The economy in Ireland is recovering well from the 2008 crash. And as a result, Ireland is attracting significant foreign investment.
If you’re overseas and thinking of forming a company in Ireland, what do you need to know?
Getting a registered office address
You can go through the legal process of setting up a company in Ireland from anywhere in the world provided that you can supply a registered office address in Ireland.
The registered office address is the legal address for the company. Many company formation specialists can provide a temporary registered office address to allow you to get started. So this is an easy hurdle to overcome.
And a business address
But to actually start trading with the company you will need to also have a business address. The business address is the address where you actually carry out your business.
A registered office address doesn’t have to be located where the company is, but a business address must be a location where the company’s business is physically being carried out in some way.
Why is a business address so important?
Because the Irish tax authorities won’t register the company without a business address in Ireland.
This means you won’t be able to register for VAT or Corporation Tax.
I am regularly contacted by individuals who have set companies up in Ireland using an online company formation business and now want to register with Revenue. And I’m left to tell them that this will only happen if they plan to set up premises here.
So this is a cautionary note. It’s easy to form a company in Ireland, but unless you have plans to establish a business premises here you’ll find it difficult to take advantage of our low corporate taxes. Something for you to bear in mind when you’re planning.