3 ms·

> If any non-EU companies know a cheaper way to process transactions in the EU, I'm all ears... Depending on your volume, it's really not expensive to setup a

by m11a 6y ago

> If any non-EU companies know a cheaper way to process transactions in the EU, I'm all ears... Depending on your volume, it's really not expensive to setup a legal entity in the UK. Since UK is leaving (unsure if EU financial access will continue) Ireland is a good alternative. A UK company costs < £100/yr to maintain. Depending on your volume, it may be worth exploring with your lawyer/accountant. Perhaps there's merchant-of-record services too, that are incorporated in the EU and I believe legally act as an agent to sell your product.

ttoinou 6y ago
A UK company costs < £100/yr to maintain Accounting included ?
- m11a 6y ago
  No. But you don't necessarily need an accountant in the UK. Off the top of my head, the Companies House filing fee of around £15/yr, an address for the company (around £50/yr) are all you require to hold a UK company. For a tech company that uses Xero and feeds in invoices programmatically filing the statutory returns by an accountant might cost £1000/yr (or 0 if you wish to DIY, the UK's HMRC makes self-filing easy unlike the IRS). Plus £360/yr for Xero (free accounting software probably won't cut it). VAT returns and PAYE returns are pretty easy to self-file; Xero does them automatically and HMRC provides free software for it. The annual statutory accounts are more difficult, and you probably want an accountant. Rough figures: if you want to be cheap, use Xero discounts and DIY, it's around £500/yr. With an accountant, but you still doing some of the work, perhaps £1500/yr.
dx034 6y ago
In pretty much every country you need a director or similar who's a resident of that country. There are agencies doing that for you but that's not cheap and not without risk. Running a company without residence is usually not worth it for small companies.

3 ms·

> If any non-EU companies know a cheaper way to process transactions in the EU, I'm all ears... Depending on your volume, it's really not expensive to setup a

by m11a 6y ago

ttoinou 6y ago
A UK company costs < £100/yr to maintain Accounting included ?
- m11a 6y ago
  No. But you don't necessarily need an accountant in the UK. Off the top of my head, the Companies House filing fee of around £15/yr, an address for the company (around £50/yr) are all you require to hold a UK company. For a tech company that uses Xero and feeds in invoices programmatically filing the statutory returns by an accountant might cost £1000/yr (or 0 if you wish to DIY, the UK's HMRC makes self-filing easy unlike the IRS). Plus £360/yr for Xero (free accounting software probably won't cut it). VAT returns and PAYE returns are pretty easy to self-file; Xero does them automatically and HMRC provides free software for it. The annual statutory accounts are more difficult, and you probably want an accountant. Rough figures: if you want to be cheap, use Xero discounts and DIY, it's around £500/yr. With an accountant, but you still doing some of the work, perhaps £1500/yr.
dx034 6y ago
In pretty much every country you need a director or similar who's a resident of that country. There are agencies doing that for you but that's not cheap and not without risk. Running a company without residence is usually not worth it for small companies.