A sole trader or sole proprietorship is registered in the name of the person who owns the entity and is one of the most straightforward and easy-to-understand business types in Ireland. This form of business has turned out to be well-liked and is very prevalent in Ireland, owing to an increasing number of people who are fascinated by the idea of being their own bosses instead of being an employee in someone else’s entity. The sole proprietorship has no legal separation from the owner.
The Irish jurisdiction does not impose any restrictions on buying property in Ireland. Therefore, the doors are open for all nationalities who want to own a piece of property in Ireland. It is important to note that anyone can own a property in Ireland, both EU and non-EU citizens, however owning a property doesn’t necessarily grant you permission to reside in Ireland. In order to live in Ireland, you will have to have the necessary documents needed by the Irish jurisdiction.
Over the last decades, Ireland has managed to transition from being one of the most economically backward European nations to become one of the leading countries in the European Union. The secret to Ireland’s great economic progress is its low tax rates and partnership jurisdictions which are in favour of foreign business entities.