Hi,
Not sure as to whether this should be in Aab or here, so mods please move as you see fit.
Just wondering which type of business would be best for a group of people planning to pool money for an investment fund?
There will be approximately 4 of us (thinking about making it 5 for voting purposes) and our original idea was to set up a limited company. However, the father of one of those participating suggested we enter as a partnership, "to avoid paying tax twice".
Is this correct? Would a partnership not be subjected to the same taxes as an individual,s opposed to the 12.5% available to companies?
Are there L.L.P.'s in Ireland or do they have unlimited liability? Must they file tax returns? Must the partnership be by name of those involved (i.e. Smith & Murphy) or could it be Invotech for example?
Regards,
jbax.