GSL / Offshore and International Law / Offshore zones / Western Europe / Ireland / Legislation of Ireland

Legislation of Ireland

Service packages Legislation Tax System Audit Services

List of laws and regulations

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List of state regulatory authorities

Government of Ireland
Department of Foreign Affairs and Trade
Department of Jobs, Enterprise and Innovation
Department of Justice and Equality
Office of the Attorney General
Office of the Revenue Commissioners
Business Regulation Portal

Corporate info

Legal system
common Law based on English common Law
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
Shelf companies permitted
No
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"
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
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

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

Shareholder and beneficiary

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

Shares and share capital

Minimum authorized share capital
1
Minimum issued share capital
1
Minimum paid share capital
1
Authorized capital payment deadlines
No requirements
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
Bearer shares permitted
No

Taxes

Personal tax
20%/40%
Min. rate for corporate tax
12,5%/25%
Corporate tax (in detail)
12.5% for Trading Income, 25% - Non-trading income
Capital gains tax
33%
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
23%
VAT. Details
The standard VAT rate is 23%. The reduced rates are 13.5% and 9%
Withholding tax
25%/20%/20%
Other taxes
real property tax, capital acquisition tax, social security contribution
Exchange control
No
Government fee
Stamp duty
1-7,5%

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
Yes
Requirement to file Annual Return
Yes
Publicly accessible Annual Return
Yes
Audit required
Yes

General information shortly

Location
Northern Europe
Total area
70.273 sq. km
Population
4.921.500 (2019)
Capital
Dublin
National currency
Euro
Conditional reduction of currency
EUR
Against USD
0.93 (2022)
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
- 2 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%
History
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.
Credit rating
AA-
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)
Unemployment
4.8% (2019)
GDP per capita rank
5 (2018)
Corruption perceptions index rank
18 (2018)

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