Commercial Law in Ireland
Commercial Law in IrelandUpdated on Thursday 02nd March 2023
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Irish Commercial Law has been harmonized in order to respect the legislation available in the European Union, as Ireland is a member state since 1973. As such, commercial legislation for company incorporation in Ireland respects the European standards of rights and obligations. If you are a foreign investor interested to register a company in Ireland, our Irish solicitors can provide you with relevant information.
Company formation - Legal structures under the Commercial law
The Irish Commercial Law stipulates what types of business are available in Ireland, according to the business domain and entrepreneur’s attitude toward risk. As such, the Commercial Law offers the following options:
• sole trader – the investor must register as a self-employed person and also has to apply for company’s name at the Companies Registration Office;
• partnership – two or more investors agree to develop a business together; for this type of business, you will require the specialized help of an Irish solicitor;
• limited company – it is consider as a different legal entity.
If you want to open a business in Ireland, you should receive advice from our team of Irish lawyers, as they can explain you the risks and opportunities of each type of legal structure.
Corporate taxes in Ireland
The Irish legislation imposes a corporate tax of 12,5%, being one of the most advantageous taxes in Europe for investors. The tax is applicable to revenues realized on the Irish territory from activities with goods and services. In case of other types of profits, such as rental or investment income, the Irish state applies a corporate tax of 25%, while capital gains are taxed at a rate of 33%.
If you will register a company in Ireland, you should know that from 2015, the provisions of the Irish Commercial Law have been modified, in the sense that any company incorporated here is considered to be an Irish tax resident. The rule is applicable to all foreign investors that are residents of countries with which Ireland hasn’t signed any double tax treaty.
Ireland has launched the Start-up Entrepreneur Programme, which allows a foreign investor outside the EEA (European Economic Area) to invest in Ireland, if his or her business represents an innovative service or product. You may ask for more details from our lawyers in Ireland.
If you need further information about the provisions of the Commercial Law in Ireland, our Irish solicitors can offer you consultations on this matter.
If you are interested in other matters, please reach out to our local team of solicitors. We have extensive experience in all areas of law and assist clients who deal with commercial or business matters, those in need of debt collection assistance, as well as those facing employment issues or those looking for solutions in family matters. We also assist individuals who wish to apply for divorce in Ireland.