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Setting up a company in Ireland: An interview with LTD founder

Setting up a company in Ireland: An interview with LTD founder

An interview with LTD founder


Interviewer:
Thank you for taking the time to share your experience with us. Can you tell us something about your company and your background story?

Founder: With pleasure. I come from Germany and set up a limited company five years ago (Ltd.) in Ireland was founded. Our focus is on SEO services and web design. We support companies in optimizing their online presence and making their websites user-friendly.

Interviewer: What made you decide to set up your company in Ireland?

Founder: Ireland offers a very favorable tax environment with a low corporate tax rate of 12.5%, which contributes significantly to reducing the tax burden. In addition, Ireland is a member of the EU, which provides access to a large market. The support of the Irish government and the availability of support programs and business hubs were also decisive factors.

Interviewer: Can you describe the start-up process in Ireland? What steps did you have to take?

Founder: The incorporation process was relatively straightforward. We had to register our company with the Companies Registration Office (CRO), a Bank account and apply for a tax number. It was important to have a local lawyer and accountant on hand to ensure that all legal and financial aspects were handled correctly.

Interviewer: What challenges did you face in the process?

Founder: One of the biggest challenges was the bureaucracy and understanding the local laws and regulations. Finding suitable office space and recruiting qualified employees were also difficult at first. I also had to adapt to the cultural differences in business life.

Interviewer: How does the taxation of your company in Ireland work?

Founder: The corporation tax rate in Ireland is 12.5% on the company's profits. This is significantly lower than in many other EU countries. There are also various deductions and tax reliefs that help us to further minimize the tax burden. For example, expenditure on research and development can be deducted from tax.

Interviewer: What financial benefits have you experienced by setting up in Ireland?

Founder: In addition to the low corporate tax rate, we also benefit from a well-developed financial sector that facilitates access to investment and loans. There are also numerous funding programs for start-ups, which helped us a lot in the initial phases.

Interviewer: Why do you feel safe to operate in Ireland?

Founder: Ireland has a stable political and economic situation. The legal system is well developed and offers protection for companies and investors. There are also strong networks and support systems for entrepreneurs that help us to overcome challenges and develop further.

Interviewer: Would you recommend other entrepreneurs to set up their business in Ireland?

Founder: Absolutely. Ireland offers many advantages, especially for companies in the technology and service industries. Starting a business is relatively straightforward and the support from the government and various organizations is excellent.

Interviewer: What tips and tricks can you give other entrepreneurs who want to set up a company in Ireland?

Founder: Here are some tips:

  1. Get good advice: Work with a local lawyer and accountant to ensure you meet all legal and tax requirements.
  2. Use networks: Join local entrepreneur networks and business hubs. These not only offer support, but also valuable contacts.
  3. Use support programs: Find out about the various funding programs and grants available for startups.
  4. Efficient bureaucracy: Ensure that all documents are submitted correctly and on time to avoid unnecessary delays or penalties.

Interviewer: What are the biggest challenges in scaling your company?

Founder: The biggest challenges in scaling up were internationalization and adapting our services to different markets. Managing a growing team and ensuring consistently high quality standards were also demanding.

Interviewer: Do you have plans to expand into other countries?

Founder: Yes, we are planning to expand our services to other European countries. We are currently examining the markets in France and Spain and are looking for local partners to facilitate market entry.

Interviewer: What role does technology play in your business model?

Founder: Technology is central to our business model. We use the latest SEO tools and web design technologies to provide the best service to our customers. We also continuously invest in training our team to stay at the cutting edge of technology.

Interviewer: Thank you very much for your insights and advice. We wish you continued success with your company.

Founder: Thank you very much. It was a pleasure.

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Disclaimer: Please note that the above dates, tax rates and regulations may change over time. Do not make any independent decisions without first consulting an expert for your individual situation. It is in your interest to always receive individual information from an experienced expert who knows your situation.

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