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Starting a Business in Ireland

starting a business in ireland

So you're starting a new Business in Ireland? Perhaps opening a new shop? There's a couple of things you need to know before you start!

Are you going to open it in the City Center? Then make sure you read this!

In any case, here's what you need to know.

1. Currently Unemployed

If you're currently unemployed, the following are important for you:start a business in ireland

Back to Work Enterprise Allowance (BTWEA)

The Back to Work Enterprise Allowance (BTWEA) scheme encourages people getting certain social welfare payments to become self-employed. If you take part in the Back to Work Enterprise Allowance scheme you can keep a percentage of your social welfare payment for up to 2 years.

Short-Term Enterprise Allowance

A new Back to Work Scheme called the Short-Term Enterprise Allowance started in May 2009. There is no qualifying period for the Short-Term Enterprise Allowance. You can get immediate access to the allowance if you meet the qualifying conditions.

 

Start your own Business Relief

If you have been unemployed for at least 12 months and set up a qualifying business, the Start Your Own Business scheme provides an exemption from income tax up to a maximum of €40,000 per annum for a period of 2 years.

Start Your Own Business Relief only applies to income tax payable on the profits from your business. It does not extend to PRSI and Universal Social Charge (USC) so you will be liable to pay PRSI and USC on any profits earned in your new business. The Start Your Own Business scheme runs from 25 October 2013 to 31 December 2016.

2. Business Planning

Wether you're currently unemployed or not, this will help you!

starting a business in ireland

Local Enterprise Office

Local Enterprise Office is the new name for the County and City Enterprise Boards.

The Local Enterprise Office is a new national resource, staffed with professional people with business training, to assist budding entrepreneurs and existing businesses in every county in Ireland.

For 2014, LEOs have in excess of €18m in capital funding for supporting micro enterprises – of this €3.5m will support new services, with a focus on young entrepreneurs (under 30s).

The new Local Enterprise Offices will have more staff as they are joined by Local Authority staff and newly qualified graduates recruited to help local businesses.

www.localenterprise.ie is the new client-focused website providing information about all national and local supports and events for local business.

New Frontiers

New Frontiers is Enterprise Ireland’s national entrepreneur development programme for innovative, early-stage startups. It is a three-phased programme, based in 14 campus incubation centres across the country. Each year, New Frontiers funds 150 companies.

If you believe that you are capable of building a sustainable new business, trading internationally, creating employment and generating revenue in your locality, act now and apply for a place on Ireland's largest entrepreneur development programme.

Foreign nationals

European Union, European Economic Area and Switzerland nationals

starting a business in irelandIf you are a national of the European Union (EU), of one of the other EEA countries (Iceland, Liechtenstein, Norway) or of Switzerland, you have the right to stay in Ireland, and your family members have the right to stay here also. There are some limits to this right, however.

You can stay in Ireland for up to 3 months without restriction. If you plan to stay more than 3 months, you must either:

  • Be engaged in economic activity (employed or self employed) or
  • Have sufficient resources and sickness insurance to ensure that you do not become a burden on the social services of Ireland or
  • Be enrolled as a student or vocational trainee or
  • Be a family member of a Union citizen in one of the previous categories.

No special permission is needed to start a business if you're a EU, EEA or Switzerland citizen.

Non EU, EEA or Switzerland nationals

Generally, non-EEA nationals must get permission from the Minister for Justice and Equality in order to start a business in Ireland. Here are other certain schemes you could apply for.

Inmigrant Investor Programme

The Immigrant Investor Programme is open to non-EEA nationals and their families who commit to an approved investment in Ireland. Approved participants in the Programme and their immediate family members will be granted rights of residence in Ireland which will allow them to enter the State on multi-entry visas and to remain here for a defined period but with the possibility of ongoing renewal. The Programme will facilitate participants, over time, in establishing a permanent relationship with Ireland.

Start-up Entrepreneur Programme

The purpose of the Start-up Entrepreneur Programme is to enable non-EEA nationals and their families who commit to a high potential start up business in Ireland to acquire a secure residency status in Ireland. The Programme was established by the Irish Government in 2012 to stimulate productive investment in Ireland and to offer residency in Ireland with its associated advantages to dynamic business professionals with a proven record of success.

For more information go to Citizens Information.

Now that you have an understanding on the legal terms, why don't you learn about how to deliver a great experience to your customers?

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