- PPF Points
- 2,039
Setting up an offshore company in Ireland may be a valid decision if you are willing to take advantage of the country's business friendliness, low corporate tax, and the European market access. The whole thing is quite easy, but the first step is essential for the correct start. According to that, the initial thing you are required to do are to choose a unique company name and select the company structure—you will most probably need a Private Company Limited by Shares (LTD). Then, the next thing is to appoint at least one director and one shareholder; however, at least one director should be a resident of the European Economic Area, although the rule can be circumvented by acquiring a Section 137 bond if it's necessary. A registered office address in Ireland is also a must, and it can be obtained through either a formation agent or corporate service provider. After that, the next step is to draft and submit the necessary incorporation papers at the Companies Registration Office (CRO), where your constitution and Form A1 among other documents should be included. Upon the finalization of the process, a company number and a Certificate of Incorporation will be presented to you. After that, your next steps will require opening an Irish bank account and registering with the Revenue for taxes, especially in the case of trading in Ireland or the EU. Even though the process is not as complicated as it might initially seem, it is highly advisable to work with a local expert or agency who can help not only to avoid any potential pitfalls but also to ensure compliance with the local laws. By setting up your own structure and making it in the right way, opening a company in Ireland can be a key to your international expansion and money-saving.
