Below is the step-by-step process to set up a business in Ireland:
Company registration: You must first decide if you are registering as a company, partnership or sole trader. Registering as a sole trader implies that the business is wholly in your hands. You are the decision-maker and this option is good if you intend to trade as a small business.
Registering as a limited company or partnership is recommended if your innovation has much larger potential.
Business name: The name of the business must be registered with the CRO within 30 days of adopting it after the company has been registered.
Accountants: You are more than likely of already having availed the professional services of an accountant if you used a tax agent. However, if you did it alone, then you must look for an Accountant immediately.
Legal advice: Obviously, legal advice is a crucial aspect of trademarks and patents. You may have to get in touch with a specialist firm that takes care of the intellectual property.
Office space: It is not necessary to own or rent an office space. It is possible to do this however in a comparatively low cost if you are a Start-up seeking to leave the isolation of a home office or relocate from the kitchen table.
Staff: You can register yourself as an employer after you have been offered a tax reference number and have registered your business. Then it is time to research employers’ liability insurance, book-keepers, and payroll software. It will depend on the number of staff you intend to employ and how good you are at book-keeping.