Advice on creating international e-business

Lehmann

Hello everyone,
I’m a European citizen who moved to live in Ireland recently.
I’m planning to create a freelance website (international), where people will join, work on projects and sell them to other members; my website will make money through transactions’ fees between members. So, my site will be about offering a service, not selling any product.
1- Should I buy a domain name with the extension .com, .ie, or both?
2- Should I opt for an Irish hosting company? Or it doesn’t matter at all?
3- Since I need to register in Ireland as a business, what kind of business to choose (sole trader?), I’m not sure what to do…
4- At what level of business profit will I be required to pay the VAT?
5- Is there any course or information explaining how to pay taxes when you own a website and become self-employed?
6- Do I need to know about any laws regarding taxation; I see American websites ask members to fill tax forms, is that needed when I’m based in Ireland and running my site from this country?
7- What is the best bank to open a business account with?
Thank you.

The Apprentice

1. Both - Its easily copied and its only €15 Extra per year, im sure you can cover that.
2. It does and it doesnt, you can set your geographic location in google webmaster tools, but i would advise you go ireland - it will help your seo (may be speed issues coming from other countries)
3. I would not worry about this for at least 3-4 months until your actually making money then it becomes a sole trader issue i think.
4. Turnover i think it is - 70k if im not mistaken. The level to pay vat is after you make €1 :P after net profit. So net profit minus your vat = gross profit. Just spend it on first year improvements i would suggest than giving it to the vat man, you,ll have plenty of time to give it back if this is successfull .. !!
5. I own lots and so do several other people, unless your making decent revenue it is something i wouldnt consider - Again, make some money then come and ask this question. Revenue.ie to answer your question has the detailed info on this.
6. Revenue.ie again regarding the laws - Tax forms dont mean diddly here..
7. Hmm i would steer clean of boi and Aib, but everyone has scary stories. Im hearing ulster bank lately (snigger) are decent enough to start ups but my opinion is subjective to what ive seen and read on forums. So still shop around bud


Best of luck with your venture either way, if you need any more help dont hesitate to ask !

Lehmann

Hi "The Apprentice",
Many thanks for all the info and advices.

What are the best web hosting companies in Ireland?
Yes, I can buy .com and .ie if that's wise thing to do. Should I get .biz or .info or other extensions? When I first was checking if my domain name was available on godaddy, I was given a list of extensions with an offer to buy many at a low price. Would that be a waste of money?

I'll get in touch with you if I need further help. You seem to have good knowledge on websites and online businesses.

Thanks a millionnnnn!

The Apprentice

Ye no Prob buddy any time

Blacknight is one good one, im not sure on rest (Again my opinion is subjective, but still shop around)

Firstly don't search for Domains on Godaddy, they temporarily register the domains you searched for so no body else can purchase them under your nose and have been known to pre purchase knowing that some people always come back to purchase after doing research. They charge extra or a premium i have found - Use another provider like name cheap or even black knights domain search .. ANY in fact .. just not godaddys..


To be fair at the current moment, .com or .ie will keep you covered for now i think, doing many ****ty variations will only cost you €10 a pop and there are literally hundreds because of hyphens and extra letters, i just wouldn't bother.

Concentrate on those 2 domains and your core business and down the line when your as big as bill gates you can send millions of cease and desist letters to all those hyphen stealing domain re sellers..

I work for a digital marketing company that do this all day long - Website - Seo jazz, we talk shop like this all month long, buddy you can contact away, i would love if you kept in on post do because it gives others a chance not only to learn from me and my limited knowledge but others than give input too. Which is probably why we love boards - Fulfillment of knowledge and all that :P

Crush on buddy.. cheers !!

DubTony

Lehmann wrote: »

Hello everyone,
I’m a European citizen who moved to live in Ireland recently.
I’m planning to create a freelance website (international), where people will join, work on projects and sell them to other members; my website will make money through transactions’ fees between members. So, my site will be about offering a service, not selling any product.
1- Should I buy a domain name with the extension .com, .ie, or both?
2- Should I opt for an Irish hosting company? Or it doesn’t matter at all?
3- Since I need to register in Ireland as a business, what kind of business to choose (sole trader?), I’m not sure what to do…

Simply put, a sole trader is ultimately responsible for all aspects of his business in a way that a company director may not be. Registering a company offers some protection against being sued by disgruntled customers, and your dealings with authorities are slightly different as well. Taxes on profits are less, although taxes on salary are the same. You should speak to an accountant about the differences.

4- At what level of business profit will I be required to pay the VAT?

VAT has nothing to do with profit. It's based on turnover and depends on what type of business you operate.
Service businesses typically have to pay vat on less turnover than those actually supplying goods. http://www.revenue.ie/en/tax/vat/registration/index.html#reg3
Looking at your business model, I don't know at what threshold you would have to register. See an accountant.


5- Is there any course or information explaining how to pay taxes when you own a website and become self-employed?

All the info you need is available on http://www.revenue.ie

6- Do I need to know about any laws regarding taxation; I see American websites ask members to fill tax forms, is that needed when I’m based in Ireland and running my site from this country?

Amazingly, the land of the free has a lot more regulations when it comes to starting a business than this country does. You can set up pretty much any business overnight without interference from the state.

7- What is the best bank to open a business account with?
Thank you.

Your definitely need to speak to an accountant. He or she will be able to guide you in all the tax affairs, and whether or not you should set up a company.

Lehmann

Hello!

You made me love this forum! haha!
Thank you so muchhhhhhhhhhhh!

I didn't know that stuff about godaddy; goshhh. :eek: Precious info!
I will of course ask any questions if I need further help.
It's great to have people here that are willing to share their experience and ideas.

Will keep in touch.
Cheersssssssssssssssssssss!

Lehmann

Hi DubTony,
Thanks a lot for the additional info!