Business Operating Abroad

BlackEdelweiss

I asked this question on another thread and someone advised me to ask an accountant about the tax implications for working in Ireland and having a foreign based business. Any advice would be greatly appreciated.

I want to set up a consulting business that will work exclusively in the Southern Hemisphere. I will be living in Ireland and can do the work online. Where would my company have to be registered and where would I be paying tax? If I set it up in the other country does this affect my tax in Ireland? Is there anything I should be aware of by doing this? I will continue to work in Ireland as well but not under this company.

Jim2007

BlackEdelweiss wrote: »

I asked this question on another thread and someone advised me to ask an accountant about the tax implications for working in Ireland and having a foreign based business.

Good advice, take it up.

thegolfer

Better off talking to a tax consultant

BlackEdelweiss

I'm just looking for a bit of general advice here not a full financial rundown on how to do everything. I just want to know if it is feasible, legal etc. If I decide to go ahead with it I would obviously secure the services of an accountant or who ever would be best placed to help at the time.

thegolfer

BlackEdelweiss wrote: »

I asked this question on another thread and someone advised me to ask an accountant about the tax implications for working in Ireland and having a foreign based business. Any advice would be greatly appreciated.

I want to set up a consulting business that will work exclusively in the Southern Hemisphere. I will be living in Ireland and can do the work online. Where would my company have to be registered and where would I be paying tax? If I set it up in the other country does this affect my tax in Ireland? Is there anything I should be aware of by doing this? I will continue to work in Ireland as well but not under this company.

Company registered in Ireland would be resident her for tax purposes, however depending on the services provided, you would have to consider a permanent establishment analysis, to determine if the company had an establishment in the foreign jurisdiction.

If so then it could be trading as a branch in the foreign jurisdiction, however with the recent multi lateral instrument signed under the oecd beps project the threshold for a PE may be lowered.

VAT is a consideration, with the place if supply rules coming into operation, most likely outside the scope of vat, supplies would be exempt, thus an analysis of your recovery rate for inputs is required.

You would be Irish tax resident here, drawing a salary from the company, taxed through paye.

Are you taking on employees, premises etc.

BlackEdelweiss

I was thinking of registering it in the country where the work would be based. I lived abroad for a number of years and was just considering setting up a company there, doing what I did when I lived there. It would be completely online, no staff, no premises. Just consulting.

I dont know if I have to register in Ireland as I am now living here or does it concern my situation here if it is registered abroad.

If it is too complex then I probably wont go any further with it but if there is a possibility it could be done then I may go further with it.

Thanks for your advice thegolfer but most of it went over my head, I know how to do what I do but know nothing about setting up a business either here or the other side of the world.