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Ireland – Limited Partnership
  • Ireland is a highly developed jurisdiction, a member of the EU and of the Euro zone.
  • As recently as 1980, Ireland was ranked among the most economically backward European nations. However, in the last decades this jurisdiction has made considerable economic and technological progress, so that today it is well established as one of the leading nations in the EU in, inter alia, hi-tech and financial services sectors.
  • 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 (L.P.).
  • An Irish L.P. 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 L.P. is not considered as a separate subject of taxation. The founders should pay taxes from the profits received by the L.P. in their place of residence in proportions according to their share of interests belonging to them in the L.P.
  • As an example, an Irish L.P. which has as members one Belize company and one BVI, 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 particular country.
  • The favourable tax regime of L.P. companies does not eliminate the requirements for preparation of financial statements. Every L.P. is obliged to prepare financial statements, and the relevant Partnership Tax return must be filed annually with Irish Tax Revenue.

GENERAL INFORMATIONTotal area - 70,273 sq km
Population - 4,600,000
Location - click here to see the map of offshore jurisdictions
Political status - republic
Capital - Dublin
Official language - English, Irish
Official currency - Euro (EUR)
Time zone - GMT +/-0
Company typeLimited Partnership (L.P.)
Directors/OfficersIrish L.P. companies require a minimum of 2 Partners, who may be natural persons or corporate bodies from any legal jurisdiction. There is no statutory requirement for a Company Secretary to be appointed.
Each Irish L.P. must file an information on its Partners with the Irish CRO (Companies Registration Office).
ShareholdersThe legislation on L.P. does not consider status of shareholders. The capital of a partnership is divided between the Partners.
SecretaryThere is no statutory requirement for a Company Secretary to be appointed.
Authorised share capital Standard authorised capital = EUR 100.
There is no statutory requirement for capital to be fully or partly paid on formation.
Company Names The name of an Irish L.P. must end with the words Limited Partnership, or the suffix "L.P.".
Company names containing restricted words such as "Bank", "Insurance", "Trust","Assurance", "Building Society", "England", "British", "European", "Irish", "National", etc. will not be permitted unless an appropriate national operating licence or special permit has been obtained by the partnership.
Beneficial Ownership information Information with regard to ultimate beneficial ownership must be disclosed to the Registered Agent of the partnership and is held by the agent on a confidential basis.
Filing of Annual ReturnThere is no requirement to file an Annual Return.
Filing of Financial StatementsEvery Irish L.P. must keep appropriate Accounting Records and prepare a Financial Statement annually.
Corporate TaxationIf the Partners of the L.P. are non-residents in Ireland and the L.P. does not derive any income within Ireland, the L.P. is exempt from Irish corporate tax.
Tax TreatiesLimited Partnerships which have no business activities in Ireland, do not derive any income from the Irish sources, and are managed and controlled by Partners who are not residents of Ireland, are not regarded as resident for tax purposes in Ireland and therefore are not entitled to take advantage of international Double Tax treaties concluded by Ireland with other countries.
Timeframe for incorporation 8/10 working days. A complete set of company documents can be delivered in 4/5 weeks.
Takeover of management & secretarial services for an existing Irish L.P. companyPossible, following verification of Beneficial Ownership and agreement with and discharge of liabilities to previous corporate service provider in Ireland.
Description of incorporation documentsClick here for itemised description of company documents.
"Ready-made"("Shelf") companiesWe are happy to register new company in this jurisdiction in accordance with client instructions.
Price of Irish L.P. companyEUR 1,640, including incorporation costs, full domiciliary (Registered Agent/Office) costs, set of documents legalised by Apostille, including General Power of Attorney.
Cost of annual support servicesEUR 1,280 per year, including annual Government Duty, full domiciliary (Registered Agent/Office) costs, General Power of Attorney for current year.
  • INTERNATIONAL OVERSEAS SERVICES has the following comments: -
  • An Irish the ideal solution for those who prefer to operate with an EU-registered entity but to have at their disposal a fully tax-exempt vehicle at the same time.
  • Given the above-stated advantages, Irish L.P. companies are very popular tools for conducting international business.
  • In Ireland there are certain obligations, including preparation of financial statements, which must be fulfilled by every type of company, including a L.P.
  • The favourable tax regime of a L.P. is based on its “pass-through” status in that all profit received by the L.P. is considered to be transferred to its partners. Accordingly, if the partners are resident in a taxpaying jurisdiction, they will be obliged to pay tax in their country of residence proportionally to their share of participation in the Limited Partnership.