Benefits of Irish residency: name change (Deed Poll) and other benefits

Have you ever thought about changing your name? Do you want to pay less personal or corporate tax? Ireland may be the answer for many.
Maybe your parents chose a first and last name combination that never really appealed to you.

Maybe you are better known by your nickname, or maybe you do not want to know anything about your past and would rather no one associate you with your old name.

Whatever the reason, you can legally change your name today, in a quite convenient, quick and simple way.

Deciding who you are

Has anyone ever told you that there are many things in life that you can not freely choose? Your country of birth, your family, your sex, the taxes you pay, your name…

If you have been following the events of the last few years, you are probable aware that (if you live in the West) you can easily change your sex if you want to. The novelty for many will be to know that you can even change your first and last name.

We think this is fantastic, because everyone should have the freedom to choose themselves as they see fit. Your life and your name are yours.

Changing your name is possible thanks to a service called Deed Poll. One of the countries best known for this possibility is the United Kingdom and another, as you may have guessed, is Ireland. In this article, we will focus on the process in the Irish office (specifically for EU citizens).

The Deed Poll is a type of formal legal document by which you agree to give up your old name and use a new one for all purposes.

Banks, passport offices and others accept as proof of your new legal name a properly drafted and completed Deed Poll. The advantage of changing your name through a Deed Poll is that the use of the new document, accompanied by your birth certificate, will not cause you any problems with government agencies or other bureaucracies.

You do not need to justify your name change.

How exactly do I make the name change?

You do not need a lawyer to apply for a name change. You must sign an acceptance of the new name and a waiver of the old name before a witness of legal age.

The witness must also make an affidavit in the presence of an attorney or a person who is sworn in under oath.

Of course, you will need to provide some documentation. Among other things, you will need to provide the following:

• Certified copy of a birth certificate.
• Certified copy of a valid photo ID (passport, driver’s license or even naturalization certificate).
• If applicable, proof of previous names (e.g. birth or marriage certificate, previous name changes by public deed, naturalization certificate).
• In the case of non-EU citizens, a deed permit issued by the Ministry of Justice under Article 9 of the Aliens Act 1935.

The cost of the name change is about 60 euros (stamp), not including VAT. You can find all the information on the official website of the Irish government.

However, there is one very important requirement, and it will have to be worthwhile for you: in order to be able to do all this, you must be habitually resident in Ireland. This entails acquiring tax residency, paying taxes there and establishing your center of vital interests in Ireland. Of course, if all you want to do is change your name, you can always give up your Irish domicile once you have completed the process of becoming tax resident there.

On Irish residency and non-dom status

Anyway, being a tax resident in Ireland does not have to be a disadvantage. On the contrary. There are ways to optimize taxes in Ireland, and it is no wonder that the country is listed in our Emigration Encyclopaedia, since it is interesting both for the taxes, and for the possibility to home educate your children.

A person is considered to be tax resident for the particular tax year if he or she is in Ireland for at least 183 days in that year, or 280 days between that year and the previous year, including a minimum of 30 days in each year. If the person does not do so, he or she will not become a tax resident.

If you wish to remain resident in Ireland after having fulfilled the first year with the initial requirement to become a tax resident but you do not want to spend much time on the island, there is something for you: you can get a tax certificate after the first year of tax residence if you spend 3 and a half months a year there.

As we explained in another article, the concept of domicile is fundamental in English common law, but it is not used in the same way in the rest of Europe. It dates back to the time of the British Empire, when many British citizens served in the overseas colonies.

Domicile would equate to the country with which the closest ties are maintained. This is usually the country of birth of the parent, unless one has resided outside that country for at least 17 years.

If you establish immigration residence in most English-speaking countries but do not have a domicile in that country, you can claim a special form of taxation called “Remittance Base”.

Non-dom means “non-domiciled”.

Under this form of taxation, foreign income is exempt from taxation provided it is not brought into or used in the country.

More specifically, this means that not only all transfers to an account in the country would have to be taxed, but theoretically also cash brought into the country, cash withdrawals and card payments. Only money used for travel or investments abroad is tax-free.

In all countries with a non-dom system, it is impossible to avoid paying taxes on at least a small part of your income each month – as it is assumed that you use some money to cover minimum living expenses. However, if you earn, for example, one million dollars a year, you can perfectly well bring only 70 thousand dollars into Ireland and not pay tax on the rest of your money.

About Irish Limited Liability Companies (LTD)

In case you decide to create your company in Ireland, you will be happy to know that Irish Limited companies pay one of the lowest rates in the EU: 12.5%.

Regarding VAT, in Ireland, if you sell under 37 500 € in case you offer services or 75 000 € if you trade in physical products, you will not be obliged to charge or account for the corresponding 23% VAT.

The audits are aimed only at larger companies, i.e. those with more than 50 employees, a balance sheet total of 3.65 million euros or an annual turnover of more than 7.3 million euros. In the case of smaller companies, audits are only required if the annual balance sheets are submitted with long delays.

Add to this the fact that incorporating your company in Ireland while living there is relatively inexpensive (about €800), and there is little reason not to opt for registering your company there.

Last but not least, we should not forget that Ireland is a pioneer in new FinTech technologies, which greatly simplify banking and payment transactions, especially for smaller companies.

For example, Irish businesses can easily obtain a SEPA business account through the financial services provider Fire, which we highly recommend.

Paypal, Stripe and any account with normal banks would also be within your reach with an Irish Limited.

You can read more about Irish companies here.

Want to take action?

If you want to change your name quickly and easily, it may be worth your while to settle in Ireland. There you can also benefit of the other advantages we have listed throughout the article.

For certain entrepreneurs, Ireland can be an excellent option, especially if they need a reputable company and bank accounts in the European Union.

If you need help with all this, you may want to hire a consultation with Staatenlos.