One of the most important questions to decide when establishing a new business in Ireland is whether to trade as a sole trader, partnership or a limited company.
The answer will depend largely on the nature of the business and your financial circumstances.
Why establish a Limited Company?
Tax advantages are one of the main factors in trading with a limited company in Ireland. Ireland’s corporate tax rate of 12.5% is one of the lowest in the world.
Many foreign companies such as Google and Microsoft are in Ireland to take advantage of these low rates.
Another major advantage is ‘limited liability’. Promoters of a company take shares in return for share capital. The company is a separate legal entity to the shareholder. If debts of the company remain unpaid, it is the company and not the shareholders that will be sued. The value of the share capital is the extent of exposure of the shareholders if things do not go according to plan. Therefore their personal assets are not at risk if there is a claim against the company.
Ownership of the company may, by issue of shares, be distributed to any number of family members or other partners or investors.
Tax incentives are available to limited companies such as the Business Expansion Scheme (BES) which offers individual investors tax relief for investing in certain categories of trade such as manufacturing, tourism, music etc.
Greater scope for pension planning through a company.
Tax breaks for directors of limited companies.
Protection of company name by registration in the Company Registration Office.
At O’Shea Legal we have helped many companies to get established over the past thirty years and will be able to advise on the most cost effective and flexible way for you to establish your new business in Ireland.
So why not get a no obligation fixed fee quote now. You could save a lot of money. If you have questions, why not call or email us now without obligation and we will be happy to answer your queries without charge.
No solicitor/client relationship or duty of care or liability of any nature shall exist or be deemed to exist between O’Shea Legal and you until you have received confirmation in writing from us in which we confirm our appointment as your Solicitors.
*In contentious business a solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement.
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Just a note to say thank you so much for your kindness and understanding. You made such a difference at a very difficult time in life. Heartfelt thanks to you Eoin.
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I have engaged Eoin O’Shea as my solicitor on several occasions over the years and I am more than happy with his services. I wish Eoin continued success in his legal practice.
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Eoin, you're more than welcome for the gift. Apart from all the legal matters you dealt with, I really appreciated your patience and understanding.
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Our Legal Publications
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The Executors Guide - 'At last a step by step guide, composed in plain english, for the executor or administrator who chooses not to employ a solicitor. This book contains invaluable advice and tips on how to get the difficult task of winding up an estate of a deceased person done as quickly as possible avoiding the traps for the unwary. It covers all the steps from the grave to the final distribution of the estate. It can save the estate thousands of euro in legal fees'
The Executors Guide - 'At last a step by step guide, composed in plain english, for the executor or administrator who chooses not to employ a solicitor. This book contains invaluable advice and tips on how to get the difficult task of winding up an estate of a deceased person done as quickly as possible avoiding the traps for the unwary. It covers all the steps from the grave to the final distribution of the estate. It can save the estate thousands of euro in legal fees'
The Employers Guide - 'The only up to date guide on how to hire, manage and fire staff without fear of being sued.This book contains invaluable advice and tips for employers on how to negotiate the minefield that is employee rights and obligations. It contains precedent employment contracts incorporating the requirements of the latest Irish Law together with sample policy documents, procedures and letters for the most common situations. Written in plain English this book is required reading for every employer who prefers to preserve the company funds for the benefit of the company as opposed to its lawyers and unfairly treated employees.'
The Business Start-Up Guide - Essential reading for any budding entrepreneur wishing to establish a business in Ireland. This book describes in plain english the main rules and regulations that must be followed and gives invaluable advice and tips for the unwary. It covers advice on limited liability, partnerships and sole traders , employment traps for the unwary, health and safety obligations, standard documents and contracts. A must read for any businessman who wishes to avoid being prosecuted or sued.
The Accident Victim Guide - The ultimate guide to dealing with the consequences of an accident. This book, written in plain English, describes the steps that need to be taken after an accident to preserve the evidence, prepare a case, file a claim with the Injuries Board, quantify all the losses, value an injury and process a case through the courts. It gives lots of useful insider tips to help you deal with Solicitors, Doctors and Insurance Companies and even on how to process your own claim. This is an easy to read and invaluable guide.
