Are you Brexit Ready?

Is the impending Brexit posing a serious threat to your business operations across European borders? Or is your business ready to grow exponentially in penetrating the European market?

Let Fitzgerald & Partners break Brexit barriers and direct your business to realising its full potential.

Brexit creates obstacles for the freedom of trade across EU borders. The vast majority of cross border traders have no experience dealing with tariffs and other non-tariff barriers.

Why set up in Ireland ?

  • The best country in Western Europe to invest in
  • 1st for flexibility and adaptability of people
  • 1st in the world for inward investment by quality and value
  • 1st in the world for investment incentives
  • In the Top 10 most innovative countries in the world
  • CORPORATION TAX RATE OF 12.5%

The success of Ireland as an investment location has been pushed by successive Irish governments, which contributed significantly to the development of business in the country. This approach has ensured a favourable tax environment for companies, (12.5% corporate tax rate), competitive operating costs, a productive and flexible workforce and a well-developed infrastructure with world-class support services.

  • Access to the EU single market
  • Your EU customers will not have to pay customs and excise duties
  • Trade tariffs and EU VAT rules apply

How Fitzgerald & Partners can navigate you through Brexit?

Fitzgerald & Partners can form a company in Ireland that is a subsidiary of a UK company, register the company and directors for taxes, and assist with getting a bank account opened.

The strategic move of incorporating your company in Ireland, which gives you access to the whole European market through Fitzgerald & Partners. We can also provide the co working space in our Business Innovation Hub.

Let our expert team take away your worries and strife, so you can focus on what really matters. We can advise on labour mobility, tariffs and cross border VAT. We have worked with lots of uk firms in helping them to plan for brexit.

Ireland as the ideal solution for Brexit

With the United Kingdom set the exit the European Union on the 29th of March 2019, many Companies find themselves in a predicament and may feel that they are being forced to choose a side as part of their Brexit strategy. With the Brexit date looming, a serious threat exists for certain business operations across European borders. Whilst a free trade deal is a possibility between the UK and the European Union, there is the likelihood of serious customs, VAT and tariff implications to consider.

These challenges put the Republic of Ireland in a unique position because of its shared land border with the UK via Northern Ireland. It is likely that Ireland’s existing trade relationship with the UK will lead to special provisions with the United Kingdom, which is currently the world’s 6th largest economy. British authorities have already announced their plans to remain part of the Common Transit Convention post Brexit. This creates a key advantage for Irish businesses allowing exports to pass from Ireland through the UK to their final destination with reduced customs checks and controls. Additionally, Ireland will maintain the EU Free Trade agreement allowing businesses to trade across European borders freely.

What are the benefits of forming an Irish company?

Cross-border trade is not the only benefit of registering a company in Ireland. Some of the main advantages include:

  • Very favourable tax system for companies. Low corporate tax rate of 12.5%
  • Ireland will be the only English-speaking country in the EU
  • Euro currency, no exchange fees when dealing across the majority of EU countries
  • Excellent Holding Company Regime
  • One of the easiest and most efficient countries in the World to do business
  • No Withholding Tax (‘WHT’) on dividends from Irish Holding Company to EU/tax treaty countries
  • Reduced rate of corporate tax for R&D/intangibles

Ireland is the ideal country for foreign direct investment and an attractive market for a business aiming to establish an EU presence.

Formation options:

Irish Subsidiary Company – 51% or more of this company’s shares are owned by the existing UK or overseas company

Irish Branch Company – This company does not issue shares and is viewed as an extension of the parent company

Irish Holding Company – This is a parent company that typically exists to hold shares of various subsidiary companies

Stand Alone Irish Company – This would entail registering a company in Ireland and transferring all assets of the existing overseas company

Contact our F & P team today to learn more about the various options available to your business as part of your Brexit strategy. We have many years of experience in company formations, company secretarial and corporate services. We can also assist with other essential services for your business including setting up a Corporate Bank Account, Corporate Tax, and VAT Registrations. Call 353 21 4774500.

Irish SME Brexit. How can Irish SMEs prepare for Brexit?”

Irish SME’s Brexit, Risk and Opportunities

We are working with lots of SMEs at the moment and businesses. Irish business is entering a new era. Our Fitzgerald & Partners team are here to work with you to help prepare for any scenario and to provide support in the months ahead. We are working with both Irish and UK firms in their contingency planning in terms of Brexit which covers a multitude of areas including cash flow and currency, contingency planning and regulation, supply chain, customs and on a practical level, applying for EORI numbers for SMEs trading with non EU Countries to register.

Lots of changes are happening including the Brexit Omnibus Bill. This will allow goods to be imported form the UK without having to pay VAT at the time of import, assuming the business operates with full VAT recovery. The same treatment will apply to all imports from outside the EU. This is a major change in the VAT rules which will assist in cash flow arrangement of all importers if enacted.

Uncertainty continue to dominate as far as Brexit is concerned and in this context we are working with our clients to prepare Brexit Business Plans looking at prudent business planning and preparation for same.