🇮🇪 Ireland vs 🇨🇾 Cyprus
Company formation compared. Tax, setup, banking, costs.
🇮🇪
Ireland
Private Limited Company (LTD)
Tax: 12.5% trading profit
Setup: €69 (€19 + €50 CRO)
Time: ~5 business days
- ✓ Faster setup (1–2 weeks vs 4–6)
- ✓ Lower annual accountant fees
- ✓ Stripe + AIB + Revolut friendly
- ✓ Larger startup ecosystem
- ✓ English-speaking by default
- ✗ No non-dom personal tax break
- ✗ Higher cost of living
- ✗ Section 137 if non-resident
🇨🇾
Cyprus
Tax: 12.5% (same as Ireland)
Setup: €350–€800
Time: 4–6 weeks
- ✓ Same 12.5% corp tax
- ✓ Non-dom regime for residents (17 years tax-free dividends)
- ✓ Lower personal income tax
- ✓ Mediterranean lifestyle
- ✗ 4–6 week incorporation
- ✗ Higher accountant fees
- ✗ Less startup-friendly banking
- ✗ Smaller English-speaking workforce
Honest verdict