Virtual Office in Ireland
Virtual Office in IrelandUpdated on Tuesday 21st September 2021
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Foreign investors interested in having a business presence on the Irish market can now choose the services provided by a virtual office in this country. A company from abroad, interested in opening a business in Ireland, can opt for a virtual office, which is a physical office, equipped with the necessary tools needed for business communication.
A virtual office is equipped with modern means of communication, which are useful especially when developing a remote business, and it also provides a reputable business address. By choosing this type of office, an entrepreneur won't have the same costs as in the case of a classic office, related to utilities, equipment, rent and taxes. Our team of attorneys in Ireland can provide you with several virtual office services.
Virtual office services in Ireland
When opening a business in Ireland that operates through a virtual office located in an Irish city, an investor should ask for the professional advice of an Irish law firm, which can provide you with a virtual office package that incorporates a set of services useful when operating a company, as follows:
- a local phone number for inbound and outbound calling, available for any city the client is interested to set his or her operations;
- a registered office in a reputable area of an Irish city, indispensable when opening a company in Ireland;
- a well-recognized business address in Ireland, that can be used for postal and email services;
- personalized voicemail services – in accordance with the client’s needs and business profile;
- collecting and forwarding mail - this will be sent to our clients according to their preferences (mail, e-mail or fax);
- incoming and outgoing fax services – our clients can use our fax services for immediate collection of documents.
If you are interested in all the services that can be provided by a virtual office, our Irish lawyers will present to you a personalized list of facilities, tailored in accordance to your business needs, as they may vary depending on the specific activities developed by the respective company.
The separate services of a team of accountants in Ireland can be requested from a team of specialists.
The following video offers a short presentation on the virtual office in Ireland:
Our law firm in Ireland can assist clients in choosing the services of a virtual office established in Dublin, but also in other parts of the country. When you decide to open a company in Ireland, our local lawyers can assist with in-depth advice on the registration procedure and may offer legal representation for incorporating a business in Limerick or Cork, other two main business destinations in this country.
The space designed for a virtual office in Ireland is equipped with all the necessary communication tools – internet services, printing and photocopying machines, business telephones, meeting rooms and other types of facilities. Our Irish law firm can provide other services, if your company may need them.
The main advantages of opening a virtual office in Ireland
When opting for the services of a virtual office in Ireland, a businessman can benefit from a set of advantages, which are not applicable to a traditional business office. For example, when working through a virtual office, the productivity of the company will increase, due to the fact that the company’s employees will no longer have to spend time on the commute.
The virtual office is a suitable option for the investors and the employees who are considering working in a more flexible manner. This has also positive effects on the retention rate of the employees and it decreases the number of leaves requested by the company’s employees.
A virtual office also offers a good location where investors can meet with their business clients or with the employees and this offers a professional image of the company operating on the Irish market. This option is highly recommended for investors who have set up a start-up business, as a part of the company’s capital can be invested in other strategic sectors, as opposed to starting a company through a traditional office, where relevant investments are related to the company’s office. When choosing the virtual office, the investor will only pay for the selected services.
Irish virtual office FAQ
Entrepreneurs who wish to open a company in Ireland can choose to work via a virtual office from the very beginning or, alternatively, they can opt for this type of office even after the company is incorporated and has been running from a traditional, rented office space for a number of years.
In 2021, following the lockdowns that were in place globally, more businesses have adopted a hybrid work model, meaning that their employees are permitted to work remote for a number of days a week. In this context, the virtual office demand can increase as many more companies are looking for alternatives to the traditional office space, especially if they have already determined that the mixed or hybrid work model suits their business needs (exemplified herein is the situation in which the team or part thereof of only required to come to the office for two or three days per week, and work remote for the remainder of the workdays).
Are you looking to transition to a virtual office? Here are a number of commonly asked questions, answered by our team of lawyers in Ireland. Please reach out to our specialists if you have additional questions or need more detailed answers.
What companies can have a virtual office?
Virtual office services can be tailored to fit the needs of many types of companies, small, medium and, in some cases, even large ones. The industry in which the company activates is an important factor in deciding whether or not this solution is a suitable one, however, even for those companies involved in production (when maintaining a factory is mandatory, for example), the virtual office can serve for the part of their team that is involved in human resources or customer services, for example.
E-commerce businesses, consultants, freelance accountants, photographers, designers, and many more freelancers and professionals can benefit from working from a virtual office.
What are the payment plans like for the virtual office?
The payment plans differ widely, as virtual office services providers include different options in their packages and they can also set different tariffs depending on the city or the location in which the office building is located. However, in most cases, clients are offered flexible online payment options that are easily completed and processed.
Do I need to change the company documents?
Yes. If you plan to relocate to a virtual office and use it as the registered address for your company, you will need to report this to the Companies Registration Office. According to the Irish company incorporation rules, every company is required to provide updated and accurate information on the situation of its registered office, which must be based in the country. When the registered office is changes, this is notified via a special form within 14 days of the said change.
You do not, however, need to use the virtual office as your registered office. The registered office is the one used for official correspondence, court papers and other documents. It does not need to be the location from which the business is managed or where employees work. This means that you can easily transition to a virtual office without the need to alter the official company particulars (the registered office address can remain unchanged).
Can you help me transition to a virtual office?
Yes. Our team of lawyers in Ireland can assist you throughout the entire process. In fact, you can represent you in front of the Irish authorities (for submitting the change in company particulars, as needed) and in front of other services providers through a power of attorney. When using this legal instrument, one of our specialists will act in your name, with limited powers, only for the duration of the virtual office setup. Once this process is complete, he or she will no longer have signatory rights in your name. This means that while one of our experts handles the office change, you can continue to run your business and focus on what matters most.
Business costs in Ireland
According to 2017 data made available by the Central Statistics Office, the business costs in Ireland were the following:
- Personnel costs: for small and medium enterprises these were 36,522 million euros;
- Employee salaries: for small and medium companies, the average expenditure on employee wages and salaries was 30,512 euros per employee per year;
- Social security costs: 9.1% (the percentage calculated out of the total personnel costs per year).
The virtual office can be a good option for company owners who are looking for alternatives to reduce some of their costs. Even if the personnel expenses are the most significant ones, you can benefit from having a virtual office as you will likely cut the costs required to rent an office space permanently.
We advise you to contact our law firm in Ireland for assistance on the services of a virtual office. Our Irish lawyers will put at your disposal all the necessary details for the process of purchasing this types of services and can assist with information on the main documents that are to be completed in this case.