For many savvy business owners, establishing a company in Ireland is a no-brainer. Not only is Ireland recognised as the 4th place in Europe and the 9th best place out of 183 countries worldwide in which to do business, but it is also home to 8 out of the top 10 global technology businesses and 15 out of 25 medical device companies.
All told, getting involved and reaping the advantage of trading as an Irish company requires a thorough understanding of the country’s legal structure with regards to conducting business. To help you in prepare for setting up a business in Ireland, here are the key takeaways from the infographic on the subject by Amorys Solicitors.
- Forming a company in Ireland requires at least one director be a resident in a European Free Trade Area (EFTA) country.
- A foreign limited company which carries business on Ireland can establish a brand without incorporating an Irish company.
- There are no restrictions on foreign individuals or corporations purchasing or leasing land in Ireland.
- Long-term commercial leases contain five yearly rent reviews and rent-free periods.
- Purchasing commercial property involves stamp duty of 6% and a possible VAT of up to 13.5% on the purchase price.
- Ireland offers a corporation tax rate of 12.5% on trading profits.
- Ireland has nine different forms of an employment permit; each will last for two years with the option to renew after 3.
- Employees employed in Ireland are entitled to a written contract.
- Data protection legislation in Ireland and the EU places strict and onerous obligations on organisations which collect and processes customer information.
Learn more about these concepts by checking out the infographic below.
Amorys Solicitors is a boutique commercial and private client law firm based in Sandyford Business District, Dublin 18. Our goal is simple: to procure success for our clients in as speedy and cost-efficient manner as possible.
The company specialise in commercial litigation, property, personal injury claims, corporate law and employment and family law. They have wide experience dealing with clients resident overseas and international or cross-border disputes due to being a founder member of LAW, an international network of full-service law firms in over 95 cities and commercial centres around the world.
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