Ireland Guide: Business
Starting a business in a new country is a challenge, as it is everywhere. Find information here about company creation, prospects in the marketplace and tips on how to avoid problems. Get in contact with other people in the forums and post a classified if you are looking for or offering business opportunities.
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Need for Tax Residency in Business
Requirements in Ireland
An individual is not required to be a tax resident in order to establish any of the business structures detailed in 1.1, although if an incorporated business form is chosen, at least one of the directors must be resident in a European Economic Area (EEA) country.
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Foreigners in Business
Limitations on foreigners in Ireland
Foreigners from outside of the European Economic Area looking to establish a business in Ireland must (subject to certain exceptions, including those with refugee status, dependent relatives of EEA nationals allowed to reside in Ireland, and those who are allowed to remain in the country as the spouse of an Irish national, the parent of an Irish citizen, or those granted leave to remain on humanitarian grounds) obtain permission from the Minister for Justice, Equality & Law Reform.
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Tax Residence Rules
The rules for tax residency for business in Ireland
The taxation of individuals in Ireland is based on the concepts of residence and domicile. In order to be deemed resident in Ireland for tax purposes, a person would need to be present in Ireland for more than half of the tax year, or for 280 days over two consecutive years.
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Income Tax Rates and Bands
The tax structure for business in Ireland
Sole traders are taxed under the personal income tax regime on business profits, at rates of between 20% and 41%, (with the latter rate applying on income above EUR36,400 for a single taxpayer; EUR45,400 for a one-salary married couple; and EUR72,800 for a two-salary married couple).
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Taxes
Ireland Business Capital Gains Tax (CGT)
Capital gains tax applies to the individual owners or operators of a small business, although the situation varies according to whether the person in question is resident, non-resident (and a foreign national), or non-resident (and an Irish national).
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