Even though we celebrated St. Patrick’s Day a couple weeks ago, we thought we’d continue the theme by taking a look at how you might move your business to Ireland. Many business owners have made a similar move – whether it was to relocate the entire company or simply open a new branch. Either way, Ireland is one of the best countries to actually own a business. Most companies move to Ireland to save on taxes – in some cases by up to 66%!
If you’ve decided to relocate your business to Ireland, get ready for some legal paperwork, some of which you can file yourself. However, as with any serious business decision, you may want to consult your corporate attorney first. We’ve put together a list of guidelines that will help you move your business to Ireland in no time.
One of the first things you will need to do is notify the Revenue Commissioner’s office through your local tax office. You will need to inform them that you are moving your business to Ireland. When you make this notification, they will require a variety of information to properly register your business for tax purposes.
The tax office will ask that you complete a tax form. The type of form you fill out will depend entirely on the type of business you have – is it a sole trader, a limited liability company, or a partnership? Once you’ve submitted the form, a Revenue official will make an appointment with you to go over everything and confirm that you meet the requirements to move your business.
Before you open your corporate doors in Ireland, you will also need to file your registration with the Companies Registration Office. You can do this easily online through the registrar’s website. This is also a good time to register your company name at the Registrar of Business Names.
At this point, if not earlier, you should be discussing your company move with an Irish attorney. Before you can move the company, you do need to make sure that the business meets all requirements for standard in quality. Such standards in Ireland include the ISO 9000, the ISO 14000, the Triple Hygiene Mark, the Hygiene Mark Certification, and the Q-Mark. You may be required to meet all or some of these standards. Your Irish attorney can help you obtain the certification you need.
When you speak with your attorney, it is also a good time to discuss the necessary license and permits that you may be required to hold. Check out all the regulatory compliance issues before you move your company. And if you have employees, you’ll need to be aware of all the safety and health requirements in Ireland.
Finally, before you actually move your business to the country, contact the Minister for Justice Equality and Law Reform to obtain documented permission to conduct business operations in Ireland. Such permission will grant you an established period of time, usually one year to start with. This is another factor your attorney can help you with.
Remember, moving a business is hard work. Moving a company to another country is even more involved! Though this post is a good start, we suggest you do additional research on the matter before moving.
Jon Huser
