Creating an Irish company when living abroad?

UFC

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Hi all

I currently live in China but would like to create a new Irish company.

It would be an online company, so it doesn't require an office in Ireland, but I'd like it to be legally registered in Ireland.

Any employees, etc., would be in China.

Is this possible? If so, can I do it all while remaining in China, or do I have to come to Ireland to sign a document or something like that?

Thanks for any advice.
 
Yes there is plenty of form filling but if you use a specialised company set-up
business, I believe it can all be handled from a distance through mail/courier.

The only flaw in the plan may be that you are required to have one director who is resident in the EEA area. Failing that you may be required to put up a bond.

By the way, just because a company is incorporated in Ireland doesn't mean it will be tax resident in Ireland. In fact the way you are decribing it would indicate that its tax residency may be in China
 
Thank you for your reply.

I know this is an internet forum so I will get official advice from an accountant, etc., but could you please elaborate on what you mean by tax residency being in China.

If I understand correctly you are saying if the income comes to my Irish business bank account, I would have to pay all taxes in China (as I am resident there), or I would still have to pay some taxes in Ireland (e.g. corporation tax?) and some in China (e.g. income tax if I am paying myself a wage?).

Thank you.
 
Corporation tax residency is a very complicated topic and you will need to get good advice on it.

In very broad terms tax residency for a company is dependant on where the company is controlled from and the residency of its directors.

In my simple understanding, a company incorporated in Ireland but controlled from China and having its directors living in China will be assessed to taxes in China.Please note that I am talking about corporation tax only.

If you take money out of the company and pay it as income to yourself then most likely the income will also be assessed to Chinese income tax especially if you are resident there for most of the year.

If you can tell us what your motivation is for setting up an Irish company in particular, people may be able to advise you better.
 
Thank you for your reply.

My motivation for setting up an Irish company is non-Chinese are not allowed own companies in China. So my options are open a HK company (or similar) or an Irish company.

As I will be doing all business in the US, I prefer to have an Irish company as in general they are seen as less shady than say a HK company.

Also, I'm Irish.
 
As someone has already mentioned, you need to ensure the company is managed from Ireland. Have you a friend/family member who will act as a non-executive director for you? I would recommend this if possible.
 
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