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Offshore Companies

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Ireland, Rep.

Limited Partnership
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General Info

Procedures to incorporate

With a limited company in Ireland, you can avail of the following advantages:

  • Easily trade services and/or products within Europe.
  • Benefit from low corporate tax rate, network of double tax treaties and other tax incentives.
  • Be part of a thriving entrepreneurial community.
  • Avail of an English speaking educated mobile workforce.
  • Benefit from pro-business state and semi-state initiatives to support start-ups in Ireland with practical and financial assistance.

Ireland is also becoming increasingly attractive as a holding company location for foreign investors particularly where it is combined with a trading activity such as headquarter activities, treasury or research & development:

Why do so many multinational corporations have international headquarters in Ireland? Ireland is a member of the European Union and the European Economic Area (the “Euro Zone”) which allows for easy trade of services and products throughout the EU, as well as other supports available from agencies supporting businesses in the area. In Ireland a limited liability company enjoys low corporate tax rates & beneficial cash flow. Ireland’s Corporate Tax Rate of 12,5% is one of the lowest in the World. A 0% rate is also available, though subject to conditions and the benefit is limited to the number of employers PRSI paid on staff salaries. You may also qualify for tax incentives for holding/headquarter companies and benefit from the Network of Double Tax Treaties that reduce withholding taxes. Government Policies in Ireland favour foreign investment, including R&D activities through IDA Ireland, Shannon Development and Enterprise Ireland.

The Irish Limited Partnership

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Capital: The minimum capital contribution is 2 EUR.
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Restrictions on Trading: Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.
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Directors: Not applicable.
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Designated Members: The minimum number of designated members is two (designated members are analogous to the executive directors of a company).
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Publicly Accessible Records: Yes.
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Nominee Designated Members: Allowed.
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Location of Meetings of Designated Members: Anywhere.
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Taxation: Fiscally Transparent.
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Double Taxation Treaty Access: No.
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Language of Name: English.
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Requirements to File Accounts/Reports: Limited Partnerships, where all the general partners are limited companies, are obliged to return accounting documents under European Communities (Accounts) Regulations 1993. Accounting documents include:
– Balance Sheet
– Profit and Loss Account
– Partners’ Report
– Auditor’s Report

A Partnership where all the members (partners) thereof who do not have a limit on their liability are companies limited by shares or by guarantee are obliged to file financial statements. If all the partners are individuals the Partnership does not have to file financial statements.

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Restricted Words: Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company” etc. will require justification.
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Name of a Partnership: The words “Limited Partnership” or “LP” must be part of the name of every company.
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Time to incorporate: Two days.
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Personal Presence Required: No.

The Irish Limited Partnership

One of the best Tax Planning Solutions

In general, Ireland is a jurisdiction with a standard level of taxation. However, Irish legislation provides the opportunity for registration and operating of companies with a zero rate of tax – the Limited Partnerships (LP).

An Irish LP with foreign members, which does not carry on a business in Ireland and derives no income on territory of Ireland, is not liable to tax in Ireland. According to the tax laws of Ireland, a LP is not considered as a separate subject of taxation. The founders should pay taxes from the profits received by the LP in their place of residence in proportions according to their share of interests belonging to them in the LP. As an example, an Irish LP with a General Partner resident in offshore, such as in the Seychelles, and which receives the income only outside of Ireland, will not be assessed for tax. Taxes will be paid by the members in the country of their residence if it is stipulated by the legislation of that specific country.

The favourable tax regime of LP companies does not eliminate the requirements for preparation of financial statements. Every LP is obliged to prepare financial statements, and the relevant Partnership Tax return must be filed annually with Irish Tax Revenue.

Packages and Prices

Ireland, Rep.

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Standard
Package

The cheapest option company formation, payment government fees, registered office, local registered agent, Client Due Diligence (CDD) full and free tax and legal assistance, and much more, to keep your entity fully compliant.

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Business
Package

A special package with all services as included on the Standard Package, plus our Bank Account opening services with an internationally known financial institution, offering you online banking, multi-currency account, debit cards and all other major banking services you may need.

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Premium
Package

A package with all services as included on the Business Package plus full Nominee Services (Nominee Members and Managers) providing you the highest degree in terms of confidentiality and anonymity.

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Should you have any question, our Business Development Managers team will be ready to guide and assist you!

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