Open Company in Ireland – Benefits of a Limited Liability Company

A lot of offshore business owners decide to open company in Ireland in the form of Limited Liability Companies (LLC). One of the principle benefits of opening such companies is the limited liability that a company’s shareholders are entitled to. Other benefits of opening a Limited Liability Company in Ireland include the following benefits –

Cheaper Company Formation

It is relatively cheaper to form a Limited Liability Company than a non liability company in Ireland. Only the assets of such a company are used to clear debts in case of insolvency or liquidation. The officers of the company hold no personal liabilities. For example if the creditors lose money due to director fraud the director’s personal liability will be without limit.

An LLC does not require any minimum share capital at the time of incorporation either. It must only be incorporated by two founders. The shares themselves cannot be publicly subscribed nor can they be transferred. 

Favorable Geographical Location
Since Ireland is a member of the EU Irish based companies are allowed easy trade of services and products through all the countries that are associated with the Euro zone. Company incorporation does not take too long for this reason either. In fact, most Limited Liability Companies are incorporated within two weeks.

Potential for Expansion
The potential for growth or expansion is higher where Limited Liability Companies are concerned. A LLC would also enjoy tax advantages as well. In other words they would be exempt from higher personal income tax rates since they pay corporate tax on their taxable profits. Tax regulations are lax towards company formation as compared to what is required from sole proprietors or an individual trader.  This is why shareholders prefer to Open Company In Ireland or in any other country that is a member of the Euro Zone.

Resources

Forming a Private Limited Company protects the interests of lenders especially if the company needs to initiate large scale production. According to a source private limited companies can maintain future financial commitment which helps their growth. If the company is adequately funded it can reduce the price of its goods thereby increasing customers and profits at the same time.

Continuity

Since a Private Limited Liability Company is its own legal entity it has the potential to maintain permanent succession. Since the shareholders act as agents of the company, the business will not be affected if they decide to make a hasty exit. The company’s Articles of Association will allocate the shares to remaining members in the event of death or resignation. A guaranteed succession therefore benefits the members as well as secures jobs and resources.

 

 Of course, being a part of the Euro zone also makes Ireland a favorable geographical location for international entrepreneurs or business owners who want to expand their companies in the country. This is why most owners would gladly go through any regulations especially if it means that they can Open Company In Ireland.