The United Kingdom is set to leave the European Union at the end of March 2019. It is still not quite clear how that will affect businesses in the country, particularly those that export products and services to other European countries. That is why many companies have decided to play it safe and to move their offices elsewhere. One of the most preferred options among them is the Republic of Ireland. That is not solely because the country is an EU member state but also because:
- It is not far from the UK
- Local taxes for businesses are lower
- Some companies are entitled to tax breaks
- Operating costs are much more bearable
If you too are considering using low-cost office removals in London and take your business to the Emerald Isle, know that this may be a lengthy process but eventually, it may be worth it.
Do your homework
Before you commit to any decision, discuss the matter with Irish layers and accountants. See what kind of documents you will need and if the local legal and financial policies match your business needs. Asks experts for advice and some guidance to avoid any complications later.
Get in touch with the DFA
Right now, citizens of the United Kingdom do not need any formal permission to set up or move a business to Ireland. It is unclear, however, whether that will continue to be the case after Brexit. Therefore, you should either postpone your relocation until there is more information on that matter or contact the UK’s Department of Foreign Affairs and Trade (DFA). Hopefully, DFA official will be able to help you.
Register your business in Ireland
If everything seems ok and you have firmly decided to move your company to the Republic of Ireland, you will need to have it registered there. To do that, you will need to get in touch with the Companies Registration Office. Also, do not forget to dissolve your business in the UK. Otherwise, you may be forced to pay taxes in both these countries. Another piece of advice we have for you is to avoid registering your business as a subsidiary office to your UK company because you will still need to pay taxes to the Irish and British governments.
Come up with a moving plan
Start researching cities and locations in Ireland to see where it is best to set up your business. Would you like to base your office in Dublin or would you prefer to work in some smaller city in the country? Decide how much office space you will need and whether you will hire local talent or ask your current team to relocate. Estimate how much budget you have to organise your relocation and research the local market – competitors, clients, demand, best business practices in your field, etc. One can never be too prepared. So, do your digging, researching, planning and thinking and only then take the plunge and head off to Ireland. If you do not want to deal with any uncertainty, you can wait until the United Kingdom has officially left the EU.