There are many reasons to establish a Limited Partnership in Ireland, ranging from limited liability to a 0% tax rate. An Irish LP is much the same as a Scottish partnership. Non-resident partners of LP do not have tax obligations in Ireland and file a tax return and pay taxes in the state of their residence.
Irish Partnership for Limited Liability (LP) must have at least one general partner and one limited partner in the structure (private individual or corporate body resident in any country). If a natural person acts as the General Partner (partners), the Partnership is exempt from the annual reporting. The package we offer includes the services of one individual offshore partner and one corporate partner, which will not only reduce taxation to 0% but will also save you additional expenses for reporting and accounting. If a General Partner (partners) is a legal entity, the Partnership in Ireland is obliged to submit annual reports.
If there is no activity in the territory of Ireland, there is a zero reporting.
Irish companies have no restrictions on the size of the company’s share capital. Even though LP is not separate taxpayer itself, in some cases they may receive a VAT number.