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Company Formation in Waterford

Company Formation in Waterford

Although Waterford is a small city in Ireland, it provides a set of competitive advantages for those who want to invest here. The city enjoys very good credentials offered by various financial groups and those who want to open a company in Ireland in the city of Waterford should that it represents the 3rd best micro European city of the future, as stated by the FDI Magazine, 2018-2019 edition. 

At the same time, Waterford ranks as the 4th city in Europe for matters related to the business environment. For example, it is considered the 4th destination on economic potential and it ranks on the same position on business friendliness. Our team of consultants in company registration in Ireland can provide an in-depth presentation on the business incentives available in Waterford and can also offer step-to-step assistance on starting a business here. 

What business forms can one choose in Waterford, Ireland? 

Considering that Ireland is one of the most attractive business destinations in Europe for foreign investors, the legislation concerning the incorporation of a business does not impose any major restrictions. Thus, foreign businessmen can register in Waterford, and in any other Irish city, any of the business forms that are prescribed by the national legislation. Some of the business forms that can be incorporated here are presented below: 

  • private company limited by shares – it can be registered under the regulations of the Part 2 of the Companies Act 2014;
  • public limited company – its registration requirements are prescribed by the Part 17 of the same legal act;
  • unlimited company – Ireland provides three types of unlimited companies, which are incorporated as stated under the Part 19 of the commercial legislation;
  • Societas Europaea – it has to be registered as a public limited company, but it needs to be incorporated following the provisions of the EU Regulation (Council Regulation 2157/2001);
  • investment company – it also needs to be registered as a public limited company and it may take the form of a company with variable capital or a company with fixed capital

In 2014, the Companies Act was amended with the purpose of creating new types of business forms that can be of use to the private sector. The new Act stipulates several new types of private limited companies and our consultants in company formation in Ireland can advise on the characteristics of each type of company

What is the corporate tax in Waterford? 

The corporate tax available in Waterford, Ireland, is the same with the one applicable at a national level (imposed at a standard rate of 12,5%). Thus, foreign investors can enjoy the low tax base system available for corporate entities, this being one of the lowest tax regimes applicable to commercial entities at a European level. 

The corporate tax rate of 12,5% is available for entities that are involved in commercial activities. Non-trading activities concluded here are taxed with a higher corporate tax rate, of 25%. The latter tax rate also applies to businesses which obtain profits from mining, petroleum extractions and from other related activities which aim at the exploitation of land. 

Can foreign companies register branch offices or subsidiaries in Waterford? 

Yes, foreign companies can choose to expand on the local market through branch offices or subsidiaries, two types of structures that are prescribed by the Irish commercial legislation. The difference between the two is given by the level of responsibility the parent company has for the activities developed in Waterford

The branch office does not require depositing a minimum share capital during its incorporation in Waterford and it also does not represent a separate legal entity. In the case of a subsidiary, the company needs to deposit a share capital, in accordance with the selected legal entity prescribed by the Irish law but as a general rule, foreign investors choose to open the subsidiary through a private limited company

Can one select the services of a virtual office in Waterford? 

Yes, foreign and local investors can easily request the services of a virtual office, which is the simplest way of obtaining an official business address here. At the same time, this represents one of the most cost-effective option to complete one of the steps of the procedure of Irish company formation. Businessmen can contact our team of specialists, who can present the main services and the monthly fees associated with the services of a virtual office in Waterford.