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Benefits to register a business in Republic of Ireland

Company formation in the Republic of Ireland vs. company start-up in other EC countries

Republic of Ireland Vs Company Registration in Other EC Countries

Company formation in the Republic of Ireland vs. company start-up in other EC countries: the business registration location is one of the most important considerations involved in registering a limited company. Different territories have different legal processes and cultural expectations, meaning that a business that would be successful in one country might be difficult to get off the ground in another. On the other hand, choosing the right country to register your private company in can give the organisation a tremendous boost.

Ireland has become an increasingly popular choice for company registration over the past couple of decades, with its world-renowned business environment and low rates making it an ideal place to set up a local or international operation. In fact, the country has several business benefits even when compared to other full members of the EU. Setting up a company through an Irish company registration specialist such as Coddan Formations Agent can help to make the process even easier, allowing you to focus on getting your Irish venture running rather than dealing with incorporation paperwork.

Tax benefits: Ireland's tax rates make it extremely attractive to businesses. The Irish government sets corporation tax at just 12.5%, helping companies to keep more of their money come tax time. This figure compares extremely favourably with rates of 26% in the UK, 30.2% in Germany and 33.33% in France.

However, low corporation tax is not the only financial benefit to registering a company in Ireland. Irish companies can claim a tax credit of up to 25% on research and development spending, while the government does not charge any stamp duty on transfers of intellectual property. These regulations make Ireland particularly attractive for companies in the technology or creative industries.

Of course, as a member of the European Economic Area and a user of the Euro, Irish companies can trade products and services with other European countries without risking unfavourable exchange rates or other currency complications.

Low bureaucracy: Ireland's business friendly attitude can be an asset to newly-registered companies. The country is renowned for its low levels of bureaucracy, especially when compared to countries such as Italy or Spain. For example, Irish companies are usually fully incorporated just 1-5 days after their registration documents are submitted, a significantly shorter length of time than many other jurisdictions.

It is also easy to change company details in Ireland, as any amendments to a company's constitution or directors can be dealt with by Companies Registration Office, the Irish equivalent of Companies House. Unlike in most other EU territories, changes such as these do not need to be notarised before they can be actioned.

Workforce: Ireland's young, motivated workforce is another plus point for Irish-held companies. English is one of Ireland's native languages, allowing these companies to avoid many common employee language barriers and quickly set up international operations if necessary.

Ireland also offers many highly skilled employees, thanks to years of investment in higher education by the Irish government. The country's rapid growth as a business centre has seen many IT, software, pharmaceutical and financial companies setting up Irish operations, meaning that the Irish workforce has better levels of skill and experience than ever before.