Last updated: Jan 31, 2024
Ireland is an attractive location for businesses aiming to establish a European presence or expand their global operations. Boasting a competitive corporation tax rate of 12.5% and a business friendly environment, Ireland consistently ranks high up the list when deciding where to register a company in the EU. However, businesses should also consider regulations, local taxes, costs, and other factors outlined below before setting up a company in Ireland from abroad.
If you want to know more about these implications, then you can book a 30 minute Video Consultation with an Incorpro Accountant via the button below for only €99 + VAT.
From 11th of June 2023, the Companies Registration Office (CRO) requires that all Company Directors filing incorporation documents provide their PPS Numbers. If they do not have an Irish PPS Number, then they must apply for a Verified Identity Number.
This involves completing a Form VIF, a Declaration as to Verification of Identity, which includes the name, date of birth, nationality, and address of the person. The Company Director must solemnly declare this information to be correct and true, and have this Declaration verified, witnessed and signed by a Notary Public.
Choosing to Register Your Company through Incorpro simplifies this process. We will submit the form to the CRO on behalf of the Director, and obtain the VIF Number required for the registration process. However, there are certain implications which you may want to consider before incorporating in Ireland. This is why it is required, as per our company policy, to book a 30 minute Video Consultation with one of our Accountants, before proceeding with company registration.
Irish registered companies are regarded as Tax Resident in Ireland unless they are deemed Tax Resident in another jurisdiction under a Double Taxation Treaty. An Irish company that is centrally managed and controlled from another Treaty Jurisdiction will be regarded as Tax Resident in that jurisdiction and subject to taxes there.
For more information, please visit Revenue’s Company Residence Guidance, which offers in-depth insights into Ireland's corporate Tax Residence policies.
When registering for VAT in Ireland, the Tax Authorities allow for Domestic VAT Registration and Intra-EU VAT Registration. For the Intra-EU VAT Registration to be successful, the Revenue Commissioners will request Evidence of Trade within the State. The company must demonstrate that it has tangible business in the State with someone physically located in Ireland making business decisions.
Incorpro offers Tax and VAT Registration services for a competitive price. For more information regarding two-tier VAT Registration visit our Irish VAT and Intra-EU VAT Registration Guidance article, which holds a wealth of information.
Salary payments to Proprietary Directors (Directors controlling > 15% of Share Capital), must be taxed at source in Ireland under Irish Tax Rules. In general, PAYE Exclusion Orders will not be issued by the Revenue Commissioners in respect of non-resident directors of an Irish company. It may be possible for non-Irish residents to request a refund of Irish Tax after the year end by filing an Irish Income Tax Return.
For a more thorough understanding of the Tax Implications and processes for Proprietary Directors' payments, please visit Revenue’s Payments to Employees Guidance.
Incorpro assists clients with their ongoing accounting and payroll processing. Please visit our Ongoing Accounting Packages page for more information.
Dividend Withholding Tax (DWT) at 25% operates on distributions from an Irish company. However, Non-Residents who meet specific criteria can be exempt from this tax, so long as they provide the necessary documentation. For a detailed understanding and more information, please visit the Revenue’s Dividend Withholding Tax Guidance.
Beneficial Owners of Irish companies with an interest of 25% or greater must register with the Register of Beneficial Owners (RBO). In cases where Beneficial Owners do not have an Irish PPS Number, they must obtain a Verified Identity Number. This process entails completing a Form VIF, a Declaration as to Verification of Identity. The Company Director must solemnly declare this information to be correct and true, and have this Declaration verified, witnessed and signed by a Notary Public, as indicated earlier in this article.
For more information on the Beneficial Owners and the process, please visit our comprehensive Register of Beneficial Ownership Guidance article.
Irish companies are required to have at least one EEA Resident Director. As the UK left the EU on 1 Jan 2021, UK residents are no longer considered part of the EEA. Companies without an EEA Resident Director have two main options, as detailed in the CRO's Company Officers Guidance:
If the company cannot appoint an EEA Resident Director then it will be required to obtain a bond. The bond is renewable every two years until the company appoints an EEA Resident Director, or is granted a certificate from the CRO confirming the company has a real and continuous link with one or more economic activities that are carried on in Ireland.
Incorpro is here to assist you in securing the bond and if you wish to purchase one, please visit our Contact Page for ways to get in touch. We will obtain the bond on the company's behalf at a cost of €1,950.
At Incorpro, we offer our standard Company Registration Package for only €99 + VAT. This package includes essential registrations like Corporation Tax, Payroll Tax, Domestic VAT, and the Register of Beneficial Ownership (RBO), ensuring a seamless start for your business in Ireland.
Recognizing the complexities involved in registering a company with Non-Irish Residents and the increased workload it brings, Incorpro has the following additional costs:
In addition to our standard services for Non-Irish Residents, Incorpro offers a range of optional extras to further support your business needs:
Embarking on the journey of setting up an Irish company as a Non-Resident involves navigating specific requirements and considerations. To gain a comprehensive understanding of these processes and to ascertain whether this is the right path for your business, Incorpro offers a 30-minute Video Consultation with a Chartered Accountant.
This consultation is required for those ready to register, but can also be an invaluable opportunity for anyone seeking to simply learn about the requirements and benefits of Non-Resident company registration in Ireland. Schedule your consultation at a time that best suits your needs and take the first step towards informed company establishment in Ireland.
Should you have any queries or require assistance with your Accounting and Tax needs, our dedicated team at Incorpro is here to help. Connect with us by calling 01-4429409, or visit our Contact Page for more ways to get in touch. Stay updated and engaged by following our Social Media Pages on Twitter, Facebook, LinkedIn and Instagram.
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