Expand Business in Ireland
Global Upside helps businesses expand into Ireland by providing talent acquisition, human resources, accounting, payroll, tax, incorporation, and professional employer organization (PEO)/employer of record (EOR) services. Our comprehensive offerings create an end-to-end solution that helps you establish your business and optimize your operations, all while maintaining compliance with laws and regulations of Ireland.
The hiring and incorporation processes in Ireland are often complex, time-consuming, and involve numerous legal and compliance challenges. Global Upside simplifies these processes and lifts the compliance burden from your business. Our teams have the experience and expertise required to help you establish a legal entity in Ireland. We also offer PEO/EOR solutions to companies interested in hiring employees quickly, without setting up a legal entity in the country.
The economy of Ireland is a mixed one and the top exports are vaccines, blood, culture, and antisera, scented mixtures, medical instruments, and Nitrogen Heterocyclic Compounds.
- Ireland ranks as the 33rd largest economy in the world in terms of nominal GDP.
- Ireland ranks as the 15th largest economy in Europe.
- Ireland is the 11th best country for business in the world.
Private Limited Company is a form of establishment that requires at least one investor and one director, regardless of their nationality. However, one of the directors needs to be a resident of Ireland. This kind of establishment is best for any small and medium-sized business.
Public Limited Company needs at least seven investors and two directors; and one of the directors needs to be an Irish resident.
Limited Liability Partnership is not an individual entity and needs a minimum of two investors – either individuals or firms. One of the partners has to be a general partner who is subject to the liabilities and the other partners are limited partners who are liable only to their extent of the contribution.
Branch Office can be set up after appointing a resident delegate and providing a business address here in Ireland. It is an expansion of a business and the accounting is processed from the parent company. It is a foreign office of an existing company and does the same commercial activities.
It takes approximately two to three weeks to establish a legal entity set up in Ireland.
In Ireland, the basic terms of employment are mentioned in the Terms of Employment (Information) act, 1994, according to which a written employment agreement needs to be given to the employee within two months of the date of joining.
- Full name of the employer and employee
- Address of the employer
- Job location
- Job profile and description
- Date of commencement of the job
- Expected duration of the job
- Payroll frequency
- Working hours
- Pension schemes
- Termination and notice period
The payroll frequency is a monthly basis and employees must be paid before the month-end.
The fundamental financial reporting systems that are being used in Ireland and the UK are IFRS (as approved by the EU), published by the International Accounting Standards Board (IASB) and Irish and UK GAAP, promulgated by the Financial Reporting Council in the UK (FRC)
A new bill has been passed in Ireland, called the Data Protection Act 2018 and this was signed by law on 24 May 2018.
According to the Data Protection Acts 1988-2018, an individual’s privacy remains protected, and also it is the responsibility of the connected organizations who process the data.
Anti-Bribery & Anti-Corruption Law
On 30 July 2018, the Criminal Justice Corruption Offences Act 2018 (CJCOA) came into play which governs bribery and corruption.
The legal consequences of being found guilty of bribery and corruption offenses for public officials include imprisonment, monetary fine, seizure of benefits received, and a ban on holding office. The severity of the forfeit depends on the nature of the felony committed.