Unlimited Company (ULC) in Ireland — Import / Export & Trading Formation Guide
Choose a jurisdiction with strong logistics infrastructure, favorable customs agreements, and access to major trade blocs (like the EU or US). Consider VAT deferral schemes and free trade zones.
Last verified: June 13, 2026
Corporate Tax
12.5%
State Tax
0.0%
Formation Cost
$54
Annual Fee
$22
Forming a Unlimited Company (ULC) in Ireland as a Import / Export & Trading means a total tax burden of 12.5% and an official formation cost of $54. There is no minimum capital requirement. Standard formation takes 3-6 business days, or 1-3 business days expedited. This guide covers the steps, tax breakdown, banking options, and compliance requirements — all from verified data.
First-year total cost
≈ $1,124
Ongoing (per year)
≈ $562
Why Unlimited Company (ULC) for Import / Export & Trading?
A business model focused on sourcing goods from one country and selling them in another. Success relies heavily on supply chain efficiency, customs compliance, and navigating international trade tariffs.
Ideal for
- Physical product brands
- Wholesalers and distributors
- Dropshippers scaling to bulk inventory
- Cross-border B2B traders
Challenges to watch
- Complex customs and import duties
- High shipping and logistics costs
- Cash flow management due to inventory delays
- Regulatory compliance across multiple jurisdictions
Key decision criteria
- Proximity to major ports or logistics hubs
- Availability of Free Trade Zones (FTZs)
- VAT and sales tax registration requirements (e.g., EORI in the EU)
- Double taxation treaties between sourcing and selling countries
Unlimited Company (ULC) formation requirements
Minimum capital
None
Standard timeline
3-6 business days
Expedited timeline
1-3 business days
Local director
Required
Registered office
Virtual office allowed
Notarization
Required
If no director is resident in the EEA, the company must secure a Section 137 Non-Resident Director Bond.
Estimated breakdown (based on avg. $1,000,000 revenue)
Simulate with your own revenue →
VAT / Sales Tax
Standard rate 23%. Registration threshold: 85,000 EUR. Non-established businesses supplying digital services to Irish consumers must register for VAT regardless of turnover, or use the EU OSS scheme.
Banking & payments for Import / Export & Trading
Opening a traditional bank account in Ireland can be challenging and time-consuming for non-resident directors due to strict AML regulations, often requiring an in-person meeting. However, using digital fintech platforms like Revolut Business, Fire, or Wise is highly recommended as they allow for a fully remote and much faster onboarding process.
Supported payment gateways
Remote-friendly accounts
Revolut Business
A highly popular fintech option for Irish companies, offering multi-currency accounts, virtual cards, and a fully remote onboarding process.
Fire
An Irish-founded digital payment institution providing dual EUR and GBP accounts with fast, remote setup for local businesses.
Wise
Excellent for international startups needing multi-currency accounts and low-cost cross-border transfers, with fully remote onboarding.
Ireland incentives & advantages
R&D Tax Credit
35% tax credit on R&D spending, which can be used to offset Corporation Tax or claimed as a cash refund in installments.
Start-Up Corporation Tax Relief (Section 486C)
Up to €40,000 per year in corporation tax relief, linked to the amount of employer's PRSI paid.
Unlimited Company (ULC) formation steps
Choose a unique company name that ends with the suffix 'Unlimited Company' or 'ULC' (or the Irish equivalent 'Cuideachta Neamhtheoranta').
Determine the shareholder structure carefully; to maintain financial privacy, ensure the structure does not fall under the 'Designated ULC' definition.
Appoint at least two directors. At least one director must be resident in the EEA, or the company must secure a Section 137 Non-Resident Director Bond.
Appoint a Company Secretary. While a director can also be the secretary, a single-director company cannot exist in a ULC, so one of the two directors can fulfill this role.
Secure a registered office address located physically within the Republic of Ireland (PO Boxes are not accepted).
Draft the company's Constitution, which must include a Memorandum of Association with a specific objects clause detailing the company's intended activities.
Submit Form A1 along with the signed Constitution to the Companies Registration Office (CRO) and pay the €50 statutory filing fee.
Register the newly formed ULC for Corporation Tax, PAYE (if hiring employees), and VAT (if applicable) through the Irish Revenue Online Service (ROS).
Open a corporate bank account with a traditional Irish bank or a regulated digital fintech platform like Revolut Business or Wise.
Import / Export & Trading FAQ
Do I need a company in the country I am importing to?
Not always. You can often act as a Non-Resident Importer (NRI), but having a local entity can simplify customs, VAT registration, and local banking.
What is an EORI number and do I need one?
An Economic Operators Registration and Identification (EORI) number is required for businesses importing or exporting goods into or out of the European Union.
Should I incorporate in a Free Trade Zone (FTZ)?
FTZs offer tax exemptions and simplified customs procedures, making them ideal if you plan to re-export goods without them entering the local domestic market.
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Related guides
Complete Unlimited Company (ULC) guide
Taxes, requirements, banking, compliance
Unlimited Company (ULC) cost calculator
One-time and annual cost breakdown
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