Ireland

Republic of Ireland, is a part of the island Ireland, second part of the island belongs to the United Kingdom and usually being called Northern Ireland. The Irish may be known for many things, but in this case we are going to be looking at the specific area of offshore business in Ireland. Nowadays many large corporations use Ireland as a vehicle for escaping some corporate tax on a large scale. I have a recent article on this matter here.

Economy

Large part of Ireland's economy comes from the export of such goods as zinc and other metals and metal ores, foods and drinks, also quite a large part of the export is pharmaceuticals, medical devices and software-related goods and services in the world. Ireland also plans to export a large amount of natural gas. Although there are so many services and export of goods, the corporate tax is still only 12.5% and, as I previously already stated, that makes Ireland a great place for tax evasion for large corporations, especially in the US.

Euro

Ireland joined euro zone in 2002, and since that has been using euro as the main currency, replacing the Irish pound (punt).

Language

The most commonly used languages in Ireland are Irish and English, both are commonly used, although the official language of the country is Irish, the English is starting to take an upper hand.

Incorporation

The incorporation process doesn't differ that much from incorporation in other jurisdictions. The main things to take in to consideration before incorporation in Ireland are: A local director must be employed and a local office must be maintained. The type of company incorporated in Ireland is Resident Private Limited and the time it usually takes to incorporate is around 10 business days.

Company upkeep

The yearly filling fess are relatively low compared to other countries, only downside is that, that you need to prepare quite a lot of documents yearly, that have to be filed. A positive side is that some of the documents can be filed online.