Ireland

Why Ireland ? There are a number of key reasons:

• small highly globalised economy
• young, skilled, well-educated and productive labourforce 
• strong research ecosystem
• stable labour costs
• affordable cost of living
• 12,5 % corporate tax rate on trading profits
• advanced telecommunications infrastructures
• reliable judicial and political system
• EU membership benefits and the only English–speaking jurisdiction in the euro-zone
• provision of a specific tax credit for research and development activity
• limited transfer pricing rules
• comprehensive double tax treaty network with over 70 countries
• effective compliance and anti-money laundering system

Reasons confirmed by a forecasting real Gross Domestic Product Growth at 3.2 % in 2017 and 3.1. % in 2018.

Moreover, the outcome of the UK’s referendum on EU membership (so called Brexit) and the impact it is having and is likely to have, has been the most significant and unanticipated European political event of the last 20 years. While much is still unclear about what form the Brexit from the EU will take, we can be certain of the Ireland’s role and determination to assist clients, irrespective of their starting point, in achieving their cross-border distribution goals.

Therefore, these are just some reasons why Ireland is the destination chosen by companies from European Union and all of the world. And for the same reason FASANO PAULOVICS decide to select Ireland as one of the main practices for its clients.

As usual, we do not offer any kind of legal services in respect of a country destination. We select and develop high qualified practices, in association with experienced and specialised Irish solicitors, for European and International clients useful to enrich the abroad perspective and consolidate and protect the domestic roots. 

Our ‘Irish Practice’ is focused on three main areas: Setting Up Business, Intellectual Property and Digital and Investment Funds.

SETTING UP BUSINESS

We advise clients on setting up a Company under the Irish law:

• assessing clients needs and planning entry strategy
• registering of business names and domain name
• preparing tailored memorandum and articles of association
• following the entire procedure even under the express incorporation scheme
• recommending and appointing professional resident directors and Qualified Company secretaries
• taking care of post-incorporation and annual obligations
• monitoring Irish Government incentives and tax benefits
• integrating the Irish Company with clients’ companies group.

INTELLECTUAL PROPERTY AND DIGITAL

A company licensing its Intellectual Property (IP) rights out of Ireland generally qualifies for the 12.5% rate of corporate tax, provided that there is relevant substance, management and control in the Irish operation and the royalty income relates to Irish activity.

FASANO PAULOVICS will assist you in assessing, planning and implementing the protection, the licensing and the development of such crucial intangible assets, combining legal approach with both tax and finance law.

FASANO PAULOVICS advises on:

• IP due diligence review
• strategic portfolio advice
• planning, implementing, acquisition/divestment, licensing international re-structuring, securitization of IP rights
• protection of image, personality rights and business reputation
• research and development agreements and technology licensing
• computer protection advice and licensing
• Internet, domain names and related disputes
• Internet based trade mark and copyright infringement
• e-commerce strategy
• contracts for the acquisition or license of computer and telecommunications systems
• cloud computing and services agreements
• IT and business process outsourcing and services arrangements
• Internet legal compliance
• content license agreements
• electronic signatures and certification services
• telecommunications, broadcasting and convergence
• data protection compliance
• due diligence, IT and IP rights audits
• agency, distributorship, franchising and joint venture agreements
• manufacturing and supply arrangements
• professional services agreements

INVESTMENT FUNDS

Ireland is a leading domicile for the establishment of regulated funds which are authorized by the Central Bank of Ireland (‘Central Bank), because:

• Ireland has a pragmatic regulatory environment
• On post-Brexit era, Ireland remains an EU country, an OECD member state, a member of the Economic and Monetary Union and was the only international funds centre to appear on the original OECD white list of countries that are in compliance with internationally agreed tax standards
• Ireland has a range of fund vehicles which can be tailored to suit investor requirements and which can be used to access our continuously expanding tax treaty network (which at present includes over 70 countries)
• Ireland has the vast majority of alternative investment funds
• Ireland provides the most favourable and effective tax environment for investment funds: unlike other jurisdictions, no fund tax is payable, no Irish taxes are imposed on income or gains made by non-Irish resident / ordinarily resident investors, no stamp duty is levied on fund units and there is no annual subscription tax for funds
• The Irish Stock Exchange (ISE) is widely regarded as one of the leading exchanges in the world for the listing of investment funds
• Ireland has been the first regulated jurisdiction to provide a regulatory framework specifically for the alternative investment fund industry
• Ireland has the largest number of stock exchange listed investment funds in the world.

In association with Irish firms, FASANO PAULOVICS can act as counsel to the fund to carry out initial fund set-up and launch activities included the following:

• coordinating discussions with local regulatory authorities, in particular with the Central Bank
• preparing the required fund manager application for delivery to the Central Bank
• submitting the fund ‘Fact Sheet’ to enable the Central Bank to raise any initial questions
• drafting required fund documentation, including constitutional documents, prospectus and service agreements
• negotiating legal agreements with fund service providers
• submitting the application for authorisation of the fund to the Central Bank, including draft fund documentation and material contracts
• coordinating the launch of the fund, including working with the fund’s Irish stock broker for any required listing on the ISE.

Pierfrancesco C. Fasano is the Partner qualified and registered as European Union Lawyer with The Law Society of Ireland (LSI) in Dublin.

Ivett Paulovics is the Partner charged of Irish operations in Milan.