Set Up a Real Estate Business in Ireland
Set Up a Real Estate Business in IrelandUpdated on Wednesday 27th January 2021
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What are the main rules of law regarding the Irish real estate sector?
Investors who want to set up a company in Ireland in the real estate sector should become familiarised with the main rules of law regarding this industry, which are represented by the Land and Convenyancing Law Reform Act. The registration of a real estate property in Ireland is governed by the Registration of Deeds and Title Act 2006. Another rule of law related to this sector refers to the Succession Act and our team of lawyers in Ireland can provide in-depth legal assistance regarding the regulations available in this sense, including matters of property division in case of divorce in Ireland.
The following video offers a short presentation on the registration of an Irish real estate business:
What are the main taxes related to commercial real estate in Ireland?
When setting up a real estate business which sells or rents commercial properties, other regulations may apply than the ones available for residential properties. Just like in the case of residential buildings, commercial properties are the subject of a set of taxes, which can be paid by both the seller and the buyer, depending on the type of tax and our team of Irish lawyers can offer assistance on the tax requirements available in this case. The main taxes imposed during the sale of a commercial property are the following:
- • stamp duty, imposed at the rate of 2% (calculated from the purchase price of the respective property);
- • value added tax, imposed at the rate of 13,5%, which can be imposed in specific types of transactions;
- • during the purchasing procedure, the buyer is required to offer a deposit of 10% of the property’s value;
- • if the property is available only for rent, the stamp duty will be imposed at the rate of 1%.
Why invest in the real estate sector in Dublin?
Being the capital city of Ireland, Dublin provides a set of investment advantages related to the real estate industry. In this sense, investors should know that Dublin is ranked as the 7th European destination (out of 31 cities) for investments in the real estate industry. Companies operating in this sector can benefit from a healthy market and increasing renting demand deriving from corporate bodies operating on the local market.
Businessmen interested in setting up a real estate business may address to our law firm in Ireland for consultancy services. Our attorneys can advise on the business permits necessary for this activity and can help businessmen in choosing a suitable business available for their Irish company.
Our team of attorneys also offers other types of services, such as legal representation in case of divorce in Ireland.