How do i setup my own business in ireland




















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To sum up, there are 10 major steps for you to build an online business in Ireland, including select and registering a business name, buying a domain, choosing a platform and proper hosting service, contacting a web agency to get a quote, and preparing your budget, develop your website with thorough testing, focus on SEO to boost online presence. Top 6 Benefits of Magento eCommerce Platform. You must be logged in to post a comment. We've compiled a series of need-based businesses, with minimal startup costs, that you can start as soon as possible.

Leave a Reply Cancel reply You must be logged in to post a comment. The registered office address must be a physical office and cannot be a PO Box number or a rented mailbox. If you get an office in the future, you can change the registered office address by filing a Form B2 with the CRO. Hi Orla, Just very simple question. How about capital? Thanks, Vince. There can be a lot of legal and tax considerations when starting up your own business. There are too many issues to deal with in a blogpost.

Many offer free initial consultations. However, you will be obliged to submit an annual income tax return, whether or not you receive a salary from the company. Otherwise you could face a surcharge. If you are receiving an income from the company and from employment, you may need to split your tax cut-off point and tax credits between the two. Just wondering can I set up a limited company with the intentions of starting to trade in the future?

If turnover was very small in your first year would you still have to submitt your Financial Statements at your year end? Once you register a company, you have obligations with the CRO to submit an annual return and abridged financial statements each year. These will need to be submitted whether the company made any money or not. While you are testing the waters, you could trade as a sole trader for a while and then transfer into a company.

It will depend on what your plans are and whether you will be seeking investors etc. Hi Orla, Thanks for sharing your knowledge. I am considering purchasing some welding equipment for personal use, but want to claim back the vat involved. Would setting up a limited company allow me to do this? In addition, I would like to have the option of selling some welded products to the public, so what is the best way to achieve these objectives?

Kind regards, Padraig. If you plan to sell welded products to the public you could either register as a sole trader or set up a limited company. It depends how much trading you expect to do. If you are thinking of setting up in business, you could contact your Local Enterprise Office who can give you guidance and support on how to set up in business. If you have any other queries or you want to pop in for a meeting about this, please do not hesitate to contact me.

Hi Orla, I have already set up a company — whose name is associated with a main product I am developing. However, I also need to create an additional product — that has an entirely separate name — and while somewhat similar to the original company produxt, is still a separate product in its own right.

So, do I need to set up another company for this separate product? Or can it be that this second product can be set up as some sort of subsidiary of the original? Or do I need to make some sort of formal adjustment to the details of the original company set up to state this? Your company Memorandum of Association should specify the activities that the company can be involved in.

If the new product falls under this, then you are fine. If not, you could consider changing the Memorandum of Association. However, the new Companies legislation which should be commenced this year, will allow all LTD companies to carry out any activity, so it may not be worth changing the Memorandum at this stage.

Thank you for the nice post,Im on the Jobseekers allowance at this moment,I just wondering: 1. If I will be as second Director not general Director of the Limited company and if the company will be bankrupt,can I get then a Jobseekers allowance I did worked and was paid on class A,just about 1 year,so dont have 2 years paid a class A. I did hear,that from years,it is ok to set up a Limited company just with one Director.

Thank you very much Orla for the answer. The best thing to do is to contact your local dept of social protection office. They will have your full PRSI record and should be able to tell you what you are entitled to. The new Companies Act should be commenced around June This will allow a company to have just one director. It will need a separate company secretary if it has only one director, however. Hi Orla, This is a very informative blog. I want to set up a writing business with my husband and my query is about his pension.

At the moment it is in a defined benefit scheme. If we set up a business can we have the pension transferred to our company and Is it necessary to set up as a limited company to do this? As accountants, we only deal with the tax-savings side of pensions. A financial advisor should be able to advise you on whether it is possible to transfer the pension.

I am thinking of setting up a company and have 2 non earning directors got but I want to be 1 of 2 shareholders. If I want to be an anonymous shareholder in a company is this possible even if it means setting up some sort of trust within the company.

Also how much do you charge for setting up a limlted company? Hi Orla, thanks for all the helpful info. I am planning to do some contract work in Ireland. The company I will be contracting with will only pay to a private limited company. Thanks in advance. I am not sure of the US system, but, in general terms, a private limited company in Ireland has the following characteristics:. Im thinking of starting my own business in construction, i been asked to build a house later this year, im in full employment at the moment,cant decide to go sole trader or limited company, the house should cost k plus, thats the first year,second year turn over may be 80k to k maybe more hopefully,im trailing the internet for information on how to set up my own business, your blog has given me great information, thanks kind regards Kevin.

As you will be in the construction industry, you would definitely benefit from hiring an accountant. The RCT regime has become very strict and you will be penalised for late and incorrect returns automatically. An accountant can assist you with your tax obligations or guide you on how to complete the returns yourself. If you are based in Cork or the surrounding area, I would be delighted to meet with you to discuss the above in more detail.

Our initial meeting is free of charge. Firstly, youre website, this blog and your response to your enquiries is quite impressive. Im must applaude you for actually engaging with the enquiries you receive and taking the time to respond.

I too am considering setting up a company, and I would appreciate your thoughts on my scenario as on the face of it, it seems a little complex. I am considering investing in a franchise, which is based in the UK. The service the franchise sells is also exclusive to the UK market incl N. Im wondering, what implications may apply. As a financial professional, Id be very interested to hear your expert opinion. Do you want to pop in for a meeting some time and we can discuss it in more detail?

Our initial meeting is free. I intend to start locum work as a medical practitioner working through an agent but servicing the HSE. Am I better off to work under an umbrella company for tax purposes or do I have to open a limited company? We have formed a limited company half year ago with one main shareholder-director. Now director-shareholder decided to transfer half shares to me. Can he transfer the shares?

Our accountant says that it is not possible to do it after a half year. Thank you. Can you ask for a written explanation? There may be a restriction in your Articles of Association or your shareholder agreement or there may be a good tax reason not to sell the shares at this time. Can I open a Private limited company in ireland bdfore visiting and open a bank account as well reason I am planning to buy a property in Dublin.

Just a few quick questions. My partner and I are looking at setting up a Ltd company. I will be settling back home in the future. Also, the business will be, for now, just my partner and I. When registering the company for tax, you will need to enter your Irish PPS number in the directors section of the form. If you need any advice or assistance in forming the company, please do not hesitate to call or email us orla fidelia.

Apologies for 2 seperate posts Orla. As part of our business we will be bringing in a machine s from a UK company, who in their repayment plan have VAT on the price, not just the deposit but also the monthly repayments. I am pretty sure that we would not be able to claim back on this.

Thanks for your comment. VAT is a complex tax, so I would need to know more, before I could advise you. Can you drop me an email orla fidelia. Sorry for the delay in replying. Just back from annual leave. An Irish Ltd must have a registered office in the Republic of Ireland. Note that the CRO will only register a company if they are satisfied that the company will carry on an activity in the Republic of Ireland.

Hello, congrats on this wonderful blog. If the company is small and the financial statements are not required to be audited, then you can submit your own accounts to Revenue and CRO. Q, As the business will be online can I use my home address? If I use my home address will this show up on goolge on the right hand column when i search the business name? Q If the business dosent make any money, Isit still possible to claim back the vat on things like website cost etc I plan on registering as a company before I get the work done..

You will need at least two people. However, you will need a separate person to be the company secretary. You can use your home address as the registered office. For this reason, you may want to rent some office space, perhaps in a business centre such as Regus etc if you want to keep costs down.

Any refunds will be transferred to the company bank account. Whether the company makes money or not in the first year will not impact the VAT refunds. Hi Orla, Happy New Year! I am currently setting up an online network which will go on to involve talks at schools and facilitating workshops. The reason I am not setting up the organisation as a non profit straight away is that I am on my own still developing a team.

Would love to hear your thoughts Thanks kindly. Orla mentioned in one of the previous comments past december, to register an office at Regus.

We were just contacted by Regus where we had our registered address that we cannot use it as we were registered for virtual office there and using their coworking buisness lounge to receive all the post there but that we cannot use their address as registered business address unless we actually rent an office.

Is that correct? My question would be — we have been a registered company in Ireland for the past 2 years but we are opening a business in the UK and the directors will move there as well. What is the best way to keep the Irish company going what address to use if there is noone residing in Ireland , what would we need to change when it comes to registration records?

A registered office cannot be a PO Box type address or virtual office. Your second query regarding the move to the UK is a bit more complicated and you would need to get advice on this matter.

Fair play to you for answering so many questions, a lot of useful information from the above which i have read through and tried to pluck information relevant to my scenario. That said, i still am a little bit unsure of my next steps here. My friend runs a company based and registered in the North of Ireland but has recently been trading quite a bit in the south of Ireland. I suggested he potentially setup here, primary reason being to avail of a lower corporate tax rate.

See below facts and some questions. Can he simply register as a separate company in the south by completing form A1? He does not have a registered office in the south but lives here. I assume he can use his own addressfor now?

All of his admin is done from the North in an office space. Will he encounter establishment issues? He employs Irish staff and pays them through Irish payroll, through his accountant in Newry 4. He genuinely trades in the south, buying and selling all over the 26 counties 5.

He sought advice a few years ago about setting up a separate entity in the south and paying a trademark fee to Northern based company as this is tax allowable? Would you have any advise on this? Is it worthwhile? This means that before you invoice your clients, you need to be registered for tax with Revenue. It is a separate process to registering your company with the CRO and this process is usually done by an accountant. Paying tax and filing tax returns can be a complicated process with strict deadlines and penalties for non-compliance, so for peace of mind, you can outsource this duty to an accountant.

To open a business bank account in Ireland, one director usually needs to have at least one face-to-face meeting with a bank representative. Alternatively, you can set up an online bank. Before you set up a company bank account, you need the company documents — including the original certificate of incorporation, your company constitution, and a copy of the A1 form. You also need to file your RBO before you can set up a bank account, so talk to u s if you need help gathering all these documents.

When you incorporate your company, you need to file Annual Returns with the CRO, even if you are not trading. The first Annual Return is due 6 months after incorporation and no financial statements are required. Do you have questions about your compliance requirements for new companies in Ireland? Our team of Client Services members is happy to talk you through the deadlines for new companies. Talk to our Client Services Team about outsourcing your annual compliance responsibilities so you can focus on running your business and we can take care of the rest.

With the right support and resources, your business can be set up within a few days. Our team of professionals is here to help you every step of the way. Take your business to the next level and apply for one of these Startup programmes based in Ireland. Many of our clients start their own business at the same time as having a full-time job.

Here's what you need to know. Remember Me. Lost Password. This site uses cookies for a better browsing experience. Find out more on how we use Cookies and how to disable them by visiting our cookie policy. If you're satisfed - do we have your consent? Follow these steps to ensure your company is set up correctly from the beginning. Learn what's involved with setting up a company in Ireland. Get Started Our client services team are always happy to talk to you about what's best for your needs Get Started.

Firstly, what is a Limited Company? How to set up a Limited Company in Ireland? We'll take you through the steps before incorporation and after. Have at least one director. Choose a company secretary. Have at least one shareholder.



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