Ireland

History of Ireland

Ireland is a European Union member state and is officially called Eire. It makes up 26 of the 32 counties of the island, with the rest (Northern Ireland) belonging to the United Kingdom. A country with a very strong Celtic culture, Ireland has a competitive tax system and is considered a tax haven.

Ireland as an Onshore Financial Centre

Called the “Celtic Tiger” because of its dynamism, the country has taken many measures to make its economic environment highly attractive to foreign investment. A company formed in Ireland is exempt from tax during the first three years of existence. Several grants are also available as loans and subsidies granted by the Industrial Development Authority. Foreign entrepreneurs can choose between the following four corporate forms:

• The private company with limited liability (PrC).
• The public limited company (PLC).
• The limited partnership.
• An Irish branch of an overseas company.

Ireland Summary

Ireland is an attractive solution because of its low tax rate of 12.5%. However, it is necessary to appoint a local director who are responsible for operating the company and keeping its accounts.