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Contracting through UK limited company in Ireland

  • 06-06-2010 11:08pm
    #1
    jasnook
    Closed Accounts Posts: 1 ✭


    Hi,


    I am an IT contractor who contracts through a limited company registered in the UK. I have managed to get a contract in Ireland where the client will be paying me in Euros. It is a 6 month contract so I will not become resident in Ireland (i.e., under the 183 day limit).


    I am looking for advice as to the best way to set up my finances for this. What I really want to avoid is having money changed from Euros to Pounds Sterling and back again as this will be expensive so is it possible for a UK registered company to have a business account with an Irish bank? Is there another recommended route?


    Many thanks,
    Jacqui


Comments

  • #2
    Southsider1
    Closed Accounts Posts: 674 ✭✭✭Southsider1


    Yeah. Shouldn't be a problem. Maybe you should talk to Bank of Scotland.


  • #3
    onedmc
    Registered Users, Registered Users 2 Posts: 458 ✭✭onedmc


    jasnook wrote: »
    Hi,


    I am looking for advice as to the best way to set up my finances for this. What I really want to avoid is having money changed from Euros to Pounds Sterling and back again as this will be expensive so is it possible for a UK registered company to have a business account with an Irish bank? Is there another recommended route?


    Many thanks,
    Jacqui

    Of course a uk company can set up a Irish bank account or set up a euro account in a uk bank.

    I work for a uk company with no bank account in Ireland. They have a euro account in a uk bank. Transaction charges can be an issue.


  • #4
    AndyJB
    Closed Accounts Posts: 177 ✭✭AndyJB


    jasnook wrote: »
    Hi,


    I am an IT contractor who contracts through a limited company registered in the UK. I have managed to get a contract in Ireland where the client will be paying me in Euros. It is a 6 month contract so I will not become resident in Ireland (i.e., under the 183 day limit).


    I am looking for advice as to the best way to set up my finances for this. What I really want to avoid is having money changed from Euros to Pounds Sterling and back again as this will be expensive so is it possible for a UK registered company to have a business account with an Irish bank? Is there another recommended route?


    Many thanks,
    Jacqui

    Hi,
    I did this for sometime many years ago. Traded in the UK with a First Trust (AIB) in Northern Ireland. They had no banking fees at the time, where as AIB in London did. My branch organised a punts account for me as well. As the Euro is all over the place at the mo, a euro account will help you from getting hit with currency fees all the time. When it improves move cash in bulk.

    Made lodgements via AIB in Irl and UK. Worked fine.

    Best of luck.


  • #5
    philspector
    Closed Accounts Posts: 2 ✭philspector


    Hi Jasnook

    did you come up with a solution for this?

    Regards
    P.


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