S
serge
Guest
Hi,
I've recently started a new company. I didn't want to open a business account with an Irish bank, since that would leave me with few prospects for raising money, working capital etc. Instead I opened an account with Unicredit Bank in Prague - very simple to do - all done in one day during a visit to Prague. They offer me all the usual business services at a reasonable cost.
The only trouble was when tried to register for VAT, I supplied my bank details to the Revenue Commissioners, for the purpose of VAT refunds. They got back to me saying that I had to have an Irish bank account. I asked them for proof - If my accountant is happy to do provide an audit with my main business account being in Prague, what is the problem? Why would I want to saddle my new company with a zombie bank?
Any thoughts on this would be gratefully received. Is the Revenue correct, or do they just want to make life easy for themselves? What is the law here?
I've recently started a new company. I didn't want to open a business account with an Irish bank, since that would leave me with few prospects for raising money, working capital etc. Instead I opened an account with Unicredit Bank in Prague - very simple to do - all done in one day during a visit to Prague. They offer me all the usual business services at a reasonable cost.
The only trouble was when tried to register for VAT, I supplied my bank details to the Revenue Commissioners, for the purpose of VAT refunds. They got back to me saying that I had to have an Irish bank account. I asked them for proof - If my accountant is happy to do provide an audit with my main business account being in Prague, what is the problem? Why would I want to saddle my new company with a zombie bank?
Any thoughts on this would be gratefully received. Is the Revenue correct, or do they just want to make life easy for themselves? What is the law here?