Company Formation in Ireland (LP)
Service Name
Start
Pro
Elite
Company Name Check and Reservation
Company Formation including Government Fees
Company Secretarial Services for the First Year
Incorporation Documents Package
Registered Office Address for 1 Year
Nominee Services for 1 Year
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Corporate Bank Account Opening
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–
Total Cost
€1850
€2750
€3350
Introduction to Ireland LP Company Formation
Company formation in Ireland (LP) is an excellent option for international entrepreneurs, investors, and businesses seeking a flexible, tax-transparent, and EU-recognized structure. The Irish Limited Partnership (LP) combines the benefits of global credibility, simplified taxation, and access to the European Union market, making it one of the most attractive corporate vehicles in Europe.
An Irish LP is particularly popular for international trade, holding companies, asset management, private equity funds, and cross-border investment structures. Its combination of transparency, credibility, and flexibility has made it a leading choice for global entrepreneurs.
This article provides a comprehensive overview of Ireland LP registration in 2025: structure, benefits, costs, requirements, step-by-step incorporation process, taxation rules, compliance, and common business uses.
What is an Irish Limited Partnership (LP)?
The Limited Partnership in Ireland is regulated by the Limited Partnerships Act of 1907. It requires at least two partners:
General Partner – manages the business and is fully liable for its debts.
Limited Partner – contributes capital but has limited liability and cannot take part in daily management.
This dual structure offers flexibility, asset protection, and efficient taxation, which is why Irish LPs are used by both local and foreign investors.
Benefits of Ireland LP Formation
Tax Transparency
An Irish LP is treated as tax-transparent. The partnership itself does not pay corporate income tax; instead, profits are taxed at the level of individual partners according to their residency.Prestige and Credibility
Ireland is an EU member with a stable legal and economic environment, making an LP registered in Ireland internationally respected.EU Market Access
Registering a company in Ireland provides full access to the European Union single market.No Minimum Capital
There is no statutory minimum capital requirement for forming an LP.Flexibility
Irish LPs can be used for funds, holding structures, real estate projects, consulting, and e-commerce businesses.Low Incorporation and Maintenance Costs
Cheaper than setting up a corporation while offering many of the same benefits.Confidentiality
Limited partners’ details do not need to be publicly disclosed.
Requirements for Company Formation in Ireland (LP)
Partners: At least two (one general partner and one limited partner).
Residency: Partners may be individuals or legal entities, local or foreign.
Registered Office: Must be located in Ireland.
Name Approval: Company name must be unique and approved by the Companies Registration Office (CRO).
Filing: Form LP1 must be filed with CRO.
Partnership Agreement: Strongly recommended to outline rights and obligations.
Step-by-Step Process of Registering an LP in Ireland
Choose a Business Name – Check availability with CRO.
Draft Partnership Agreement – Define roles, responsibilities, and profit-sharing.
Appoint Partners – At least one general partner and one limited partner.
Registered Office Address – Secure a legal office in Ireland.
File Form LP1 – Submit incorporation documents to CRO.
Certificate of Registration – Issued by CRO once the LP is approved.
Issue Partnership Certificates – Formalize contributions.
Open a Bank Account – Either in Ireland or abroad for international operations.
Tax and VAT Registration – If the LP will trade within Ireland.
Timeframe: 5–10 business days.
Request more information
Taxation of Irish Limited Partnerships
Tax Transparency – LPs are not subject to corporate tax; instead, profits are taxed at the partner level.
Non-Resident Partners – Foreign partners are not liable for Irish taxes on profits earned outside Ireland.
VAT – If the LP provides taxable services within Ireland, VAT registration may be required.
Double Tax Treaties – Ireland has one of the most extensive DTT networks in the world, reducing withholding taxes.
This makes Ireland LPs highly attractive for non-resident partners conducting international business.
Compliance Requirements
Annual Renewal – LPs must be renewed with the CRO.
Accounts – LPs must maintain financial records but are not obliged to file full annual accounts unless all partners are limited liability companies.
AML/KYC Rules – General partners must comply with anti-money laundering regulations.
PSC Register – In some cases, LPs must disclose Persons with Significant Control (PSC).
Common Uses of an Ireland LP
Investment Funds – Many private equity and venture capital funds are structured as LPs in Ireland.
Holding Structures – For ownership of shares, intellectual property, or real estate.
International Trade – Efficient vehicle for cross-border business.
Asset Protection – Safeguarding wealth under a strong EU jurisdiction.
Consulting and IT Services – Used by global freelancers and consultants.
Advantages of Ireland LPs Compared to Other Jurisdictions
More prestigious than offshore centers like Belize or Seychelles.
Full EU credibility and regulatory framework.
Tax-transparent, unlike limited liability companies.
Attractive to banks, investors, and regulators.
Challenges of Ireland LP Company Formation
Costs – Higher government fees than UK LPs.
Banking Requirements – Opening accounts may require detailed business plans.
Compliance – Stricter EU regulations compared to offshore jurisdictions.
Future of Ireland LPs in 2025
Ireland continues to be a hub for fund management, fintech, and international business structures. With its reputation as a stable EU jurisdiction and tax-transparent LP system, Ireland will remain a top choice for investors in 2025.
Conclusion
Company formation in Ireland (LP) offers entrepreneurs and investors a flexible, tax-transparent, and internationally recognized structure. With access to the EU market, strong legal stability, and credibility with banks and partners, the Irish LP is an excellent vehicle for international business.
By registering an LP in Ireland, you secure a prestigious, cost-effective, and compliant structure that combines the best aspects of flexibility and tax efficiency.
FAQ
An Irish Limited Partnership (LP) is a business structure with at least one general partner (who manages the business and is fully liable) and one limited partner (who contributes capital and has limited liability).
Ireland LPs offer tax transparency, EU credibility, low setup costs, and flexible structures. They are widely used for investment funds, holding companies, and cross-border trade.
The registration process usually takes 5–10 business days, depending on document preparation and CRO processing times.
Yes. Foreign individuals or entities can be partners in an Irish LP, and there are no residency restrictions.
No. Irish LPs are tax-transparent. The partnership itself does not pay tax; instead, partners pay taxes in their own country of residence (unless the LP earns Irish-sourced income).
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