3 months to register business?

Amik

I'm helping a friend who has moved here from the EU to start up a small business (he wants to be self-employed).

Is it true that he does not have to register as self-employed immediately but anytime within 3 months? I'm assuming if he registers 3 months from now he'll have to pay social insurance/tax for those 3 months.

I talked with the CRO and the guy on the phone wasn't too helpful. :P He did say my friend does not necessarily have to register a name, he can operate under his own name.

dbran

Hi

He should register immediately with the revenue as a sole trader.

If he is going to trade inn any capacity other then under his own name then he needs to register a business name with the CRO. He will also need to show this business name to a bank if he is going to open up a bank account in that business name.

Hope this helps

dbran

Amik

Thanks for the info!

But can he register now and say the business has been operating for 3 months already and pay the social insurance for that time? He'd rather pay for the 3 months he's been unemployed (not receiving benefits) than have a 3 month gap between this new self employment and his previous job.