxation
Capital Gains Tax Act 1975 capital gains tax
Value Added Tax Act 1972 VAT
Capital Acquisitions Tax Act 1976 capital acquisitions tax
Customs Act 1956 customs duties
Tax treaties entered Albania, Armenia, Australia, Austria, Bahrain, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Ethiopia, Finland, Former Yugoslav Republic of Macedonia, France, Georgia, Germany, Greece, Hong Kong (China), Hungary, Iceland, India, Israel, Italy, Japan, Kazakhstan, Korea (Republic of), Kuwait, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Moldova (Republic of), Montenegro, Morocco, Netherlands, New Zealand, Norway, Pakistan, Panama, Poland, Portugal, Qatar, Romania, Russian Federation, Saudi Arabia, Serbia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Thailand, Turkey, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan, Viet nam, Zambia
Tax Exchange Information Agreement (TEIA) Anguilla, Antigua and Barbuda, Argentina, Bahamas, The, Belize, Bermuda, Cayman Islands, Cook Islands, Dominica, Gibraltar, Grenada, Guernsey, Isle of Man, Jersey, Liechtenstein, Marshall Islands, Montserrat, Saint Kitts and Nevis, Saint Lucia, Samoa, San Marino, Turks and Caicos Islands, Vanuatu, Virgin Islands, British
List of state regulatory authorities
Government of Ireland http://www.gov.ie
Department of Foreign Affairs and Trade https://www.dfa.ie
Department of Jobs, Enterprise and Innovation http://www.enterprise.gov.ie/en/
Department of Justice and Equality http://www.justice.ie
Office of the Attorney General http://www.attorneygeneral.ie
Irish Statute Book http://www.irishstatutebook.ie/
Office of the Revenue Commissioners https://www.revenue.ie/en/Home.aspx
Business Regulation Portal http://www.businessregulation.ie

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