A small business in Ireland with no more than five employees and a €1,200 annual turnover can make a huge profit when it is granted a visa to stay in the UK.
A UK-based company, which has been granted a permanent visa to the UK, has been given a visa by the Irish government to operate as a business in Dublin.
The business, called The WindyVise, is an online platform that enables people to pay for and access goods and services in an online shop, from hotel accommodation to cars and clothing.
“We have a small staff, so we’ve been able to make a small profit,” said The Windys’ chief executive, John Larkin, as he announced the business’s arrival in the Irish capital.
“I think we are in a position where we can afford to take a long-term investment in this business.”
The Windys operates a virtual shop in Ireland, and Larkin said that the UK-Ireland business is a first.
“The UK is a very competitive market and we’ve had a few problems here, but they’re not really as big as they are in Ireland,” he said.
“So it’s a very attractive opportunity.”
The company’s main selling point is the UK’s low VAT rate of 18%.
Larkin and his staff have paid an average of £50 in VAT for their business, he said, adding that the company also pays its suppliers and staff.
“It’s a really low-cost option for them to do their business.
I’ve been really pleased with the outcome.
It’s just been the right opportunity for us,” he added.
The company has now opened its doors in Dublin and plans to continue to operate there, and plans on expanding to other countries, including the UK and Australia.
Larkin said it was important to highlight the importance of the UK market in the development of new businesses, saying that the Irish market has been growing by about 10 per cent a year over the last three years.
“There are so many people who are looking to come to Ireland and I think the UK is an attractive place to do business.
It is a really cheap market,” he explained.