QuickStart: to Market Entry

Whether entering the market or simplifying operations, we can give you a QuickStart.

IRELAND tmf-group.com Whether entering Ireland for the first time What makes us different? or simplifying existing operations, we can TMF Group is the global expert that understands local needs. give you a QuickStart.

KNOWLEDGE: Our independent TMF Group has local experts in Dublin providing , compliance, legal, experts understand the Irish corporate secretarial and HR and payroll services across Ireland. market and all its associated We can get you set up, provide a single point of contact and take care of those legal, financial and regulatory ‘non-core’ elements that keep your business moving, while you can focus on compliance requirements. what you do best: selling your products and services. FLEXIBILITY: We can offer an By taking the burden of the back office and centralising it through a single individual and tailored service provider, we work with you to increase efficiency and help strip out any that is scalable in line with unnecessary costs. business needs and is invoiced in whatever currency the client prefers. CONTROL: We can offer global QuickStart: to Market Entry Ireland has five main elements: reporting and one single point of contact to businesses operating across multiple regions. We help sort and We can help you SPEED: We help businesses maintain your find and manage to take an agile approach and enter new markets more legal set-up and an address to quickly than their competition. structure work from RANGE: We are the only global organisation to offer a complete suite of complementary business solutions. We help keep you We handle your We help your compliant with accounting and staff get paid on Irish regulations requirements time according and filings to Irish rules

Corporate secretarial services: We manage the legal set-up of new or existing operations and then help you stay compliant, manage your risk and stay on the right side of regulators and filing requirements. Office premises: Whether you need a registered address, rented offices or assistance managing your own premises, we can help with both your current and future needs. Accounting and tax: We take care of Irish tax registrations, bookkeeping, management reporting, consolidation reporting and statutory accounts and reporting to relevant Irish and international standards. HR and payroll: We help you to find local staff, apply and implement your international policies in Irish employment contracts and handbooks and pay your staff on time in compliance with Irish law.

TMF Group serves clients of all sizes and from all sectors; everyone from a small start-up to a large multinational. We work with more than 40% of the current S&P 500 and Fortune 500. Thinking of doing business in Ireland?

The challenges ...... and the opportunities Lack of local knowledge can result in: Great reasons to invest in the Ireland TAX PENALTIES LOST BUSINESS Home to European headquarters: Ireland is one of the most popular locations for multinationals to invest in CRIMINAL AND CIVIL LITIGATION Europe. With an attractive tax rate, a talented and highly skilled work force, and sound technology capabilities, Starting a business: A company founder (director, it’s already home to FDI operations from a wide range secretary or solicitor) engaged in the company’s formation of industries - including IT, pharmaceutical, software must attest (on the statutory incorporation form) that the development, digital media, financial services and life company has complied with the relevant provisions of the sciences - that have found plenty of success. Irish Companies Acts. Company registration usually takes Market opportunity: After enduring difficult economic one week when all documentation has been submitted. conditions the Irish economy has stabilised and Ireland Management and control of companies: At least one formally exited the EU-IMF bailout programme in of the directors of an Irish company must be a resident December 2013. The economy grew by 1.4% in 2012 and of a Member State of the EEA. If a person’s residence in is expected to improve year-on-year to reach strong Ireland needs to be determined, for example, they must levels of expansion. The country is looking to focus on have been present in the state for a period amounting in international trade, which is at the heart of its growth aggregate to 183 days or more during the 12 months or plans; exports are on the up and FDI is increasing rapidly. 280 days over the 24 months (excluding 30 days or less in Favourable corporate tax rates: Ireland has one of any one year) preceding the date of incorporation of the the lowest corporate tax rates in the world with the company in order to qualify as “resident”. There are some Irish government repeatedly stating to the multinational exceptions available to the company post-incorporation. community their commitment to the 12.5% rate. Filing returns and paying : Companies are Best country for business: In 2013 Ireland was named required to register with the Office of the Revenue as the “best country for business” in rankings carried out Commissioners for various taxes, including corporation tax by renowned US financial magazine Forbes. The standings and VAT. There are various returns to be filed with Irish are determined by grading 145 nations on 11 different Revenue at different times during the year with respect factors: property rights, innovation, taxes, technology, to withholding tax, dividend income, corporation tax, VAT, corruption, freedom (personal, trade and monetary), red VIES (VAT Information Exchange Systems), employer taxes tape, investor protection and stock market performance. and social security returns. Skilled labour: Ireland is first in the world for availability Trading across borders: Trading across borders takes an of skilled labour, with a young and well-educated average of seven days when exporting and 12 days when workforce. Due to open EU labour markets, it can also be importing. There are four documents to prepare each way. a base of skilled labour from across the EU. Meet our Ireland Managing Director Ronan Reilly leads our Dublin office of legal and accounting professionals and has more than 18 years of experience in finance and accounting roles. ‘‘TMF Group have been fantastic to work with. We He is a director of Irish aviation SPVs, managing hundreds of aircraft that have daily communication are linked to large global lessors. Prior to joining TMF Group, he was Head where necessary. They are of Finance at Deutsche Bank Emerald Trading, a Dublin-based hedge fund super responsive, super operation. He previously worked for Deutsche Bank for more than seven supportive and very years as VP Finance. Ronan has also held accounting roles at Merrill Lynch, responsible.” London and IBM Ireland. Ronan has been a member of The Institute of Chartered Accountants in Kerrie Power Ireland (ICAI) since 1997. He holds a Bachelor of Arts (BA) in Accounting Customer Relations Director and Finance and a Master of Business Studies (MBS) in Accounting from Nordeus

Dublin City University. He completed a Diploma in Aviation Finance and Leasing at the Law Society of Ireland in 2013.

Get in touch with Ronan or his team to discuss how to grow your Irish business [email protected]

Whilst we have taken reasonable steps to provide accurate and up to date information in this publication, we do not give any warranties or representations, whether express or implied, in this respect. The information is subject to change without notice. The information contained in this publication is subject to changes in (tax) laws in different jurisdictions worldwide. None of the information contained in this publication constitutes an offer or solicitation for business, a recommendation with respect to our services, a recommendation to engage in any transaction or to engage us as a legal, tax, financial, investment or accounting advisor. No action should be taken on the basis of this information without first seeking independent professional advice. We shall not be liable for any loss or damage whatsoever arising as a result of your use of or reliance on the information contained herein. This is a publication of TMF Group B.V., P.O. Box 23393, 1100 DW , the (contact@ tmf-group.com). TMF Group B.V. is part of TMF Group, consisting of a number of companies worldwide. Any group company is not a registered agent of another group company. A full list of the names, addresses and details of the regulatory status of the companies are available on our website: www.tmf-group.com. © May 2014 TMF Group B.V.

tmf-group.com