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Company in Ireland, Business in Ireland

Registration of a sole trader lass about 7 days, of a company 14 days. Ireland attracts entrepreneurs with law taxes and support for new technologies. Formalities of a sole trader are simplified it requires only registration in the Inland Revenue Service and in Registration Service (CRO).

The most popular types of companies are public limited company and limited liability company. In first case the liability is limited to the sum of shares, in the second case- to the amount the shareholders declare to pay in case the company dissolves.

Companies registered in Ireland must have the balance sheet checked by the independent auditor. Small company can skip this duty, in case its sales does not exceed 317 000 Euro, and the balance sheet sum 1 904 thousand Euro, by the average employment of 50 employees. Before starting its activity a company must fulfill few conditions: register its structure, name, chose the accounting system, open a bank account, take care of insurance. One must also inform the Inland Revenue about the activity. Natural persons, whose sales will not exceed 127 thousand Euro, fill in the STR form. Beyond that sum: TR1. People wishing to open a company fill in the TR2 form. Forms are necessary i.a. to choose the income tax.


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