The Republic of Ireland is a full member of the European Union. It lies to the west of Great Britain from where it became independent in 1922. Ireland is an English speaking country although Irish is also an official language. It has a population of some 3.5 million of whom over 1.2 million reside in the capital, Dublin. It has a democratically elected parliamentary government.
Irish Non Resident Company
Non-resident status may be granted to Irish companies which are beneficially owned by non-Irish residents, do not undertake business in Ireland and which are managed and controlled from outside Ireland i.e. have non-resident directors.
An Irish non resident company has the following characteristics:
Irish non resident companies pay no taxes in Ireland.
A minimum of one shareholder is required. Bearer shares are not permitted. A share register must be maintained at the registered office address of the company and must be available for inspection by any member of the public. Details of shareholders are filed at the Companies Registry and with the Irish tax authorities but anonymity can be preserved by the use of shareholders who are the trustees of a discretionary trust formed as part of an overall tax planning structure.
A minimum of two directors are required. Corporate directors are not permitted. Details of directors must be kept at the registered office and appear on the public file kept at the Companies Registry but anonymity can be preserved by the use of third party directors.
Names must end with the word “Limited”. The following words and their associated activities can not be used: Assurance, Bank, Building Society or any other words deemed sensitive or offensive.
As a matter of local company law the company MUST maintain a registered office address within Ireland and it is a practical, but not legal, requirement for an Irish resident company secretary to be appointed.
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