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Setting Up Business Advice

  • 26-01-2010 8:04pm
    #1
    Dantes
    Registered Users, Registered Users 2 Posts: 109 ✭✭


    Hi,

    I'm looking at setting up a small business, most likely as a sole trader. I'm a software developer who will be taking on contract work and possibly developing some of my own applications. I'm interested in working remotely from places like Thailand, Laos or even closer to home in France or Spain.

    Does anyone have any recommendations on this?

    Is it better to set the company up abroad where ever I end up, or is it best to have the company here in Ireland?

    Is there any problem with me working abroad for my own Irish company? Perhaps Residency status?

    Any help or advice at all is appreciated. Apologies if this is not the correct forum...

    Thanks in advance,
    -Dantes


Comments

  • #2
    billythefish1
    Closed Accounts Posts: 8 ✭billythefish1


    If you go to http://www.revenue.ie/en/personal/circumstances/moving/tax-residence.html, and scroll to the bottom of the page, there is a pdf document which you can download which has a lot of info about working abroad.

    If you were working in e.g. Thailand through an Irish company, your income would be taxed in Ireland through the Paye system and then subject to tax in Thailand. If there is a double taxation agreement between the countries, then you would effectively pay the higher of the two tax rates. Though there isn't currently a tax agreement with Thailand. The list is here.... http://www.revenue.ie/en/practitioner/law/tax-treaties.html


  • #3
    Dantes
    Registered Users, Registered Users 2 Posts: 109 ✭✭Dantes


    Thanks for all that! Probably best to setup a company in which ever country offers the lowest tax rate it seems, as long as there is no double taxation agreement. I'll get reading that now.


  • #4
    Darius01
    Closed Accounts Posts: 1 ✭Darius01


    I think taking the help of a good business consultant may help you to give a strong foundation to your business and that will ultimately improve the future prospects of your business. So, getting a help online could prove to be of great benefit for you and these business consultants are easily available online to help you.


  • #5
    CompanyBureau
    Registered Users, Registered Users 2 Posts: 93 ✭✭CompanyBureau


    Hi Dantes, it really depends on what level of fees you are earning. A lot of high end IT contractors have companies registered in Cyprus, as the corporate tax is only 10%. Also you engage nominees so the company is tax resident there (this is a key issue for most jurisdictions) If you want more info just pm me. Another option is an umbrella company scheme. Good luck!


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