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