Free zones in Ireland refer to commercial areas in which the companies operate in a limited number of similar industries. The free zones have as a main advantage the specific infrastructure tailored to address the needs of the respective industries, as well as numerous tax advantages, which are only applicable for the companies included in the respective area. Our team of Irish lawyers can offer legal assistance to the investors who want to establish a company in the free zones available here.
The Shannon Free Zone in Ireland
Ireland represents one of the most attractive business markets in Europe, as it offers numerous incentives for both local and foreign companies. One of the highlights of the incentives availale here refers to the corporate tax, which is imposed at the rate of 12.5%. The Shannon Free Zone (FZ) in Ireland applies the same corporate tax, but investors may obtain a lower tax, of only 10%, in specific conditions.
The Shannon FZ represents the world’s first free zone and it was established at the end of the 1950s.
More information on the Irish Free Zones are available in the video below:
The main activities which can be carried out in the Shannon Free Zone refer to the following:
•repair and maintenance of aircraft;
•various trading activities, which have to be approved by the Ministry of Finance;
•manufacture of products related to the industries which can perform business activities in the free zone;
It is important to know that more than 100 companies are operating in the Shannon FZ, employing more than 7,000 persons. Our team of lawyers in Irelandcan offer legal advice on the employment regulations available here.
Free zones – tax advantages in Ireland
Companies operating in the Irish FZ can obtain numerous tax advantages. For example, companies are exempted from paying the value added tax (VAT) and custom duty.
At the same time, they can obtain grants for the following corporate aspects: