Company structure in Ireland
Legal basis - Common Law
Legal framework - Companies Act 2014
Company form – Company at limited liability (Ltd)
Responsibility - The liability of shareholders is limited to the amount of their shares.
Share capital - Equity is divided into shares of a fixed amount. There is no minimum capital requirement but it must issue at least one share when it is incorporated. This share can have a nominal amount as low as € 0.01.
Shareholders - Companies in Ireland may be incorporated by one or more natural or legal persons, residents or non-residents. Shareholder details are made public.
Administrators - A company must have at least one director, who must be an individual. At least one of the administrators must be resident in the European Economic Area (EEA). If a company does not have an EEA resident director, a bond of EUR 25,000 must be placed with the company office. Details of the directors are made public.
Secretary - Irish companies must appoint a secretary, who may be one of the directors. If the company has only one director, it appoints a separate person as secretary.
Registered address - A company must have a registered office in Ireland.
General assembly - Each year, each company must hold a general meeting as an annual general meeting, or adopt a written resolution of shareholders instead.
Electronic signature - authorized.
Re-domiciliation - Incoming / outgoing redomiciliation is generally authorized.
Conformity - Each company is required at least once per calendar year to submit an annual report with audited financial statements.
Businesses are also required to submit an income tax return due on the 21st day of the 9th month following the end of the accounting period and are also required to pay the preliminary tax in one or two installments.
Please note that small businesses may be exempt from having their annual financial statements audited for any fiscal year if, for that fiscal year and the fiscal year immediately preceding that fiscal year, the company meets two of the following three conditions: Balance sheet total not exceeding 6 million euros; Turnover not exceeding 12 million euros; Employees not exceeding 50.
Key figures of companies in Ireland
|Official name||Republic of Ireland|
|Proper noun||Éire (ga); Ireland|
|Population||4,857,198 inhabitants (2018)|
|Population growth||1.35 % / year|
|Density||69.21 inhabitants / km²|
|GDP||375.903 billion $USD (2018)|
|GDP / capita||77,450 $USD (2018)|
|GDP growth||6.70 % / year (2018)|
|Life expectancy||82.10 years (2018)|
|Birth-rate||‰ 14.20 (2015)|
|Fertility rate||1.90 children / woman (2015)|
|Mortality rate||6.50 ‰ (2015)|
|Child mortality rate||3.10 ‰ (2015)|
|Literacy rate||100,00 % (2018)|
|Official languages||Irish, English|
|Change||Euro (€ EUR)|
|HDI||0,942 / 1 (2018)|
|Nature of State||Republic|
|Head of state||President Michael D. Higgins|
|National Holiday||None until Ireland reunites|
|Codes ISO||IE, IRL|
|Tourists||10,100,000 people (2016)|
TheIreland is a country in Western Europe located in the North Atlantic Ocean, west of the United Kingdom, and a member of the European Union since 1973. It is a republic that spans 26 of the 32 historic counties of the island of Ireland which it shares with Northern Ireland (the six remaining counties), which has remained a constituent part of the United Kingdom.
The country has experienced very strong economic growth for three decades. This has been accompanied, recently and for the first time since the country's independence in 1922 (date of international recognition), by population growth. A sort of spectacular turnaround: from 2000 to 2006, Irish population growth was of the order of +2 % per year on average!
Since then, this growth has sharply reduced, to only +0.76 % between 2011 and 2016, the last two censuses. Immigration has been severely slowed as many newcomers can no longer find work. Net migration is now again in deficit since 2010.
The country has launched headlong into an overhaul of its economy, it is equipped with infrastructure, and has quickly caught up with European standards. Its per capita wealth is one of the highest in the world now, and it attracts many high-tech companies in high-tech fields. It also attracts brains from all over the world, as its needs for skilled labor are substantial.
However, the recent global economic crisis has hit Ireland hard since 2008, and unemployment has exploded again.
GDP, which had contracted sharply from 2008 to 2010, grew in 2011, stagnated in 2012 and 2013 (+0.2 %), and started up sharply in 2014 (+4.8 %) and especially in 2015 (+26.3 %). Such a level, almost unreal, is explained in particular by numerous relocations of global headquarters for tax reasons - Ireland taxes companies at only 12.5 % - and therefore the transfer of the capital of these companies to the country, which is automatically found in the country's balance sheet and boosts its GDP.
The economic crisis is therefore now a thing of the past.
Corporate Taxation in Ireland
Corporate tax rate (IS)
|Global CIT rate (%)||Trading company: 12.5
Non-commercial enterprise: 25
Corporate tax (IS) due dates
|CIT return deadline||Within nine months of the end of the fiscal accounting period.|
|CIT final payment due date||Within nine months of the end of the fiscal accounting period.|
|Estimated due dates for CIT payments||Small businesses: the first installment is due 31 days before the end of the fiscal accounting period *, and the last installment is due when filing the tax return;
Large companies: the first payment is due six months from the start of the fiscal accounting period *, the second payment is due 31 days before the end of the fiscal accounting period *, and the last payment is due when filing the return CIT for the period.
* No later than the 23 of the month.
Personal income tax rate (PPI)
|Global PIT rate (%)||40|
Personal income tax (PIT) due dates
|PIT return due date||October 31 (mid-November if filed electronically) after the end of the year.|
|IRP final payment due date||October 31 following the end of the year.|
|Estimated PIT Payment Due Dates||October 31 of this year.|
Value added tax (VAT) rate
|Standard VAT rate (%)||23|
Withholding tax rate (WHT)
|WHT rate (%) (Div / Int / Roy)||Resident: 25/20/20;
Capital gains tax rate (CGT)
|Corporate capital gains tax rate (%)||33|
|Tax rate for individual capital gains (%)||33|
Wealth / Equity Tax Rate
|Global wealth / equity tax rate (%)||N / A|
Rate of inheritance and gift tax
|Rate of inheritance tax (%)||33|
|Gift tax rate (%)||33|