Apologies if this has been covered somewhere else, but I've not found an answer.
My situation, my mother was born in Ireland and I have Irish citizenship. I'm 50 and plan to move to the west of Ireland in the next year or so (to do up a property for retirement whilst I'm healthy enough to do it). I doubt I'll be able to find work in my field so I'll do Knock to UK and work 2 day a week and the rest of the time WFH. This will be a normal job for a UK company. Obviously I'll have to do taxes in both countries etc. and the double taxation treaty sort out the issues. My NI will be paid in the UK.
Right to the question, I would like to build up a state pension in Ireland as a bit of insurance. I was thinking of setting up a company in Ireland and doing a bit of consultancy on top, I wouldn't be able to do much but I should be able to pull in the €5000 pa and pay the €500 in S class contributions for 5 years then do 5 years of voluntary contributions of €253 (current pricing). Obviously if I can get a job in Ireland, then great, but in the absence of a local job does this seem like a feasible plan to get the 520 minimum contributions? Or have missed something?
Thanks in advance.
My situation, my mother was born in Ireland and I have Irish citizenship. I'm 50 and plan to move to the west of Ireland in the next year or so (to do up a property for retirement whilst I'm healthy enough to do it). I doubt I'll be able to find work in my field so I'll do Knock to UK and work 2 day a week and the rest of the time WFH. This will be a normal job for a UK company. Obviously I'll have to do taxes in both countries etc. and the double taxation treaty sort out the issues. My NI will be paid in the UK.
Right to the question, I would like to build up a state pension in Ireland as a bit of insurance. I was thinking of setting up a company in Ireland and doing a bit of consultancy on top, I wouldn't be able to do much but I should be able to pull in the €5000 pa and pay the €500 in S class contributions for 5 years then do 5 years of voluntary contributions of €253 (current pricing). Obviously if I can get a job in Ireland, then great, but in the absence of a local job does this seem like a feasible plan to get the 520 minimum contributions? Or have missed something?
Thanks in advance.