Ireland

Population:

4 million

Currency:

Euro; 1 euro worth US$1.22 (mid-2005)

Language:

English and Irish (Gaelic)

Time zone:

GMT

Centre's expertise:

English-speaking euro zone country with low tax rates

General requirements

Type of entity

Private or public, limited or unlimited; limited by guarantee

Type of law

Common Law

Shelf company available

No

Time to establish a new company

5 - 15 working days; company must have a seal with its name engraved in legible characters

Taxation

12.5% for corporation tax

Double taxation agreements

Extensive range of double taxation agreements

Forex restrictions

None

Language & name restrictions on companies

Names must be approved by Registrar of Companies, must be distinguishing so as not to conflict with existing companies and must not be offensive or suggest state sponsorship; must end in Limited or Teotranta for limited company

Share capital

Permitted currencies

Normally euros, others permitted but shares in a foreign currency cannot be converted into another except by law

Minimum paid up

1 or 2 shares must be subscribed for on incorporation but no minimum

Usual authorized capital

Normally 1,000 or 100,000 euros to avoid having to go back for further authories

Directors and personnel

Minimum number

2, one of whom must be Irish resident; both must be individuals

Local required

Residency requirement can be waived on payment of bond of 25,394.76 euros with the Company of Registry

Company secretary & qualifications

Yes

Shareholders and AGM

Minimum number

1

Disclosure requirements

Yes

Publicly accessible records

Yes

Obligations for annual meetings

Yes

Location of AGM

Anywhere

Accounts

Requirement to prepare

Yes

Audit requirements

Yes, if turnover exceeds 317,434.51 euros

Account filing obligations

Yes

Publicly accessible accounts

Yes

Other

Requirements to file annual return

Yes, and 100 euros penalty for late return plus 3 euros per day late

Change in domicile permitted

Yes

Need to registered office

Yes and must be in Ireland

Number of companies set up in last year

15,592

Total number of companies on register

157,502