If you have decided to open a business in Ireland as a foreigner, we have covered the registration procedures in numerous articles. The next aspect you will probably be interested in is what the costs of keeping a business running here are, and how to thrive in the market. These are the topics our specialists in company formation in Ireland focus on in the next lines.
| Quick Facts | |
|---|---|
| Fastest way to start a business in Ireland as a foreigner | By registering a limited liability company. |
Time frame to register a business in Ireland | Around 2 weeks. |
Composition of the business registration costs | Business registration fees (most documents can be created online). |
| Maintenance costs | – office costs, – accounting fees, – utilities. |
| Special costs/fees to consider (if any) | Licensing fees for certain industries. |
| Bureaucracy | Ireland is known for its low levels of bureaucracy. |
| Availability of online business administration services (YES/NO) | Yes, most administrative services benefit from their own online portals. |
| Corporate tax rate | 12.5%. |
| Particularities of the workforce | The Irish workforce is highly skilled and IT literate, and is made up of Irish and foreign nationals. |
| Personal income tax | 20% to 40%, depending on the salary band and marital status of the person. |
| Social contributions to pay as an employer | 4% to 11.5% depending on the employee’s salary. |
| Best performing industries | – IT, – agriculture, – construction, – healthcare, – services. |
| Possibility to register a business remotely in Ireland (YES/NO) | Yes, our Irish company formation specialists can assist. |
| Restrictions on foreign investments (if any) | No, however, the Government oversees investments made by third-country nationals. |
| Why open a business in Ireland? | – one of the lowest corporate taxes in Europe, – access to skilled workforce, – access to EU funds, – great services sector. |
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Costs you should consider for your business in Ireland
Apart from the initial registration fees associated with setting up a company in Ireland, here are the ones to consider as you keep it running:
- the professional fees for the legal and accounting services you may need for your enterprise;
- the registered address costs, as the latest trend is for local businesses to opt for virtual offices, co-working spaces, and so on and which can start at about EUR 150 – 200 per month in towns and can exceed EUR 500 in cities;
- the use of professional services related to having a resident director and company secretary should also be considered, as they will save you time and money.
Instead of using a nominee director service, which can cost around EUR 800 per year, you can opt for the Section 137 bond, which requires a fee of EUR 1,500 – 2,000 per year for up to 2 years, and is meant to ease the access of non-Irish investors on the local market. This is a financial guarantee for local companies with directors who do not reside in the EU area.
Apart from these, there are also the utilities, marketing and promotion, and various insurances to be included on the business operating cost list.
Why should you choose Ireland to start a business?
At first sight, Ireland is similar to other European countries in terms of business registration timeframe (about 10 business days), licensing, and operating requirements. However, there are several aspects that make it unique, among which:
- the low corporate tax of 12.5%, but most importantly, the fact that while other countries adjusted it to the current economic conditions, the Irish government decided to maintain it;
- access to one of the most qualified workforces in Europe, as 56% of employees aged 25-34 are skilled and have third-level education degrees;
- Ireland also has a great education system, especially in the technical and business domains;
- the company dissolution rate is one of the lowest in Europe, with only 3,250 businesses being closed until the middle of 2025, while more than 23,000 enterprises were registered here in 2024.
Top performing sectors in Ireland
Also, if you need an idea to open a business in Ireland as a foreigner, some of the best-performing sectors in Ireland are:
- financial services;
- IT;
- manufacturing;
- food processing;
- pharmaceuticals.
While some of them are highly regulated and require specific expertise, others can be created following less strict requirements in terms of knowledge.
Access to some of the best business incentives in the EU
With low bureaucracy levels, as most interactions with the national and local authorities are online, Ireland is also one of the EU states to offer various incentives to businesses, as you can read below:
- a 25% tax credit is available if you develop research and development activities, and it covers costs related to staff, materials, operations, and even subcontracted activities;
- a reduced corporate tax rate of 6.25% on income derived from intellectual property created in Ireland;
- a maximum tax relief of EUR 40,000 for qualifying startups in the first 3 years of activity (our Irish company formation agents can offer details about it);
- an up to 40% tax relief as an employment investment incentive for small and medium-sized enterprises.
If this article convinced you to open a business in Ireland as a foreigner, do not hesitate to contact usand start the incorporation procedure.