clients account

M

micksclly

Guest
Hi Their.

I have started a business selling property in Hungary/Poland and Bulgaria to Irish clients and I am wondering about the money clients pay too me into my client account in the bank ? which I send on to these countries as deposits/payment for properties - is their regulations to be met with this kind of business as regards the clients money/accounts and do my company have to register with a state body (like IFSRA e.g.) to receive clearance or a cert to carry out this task?.

My bank has given me a client account as well as the company account, the bank only asked a question about where the money was going from the client account and that was it.

Please some one send me on the right track, as I want to have every thing right for the clients and my company



Thanks

Mick
 
Hi Mick - Are you a member of any professional association, e.g. IPAV, IAPI etc? Do you have an accountant for your business that you can discuss this with?
 
Hi Mick
Under the Auctioneers & House Agents Acts, you need an auctioneer's licence to open or operate such a business.
 
If selling property in ireland, but is it nessasary for selling property outside the state?
 
Yes it is. At least there is nothing in the legislation that excludes foreign property from the relevant definitions in the Auctioneers & House Agents Acts.
 
so what is the botton line, I asked lawyer and he said I dont need a Auctioneers licences to sell over seas property and also I contacted IFRA and was told their was not law covering overseas sales.
 
I suggest you get both opinions in writing.

By the way, IFSRA are not responsible for the regulation and administration of auctioneers licences. These matters are dealt with by the District Courts.
 
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