US companies continue to move to Ireland – Ireland is a gateway for them into the EU. Post Brexit, there is a growth in the number of UK companies looking to establish a corporate presence in Ireland.
The Irish Corporate Tax regime incentivises foreign companies to locate here. Ireland’s tax treaty network makes it attractive for overseas companies to establish a foreign holding or trading company in Ireland. In addition, the Irish corporate tax rate can be lowered through careful tax planning.
We have assisted international companies (operating in various sectors such as Pharma, Medical Equipment, Real Estate and Technology) by providing advice on the following:
- The optimal structure for acquiring an existing Irish business or setting up a new Irish operation
- Reviewing the Irish tax residency rules and trading status of the new entity to establish its eligibility for the 12.5% rate of Corporation Tax
- The Irish Corporation Tax filing and payment obligations for the new Irish operation
- The availability of Corporation Tax Start-Up relief, i.e. relief from Corporation Tax for the first three years of trading
- The availability of the Research & Development (R&D) tax credit, i.e. 25% credit against Corporation Tax
- Financing the new Irish operation
- The Value Added Tax (VAT) registration and filing obligations of the new Irish operation
- The tax treatment of the repatriation of Irish profits to the home country and how this can be facilitated tax efficiently
- The availability of the holding company Capital Gains Tax (CGT) exemption on the disposal of Irish or non-Irish subsidiaries
On the vendor side, we have also advised shareholders on the disposal of Irish companies to larger international companies (including companies listed on the stock exchange in the US and Europe).
During the all-important start-up phase, Warren & Partners has assisted clients:
- liaise with lawyers, regulatory departments, Irish Revenue and other parties to cut through the "red tape" of setting up operations
- where requested, connected the in-bound company with service providers to address ad-hoc business issues such as banking, recruitment, IT installation, office space etc.
To complete our service provision, we also provide compliance support services, including full Corporate Tax compliance services, payroll services and company secretarial services.