Procedure for establishing a branch in IrelandThere are various formalities required in order to set up a branch in Ireland. This includes the completion of form F12 or F13 as well as providing notarised and translated documents of the parent company. The branch must also have a registered office address in Ireland. The documents must be submitted to the Companies Registration Office in Ireland within one month of the branch being set up.
Accounting obligationsBranch companies must file annual accounts (and directors’ reports and auditors’ reports if required) for the parent company with the Companies Registration Office along with form F7.
Tax obligationsOnce an Irish branch has been established, it must also register for taxation purposes with the relevant tax authorities. Where applicable, this may include VAT taxes.
Irish branches are liable to corporation tax at the rates that apply to Irish resident companies on any trading profits and gains arising through the Irish branch.
Corporation tax is chargeable as follows on income and capital gains:
- Standard rate on trading income 12.5%
- Higher rate on non-trading income 25%
- Capital gains rate 33%