Limited Partnership (LP) in Ireland — Digital Products Seller Formation Guide
Focus on jurisdictions that support global payment processors. If selling to EU customers, consider how the jurisdiction handles VAT OSS (One Stop Shop). US LLCs are popular for accessing Stripe, while UK or Estonian companies offer great European integration.
Last verified: June 13, 2026
Corporate Tax
0.0%
State Tax
0.0%
Formation Cost
$110
Annual Fee
$0
Forming a Limited Partnership (LP) in Ireland as a Digital Products Seller means a total tax burden of 0.0% and an official formation cost of $110. There is no minimum capital requirement. Standard formation takes 5-10 business days, or 1-3 business days expedited. No local director is required; the process can be managed remotely. This guide covers the steps, tax breakdown, banking options, and compliance requirements — all from verified data.
First-year total cost
≈ $110
Ongoing (per year)
≈ $107
Why Limited Partnership (LP) for Digital Products Seller?
Entrepreneurs selling non-physical goods such as software, e-books, online courses, templates, and digital art. This business model requires a jurisdiction with excellent payment gateway access (like Stripe or PayPal) and clear rules on digital VAT/Sales Tax.
Ideal for
- E-book authors
- Online course creators
- Software and SaaS developers
- Digital template designers
Challenges to watch
- Managing global VAT and sales tax compliance
- High chargeback rates for digital goods
- Intellectual property protection across borders
Key decision criteria
- Access to Stripe, PayPal, and other major payment gateways
- Tax treaties to avoid double taxation on royalties
- Ease of remote company management and banking
Limited Partnership (LP) formation requirements
Minimum capital
None
Standard timeline
5-10 business days
Expedited timeline
1-3 business days
Local director
Not required
Registered office
Virtual office allowed
Notarization
Not required
No local resident partner is required. Both General and Limited Partners can be non-residents or foreign entities.
Estimated breakdown (based on avg. $60,000 revenue)
Simulate with your own revenue →
VAT / Sales Tax
Standard rate 23%. Registration threshold: 80,000 EUR. Non-established businesses supplying digital services to Irish consumers must register for VAT from the first sale, with no threshold, or use the EU OSS scheme.
Banking & payments for Digital Products Seller
Opening a traditional bank account in Ireland for a non-resident LP can be challenging due to strict AML regulations, often requiring an Irish resident partner or a face-to-face meeting. However, digital fintech platforms like Revolut Business, Wise, and Fire offer more accessible, remote-friendly alternatives for international founders.
Supported payment gateways
Remote-friendly accounts
Revolut Business
Highly popular digital bank in Ireland offering multi-currency accounts and easy remote setup for companies with EEA ties.
Wise
Excellent for international LPs needing to manage multiple currencies with low conversion fees.
Fire
An Irish fintech providing digital accounts with dual EUR and GBP IBANs, ideal for UK-Ireland cross-border trade.
Ireland incentives & advantages
Knowledge Development Box (KDB)
Effective tax rate of 6.25% on qualifying IP income.
R&D Tax Credit
30% tax credit on qualifying R&D expenditure.
Limited Partnership (LP) formation steps
Choose a Partnership Name: Ensure the name is unique and complies with CRO guidelines. If the name differs from the partners' true names, register it as a Business Name (Form RBN1B).
Draft the Limited Partnership Agreement: Create a private agreement outlining the rights, duties, profit-sharing, and capital contributions of the general and limited partners.
Appoint the Partners: Designate at least one General Partner (unlimited liability, manages the business) and at least one Limited Partner (limited liability, passive investor).
Secure a Registered Office: Obtain a physical address in the Republic of Ireland to serve as the principal place of business.
Submit Form LP1 to the CRO: Complete the Application for Registration of a Limited Partnership, signed by all partners, and pay the €2.50 filing fee.
Obtain the Certificate of Registration: Receive the official certificate from the Companies Registration Office, confirming the LP's legal status.
Apply for a Tax Reference Number (TRN): If the LP will trade in Ireland or requires a VAT number, register with the Revenue Commissioners (requires a local presence or active business).
Open a Business Bank Account: Apply for a corporate account using digital fintech platforms (like Revolut or Wise) or a traditional Irish bank if local substance requirements are met.
Digital Products Seller FAQ
Do I need to charge VAT on digital products?
Yes, in many jurisdictions like the EU, UK, and parts of the US, you must collect VAT or sales tax based on the customer's location, regardless of where your company is incorporated.
Which country is best for a digital product business?
The US (Wyoming or Delaware LLC) is excellent for Stripe access and low maintenance. Estonia (OÜ) is ideal if you want to keep profits in the company tax-free and need EU market access.
Can I run this business as a digital nomad?
Absolutely. Digital product businesses are location-independent. However, ensure your chosen corporate structure doesn't trigger tax residency issues in the country you are temporarily living in.
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One-time and annual cost breakdown
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