Ireland represents one of the most attractive jurisdictions available in the European Union (EU), partly because it imposes one of the smallest corporate taxes available in the Community – applicable at the rate of 12,5%, but also because it provides a reliable legal system and a simplified company registration procedure. Investors who are interested in the procedure of company formation in Ireland should know that they can choose from numerous business forms and that they can benefit from the provisions imposed under the Companies Act 2014. Our team of Irish company formation representatives can provide more details on the ease of doing business in this country.
Starting a business in Ireland vs. UK
Persons who are interested in investing in a foreign country, such as Ireland or United Kingdom (UK), should know that the company formation procedure is much simpler in Ireland. According to the latest study provided by the World Bank, Ireland ranks as 10th world’s best economy for starting a business, compared with UK, which is situated on the 16th position.
Below, investors can find out more details on the comparative study between the ease of doing business in Ireland vs. UK:
Paying taxes in Ireland vs. UK
Another important aspect related to Irish company formation is the taxation system. As mentioned above, Ireland imposes a small corporate tax, which attracted over the years many foreign companies, especially those operating in the IT field. In UK, the corporate tax is set up as 20% of the company’s profits.
At a global level, Ireland is the world’s 5th economy for the ease of paying taxes. UK is also a top economy in this sense, but at the moment, it occupies the 10th position. Our team of Irish company formation agents can provide more details on how to register for tax purposes here.
Registering a property in Ireland vs. UK
Businessmen can opt for renting a space for an office or a factory in Ireland, but they can also purchase a property here. In Ireland, the registration of a property is a simpler procedure compared to UK, but the conditions provided by the two states are similar. In terms of registering a property, Ireland is included on the 41st position in the World Bank study, while UK is situated few ranks below, on the 47th rank.
Businessmen interested in more details related to the ease of doing business in Ireland or in UK are invited to contact our team of specialists in company formation in Ireland.