Ireland LLP

Valsen Fiduciaries has been a leading partner for investors looking to register limited liability partnerships in Ireland. Limited Liability Partnerships (LLP’s) are available in Ireland (called Limited Partnerships – LP’s), however they are quite rarely used, and only a handful are registered in Ireland each year. An LP must consist of at least one general partner and one limited partner. The partnership should not consist of more than 20 persons or, if carrying on the business of banking, of more than 10 persons. The general partner(s) is/are liable for all the debts and obligations of the firm. The limited partners contribute a stated amount of capital and are not liable for the debts of the partnership beyond the amount contributed. A partnership can be made up of natural persons or corporate entities. Investment Limited Partnerships (ILP’s) are used sometimes by the funds industry.

Ireland LLP Key Features

1. An LP must consist of at least one general partner and one limited partner.
2. The partnership should not consist of more than 20 persons or, if carrying on the business of banking, of more than 10 persons.
3. The general partner(s) is/are liable for all the debts and obligations of the firm.
4. The limited partners contribute a stated amount of capital and are not liable for the debts of the partnership beyond the amount contributed.
5. A partnership can be made up of natural persons or corporate entities.

Ireland LLP Legal Features

Ireland LLP	Corporate Details
General
Type of Entity	LLP
Registered Office in Ireland	Yes
Shelf company availability	No
Our time to establish a new company	5 – 10 business days
Corporate Taxation	12.5%
Access to Double Taxation Treaties	Yes
Share capital or equivalent
Standard currency	Euro, €
Permitted currencies	Any
Minimum paid up	€1
Managers / Shareholders/ Directors
Minimum number	Two
Local Director	Yes
Corporate Shareholder allowed	Yes
Company Secretary
Required	Ye
Local or qualified	No
Accounts
Requirements to prepare and Submit	Yes
Tax Returns	Yes
Audited Annual Statements	Yes

 

Ireland LLP Tax Treatment

The LLP is a tax transparent entity and is not liable to pay corporate taxes

Ireland LLP Advantages

1. The LLP is a tax transparent entity and is not liable to pay corporate taxes
2. Low minimum paid up capital of €1

The Valsen Advantage

1. End to end comprehensive service
2. Speedy and efficient service
3. Expert advice on structuring options
4. Dedicated ongoing compliance support
5. Extensive network pool of service providers