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Offshoring 101

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  • 21-02-2014 2:32am
    #1
    stainluss
    Registered Users Posts: 864 ✭✭✭


    Is it legal to set up an offshore (e.g. Cayman/Singaporean/Swiss) holding company/bank accounts and act as a foreign company operating in Ireland for tax purposes?

    If it is legal - is it generally cost effective when factoring in forex/admin rates if a company were to have E50k-E100k in revenues?

    The answer is probably really obvious but I'm a total greenhorn to this and couldn't find anything on Boards through searching! Any and all help appreciated.

    EDIT: I'm an Irish national but not domiciled there.
    Tagged:


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    #2
    barneystinson
    Registered Users Posts: 4,683 ✭✭✭barneystinson


    stainluss wrote: »
    Is it legal to set up an offshore (e.g. Cayman/Singaporean/Swiss) holding company/bank accounts and act as a foreign company operating in Ireland for tax purposes?

    If it is legal - is it generally cost effective when factoring in forex/admin rates if a company were to have E50k-E100k in revenues?

    The answer is probably really obvious but I'm a total greenhorn to this and couldn't find anything on Boards through searching! Any and all help appreciated.

    EDIT: I'm an Irish national but not domiciled there.

    Of course it's legal, plenty of foreign companies operate here - just be sure you don't mix up having a foreign registered company for having a company that magically isn't tax resident/owing any taxes here... ;)


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    #3
    stainluss
    Registered Users Posts: 864 ✭✭✭stainluss


    barneystinson wrote: »
    Of course it's legal, plenty of foreign companies operate here - just be sure you don't mix up having a foreign registered company for having a company that magically isn't tax resident/owing any taxes here... ;)

    What's the difference? Lets say a company did 100% of its business in Ireland but is registered (magically or not haha) in another country..


  • Options
    #4
    Mr. Incognito
    Registered Users Posts: 9,798 ✭✭✭Mr. Incognito


    This is structured tax advice and this is not appropriate for this forum

    Thread closed.


  • Options
    #5
    stainluss
    Registered Users Posts: 864 ✭✭✭stainluss


    Snip!


This discussion has been closed.
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